President Trump’s tariffs are scrambling the Republican plan for the economy, long centered on tax cuts and growth.
Category: Income Tax
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Tax Tips for Those Who Haven’t Filed Their 2024 Returns
Despite the turmoil at the I.R.S., tax returns are still due on April 15. And, yes, there are still options for lowering last year’s taxable income.
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How the Tax Bill Could Impact Your Wallet
Brackets may change. The standard deduction could fall. And President Trump will probably not remove taxes on Social Security income.
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Scammers Stole Their Retirement Savings. Then the Tax Bill Arrived.
The victims pulled money out of their retirement accounts. The withdrawals had inflated their taxable income, even though the funds quickly disappeared.
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When It Comes to Tariffs, Trump Can’t Have It All
The president has promised big results, from raising revenue to reviving domestic manufacturing. But many of his goals undermine one another.
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GOP Gambles on Budget Plan That Helps the Rich and Cuts Aid to the Poor
The House Republican budget plan would pair tax cuts that primarily benefit the rich with cuts to programs that help the poor.
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Did You Sell Concert Tickets or Clothes? You May Owe Taxes
If you received more than $5,000 for online sales of “goods or services” in 2024, you might get a Form 1099-K. Don’t ignore it, an expert says.
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IRS Free Tax Filing System Will Include 13 More States
The Direct File system will be open to millions of taxpayers in 25 states, up from 12 last year. But it’s unclear what will happen to the program next year.
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How the Debt Could Hamstring Trump’s Agenda
Republicans are hunting for ways to pay for President Trump’s expensive plans while avoiding a freakout on Wall Street.
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Trump Pitches External Revenue Service to Collect Tariffs: What to Know
President Trump wants an External Revenue Service to collect tariffs on imports. But one trade expert said the move may be “more branding than substance.”
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What Did Trump’s Tax Cuts Do?
Economic upheaval caused by the pandemic has clouded analysts’ ability to understand the effects of the 2017 tax law. Republicans call it a huge success and want to extend it anyway.