For donors, wartime Ukraine aid creates blurry ethical line
His San Francisco-based organization, which delivered some $59 million in aid to Ukraine since Russia invaded a year ago, decided ultimately not to support volunteer fighters. “You can’t support war fighting, can’t support killing people, even if it’s killing the bad guys," he said. “While I’m sure some of them are carefully lawyered, there’s enormous pressure to provide this support,” he said of nonprofits. Though it has delivered more than a thousand drones, her organization ruled out fundraising for military equipment because it did not fit into the organization’s charitable mission, Chomiak said. ___Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc.wftv.com
IRS nominee Werfel faces questioning on "thankless' job
He drew praise for being willing to leave a private consulting job to take on the top job at the troubled agency. Sen. Mark Warner, D-Va., called the job “one of the more thankless tasks” in Washington. Werfel, who led Boston Consulting Group’s global public sector practice, would replace Charles Rettig, whose five-year term ended in November. Werfel said he would “absolutely” report to the Senate Finance committee within 60 days of his confirmation on the matter. “The bottom line is what will build trust with the taxpayers,” Werfel said.wftv.com
IRS nominee faces herculean challenge of modernizing agency
WASHINGTON — (AP) — Even in the best of times, the IRS is the agency Americans love to hate. And he was temporarily put in charge of the IRS in 2013 to clean up a controversy involving allegations that the agency improperly targeted certain groups applying for tax-exempt status. Dan Tangherlini, a former senior official at the Treasury Department and now podcast co-host, says Werfel's experience with past IRS controversies will be an asset as the agency faces continual threats. If confirmed, Werfel will manage the $80 billion infusion of funds to the IRS approved in the Democrats’ flagship climate and healthcare law. Republicans have suggested without evidence that the agency would use the new money to hire an army of tax agents with weapons.wftv.com
Sharp increase in U.S. teen girls considering suicide, new CDC report says
READ: Asteroid explodes over English ChannelThe new data raises serious questions about what’s being done to address mental health in America, specifically for teenage girls. Lawmakers continue to point to resources as being the major barrier to helping address mental health in the United States. “To reach every student, we need all hands on deck, and that means more mental health professionals,” Democrat from Pennsylvania Sen. Bob Casey said. “Three years of COVID have just had their toll upon the mental health of adolescents and college students,” Louisiana Republican Sen. Bill Cassidy added. It found more than half had recently experienced poor mental health and more than one in five had attempted suicide in the past year.wftv.com
These weren’t $100K jobs before the pandemic, but they are now
ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal. Industrial psychologists, information security analysts and biochemists weren’t six-figure jobs nationally before the pandemic. Those gains came as salaries soared since the economic recovery ramped up after the initial shockwaves of the pandemic, with a tight labor market and elevated turnover rates fueling significant raises and bonuses throughout much of 2021 and 2022. Click here to read the full story on the Orlando Business Journal’s website. VIDEO: Space Florida working to bring more aerospace jobs to the state Florida is expected to see more than 80 rocket launches before the end of the year.wftv.com
What to know about this $170M project set to break ground near Disney World
ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal. A developer is preparing to break ground on a $170 million, mixed-use project with a variety of vacation home offerings and a commercial component in Osceola County’s Four Corners area near Disney. Why this matters: Large mixed-use projects such as Visions Orlando can have a catalytic effect on their surrounding areas, attracting further development and investment, especially given its proximity to Orlando’s tourist corridor. Meanwhile, the four-phase project will offer opportunities for contractors, workers and suppliers during its construction. Click here to read the full story on the Orlando Business Journal’s website.wftv.com
IRS won't tax most relief payments made by states last year
The IRS announced Friday that most relief checks issued by states last year aren’t subject to federal taxes, providing 11th hour guidance as tax returns start to pour in. A week after telling payment recipients to delay filing returns, the IRS said it won’t challenge the taxability of payments related to general welfare and disaster, meaning taxpayers who received those checks won’t have to pay federal taxes on those payments. All told, the IRS said special payments were made by 21 states in 2022. “The IRS appreciates the patience of taxpayers, tax professionals, software companies and state tax administrators as the IRS and Treasury worked to resolve this unique and complex situation,” the IRS said Friday evening in a statement. That also applies to supplementary energy relief payments in Alaska that were in addition to the annual Permanent Fund Dividend, the IRS said.wftv.com
EXPLAINER: What's the debate over releasing Trump's taxes?
Now that the Democratic-controlled House Ways and Means Committee has voted to release former President Donald Trump’s tax returns, there's the potential of additional revelations in the coming days related to the finances of the longtime businessman.
Feds launch website for claiming part 2 of child tax credit
The White House and Treasury Department launched a revamped Child Tax Credit website meant to help people who were eligible for the expanded tax credit under last year’s pandemic relief bill claim the second half of the payment they were due.
Leak of billionaires' tax data draws GOP outcry over privacy
Republicans in Congress are alarmed by the leak of confidential IRS data to ProPublica that has enabled the investigative news organization to reveal that famous billionaires including Warren Buffett, Bill Gates and Mark Zuckerberg paid little in U.S. income tax at times.