Category: Income Tax

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.
The Wealth Tax Plan That’s Roiling New York and French Politics

Endorsed by Zohran Mamdani and criticized by business leaders, the idea involves hitting millionaires with a stiff levy.
New York Needs More Millionaires, Fiscal Watchdog Says

A report by the nonpartisan Citizens Budget Commission comes at a time when income inequality and affordability have been the most prominent themes in the race for New York City mayor.
Elon Musk’s SpaceX Most Likely Doesn’t Pay Taxes

Elon Musk’s rocket company relies on federal contracts, but years of losses have most likely let it avoid paying federal income taxes, according to internal company documents.
Trump’s Tariffs Are Making Money. That May Make Them Hard to Quit.

The tariffs are a substantial new source of revenue for the federal government. The budget may start to depend on it.