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A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs (which may be financial or regarding health and welfare), business, or some other legal matter.
The 2017 Tax Cuts and Jobs Act limits the deduction for state and local taxes, including property, income and sales taxes, to $10,000 per year. If you need to deduct more than $10,000 on your tax ...
This trend led to the introduction of alternatives to the property tax (such as income and sales taxes) at the state level. [16] Property taxes remained a major source of government revenue below the state level. Hard times during the Great Depression led to high delinquency rates and reduced property tax revenues. [68]
School and other authorities are often separately governed, and impose separate taxes. Property tax is generally imposed only on realty, though some jurisdictions tax some forms of business property. Property tax rules and rates vary widely with annual median rates ranging from 0.2% to 1.9% of a property's value depending on the state. [9]
The decision in Springer went further in declaring that all income taxes were indirect taxes—or more specifically, "within the category of an excise or duty." [ 42 ] However, in 1895 income taxes derived from property such as interest, dividends, and rent (imposed under an 1894 Act) were treated as direct taxes by the Supreme Court in Pollock v.
There have also been attempts since then to introduce land value tax legislation, such as the Federal Property Tax Act of 1798, [15] and HR 6026, a bill introduced to the United States House of Representatives on February 20, 1935 by Theodore L. Moritz of Pennsylvania. HR 6026 would have imposed a national 1% tax on the value of land in excess ...