Labs, athletic fields and a planetarium: IPS school waits on voters for funding
Indianapolis Public Schools’ proposed tax increase would pay for building improvements at 23 schools as the district rolls out its Rebuilding Stronger reorganization.
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State revenue beats projections again
The Indiana State Budget Agency better-than-expected collections from sales tax, individual income tax, corporate tax, and interest revenues were the primary drivers of March’s performance.
$410M ballot request for IPS buildings creates list of questions
The referendum for capital expenses is part of the district’s Rebuilding Stronger reorganization. Here’s what you need to know.
Hogsett, Shackleford divided on possible tax increase in Democratic town hall
At Tuesday evening’s Democratic mayoral candidate town hall, State Rep. Robin Shackleford indicated she might consider raising taxes to fix roads in Indianapolis, while incumbent Joe Hogsett remained adamant that he would not raise taxes.
IPS to implement overhaul without new taxes for operating costs—for now
The overhaul approved in November reconfigures grades, closes six schools and expands specialized academic programs in an effort that officials say will create more great schools and prioritize equity.
Biden calls for trillions in tax hikes, new domestic spending
The president’s budget calls for more than $2 trillion on dozens of new domestic policy initiatives, paid for by more than $4.5 trillion in new revenue, primarily through hefty tax hikes on high earners and large corporations.
Biden proposes new taxes on rich to help fund Medicare
The proposed hike would likely increase tax revenues by more than $117 billion over 10 years, according to estimates by the Tax Policy Center.
IRS braces for the unthinkable: A normal tax season
After its controversial funding boost, the agency is answering 90 percent of its phone calls, has squashed its backlog of overdue returns, introduced new online taxpayer tools to keep pace with private software companies and processed 99.7 percent of returns filed this tax season, according to agency reports.
Warren Township district seeks tax hike to cover initiatives once COVID aid expires
The Warren Township district is asking voters for an $88 million property tax increase over eight years, in part to maintain the support it received from the Elementary and Secondary School Emergency Relief funding that the state says must be spent by the end of 2024.
Bills on underused school buildings, cursive writing advance
Meanwhile, Hoosiers have their first new law for the year—and it’s a retroactive business tax deduction in time for tax season.
SALT deduction bill heading to Indiana governor’s desk
Senate Bill 2 is expected to provide a state and local tax, or SALT, deduction for what are known as pass-through entities, which are businesses that are not subject to corporate income tax.
IRS nominee: No audit boost for households under $400,000
President Joe Biden nominated Werfel to steer the Internal Revenue Service as it receives a massive funding boost—nearly $80 billion over the next 10 years through the Inflation Reduction Act, which Congress passed in August.
IPS delays vote on $400M operating referendum amid criticism from charters, biz group
The proposed operating referendum would provide $50 million annually over an eight-year period to expand student programs and increase teacher pay through the program.
Indy Chamber comes down against IPS tax increase as proposed
The business advocacy group questioned how the effort would improve academic performance and why students in the district’s Innovation charter schools wouldn’t receive an equal portion of the funding.
Indiana tax cap proposal would help homeowners but hurt schools, local government
A new study projects homeowners’ bills payable this year could increase as much as 15%. That’s more than double what previous reports estimated for the upcoming bills.
Throwing stars, EMS services, food and beverage tax bills moving through Indiana legislature
Dozens of bills are already advancing through committees and legislative chambers halfway through the third week of Indiana’s 2023 session.
Proposal could ax business personal property tax for thousands
The bill would raise the exemption that determines which companies must pay the tax. It would exempt companies that own machinery, equipment and other tangible goods that cost them, in total, less than $250,000. The current threshold is $80,000.
IRS announces Jan. 23 start date for tax-filing season
The news comes after the National Taxpayer Advocate reported Wednesday that the IRS watchdog is seeing “a light at the end of the tunnel” of the IRS’ customer service struggles.
Indianapolis dermatologist pleads guilty to understating taxes
Dr. A. David Gerstein, a dermatologist with practice on North Meridian Street, filed a plea agreement Dec. 28 in U.S. District Court in Indianapolis.
Indiana governor proposes 6% boost for schools next year
Gov. Eric Holcomb’s plan would give K-12 schools their largest funding increase in more than a decade even amid worries about an expected slowdown in the growth of state tax collections.