Category: Income Tax

Tariff Whiplash Clouds Outlook for Federal Budget

The New York Times – Business:
The tariffs thrown out by the Supreme Court had become an important revenue source. President Trump said he could replace that money with other levies.
Doing Your Taxes? We Want to Hear From You.

The New York Times – Business:
The New York Times is looking to speak to Americans about how the most recent tax cuts are affecting their pocketbooks.
Federal Debt to Hit Record Levels, Budget Office Warns

The New York Times – Business:
President Trump has reshaped the country’s economic policies, but the outlook for the budget remains dire.
Your Tax Refund Could Be Taken if You’ve Defaulted on Student Loans: What to Know

Millions of people are at risk of the government’s seizing their refunds to pay what is owed on student loans.
Push to Audit Private Equity and Venture Capital Falters Under Trump

Specialists have left the I.R.S. and audits have been abandoned since the president returned to office.
A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

It’s uncertain whether the proposal will reach the statewide ballot in November, but some billionaires like Peter Thiel and Larry Page may be unwilling to take the risk.
A Major Moment for the British Economy: What to Watch in the U.K. Budget

Rachel Reeves, the top economic official in an increasingly unpopular government, will appear in Parliament to present tax and spending plans.
Britain’s Most Unpopular Chancellor in Decades Faces Another Big Test

Rachel Reeves, who has had a bruising tenure as the country’s top economic official, is set to announce tax and spending measures that risk stoking more discontent.
How the Trump Administration Is Giving Even More Tax Breaks to the Wealthy

The Treasury Department and Internal Revenue Service are issuing rules that provide hundreds of billions of dollars in tax relief to big companies and the ultrarich.
I.R.S. Suspends Free Online Offering to File Taxes Directly

The new program, Direct File, helped low- and moderate-income taxpayers file their returns more easily, and had been expanding.
How Universal Child Care Could Change the Economy

Zohran Mamdani, the Democratic nominee for New York City mayor, has proposed no-cost, universal child care, helping to reignite a national conversation.
‘Tax the Rich,’ French Protesters Cry, as the Wealthy Push Back on Paying More

With a budget crisis looming, a proposal for a tax on ultrahigh-wealth individuals has grass-roots support, but it adds conflict to an already fragmented political landscape.