The legislation would have restored prized tax breaks for businesses and expanded the child tax credit. It had passed the House with broad bipartisan support.
Category: Income Tax
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No Taxes on Tips? A Trump Idea Gains Ground.
The sudden popularity of exempting tips from taxes is a reminder of the improvisational nature of economic policymaking under Donald Trump.
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No Taxes on Tips? A Trump Idea Gains Ground.
The sudden popularity of exempting tips from taxes is a reminder of the improvisational nature of economic policymaking under Donald Trump.
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One Obstacle for Trump’s Promises: This Isn’t the 2016 Economy
Donald J. Trump slapped tariffs on trading partners and cut taxes in his first term. But after inflation’s return, a repeat playbook would be riskier.
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Economists Worry About Fiscal Plans of Macron’s Rivals: What to Know
The far-right National Rally party and the left-wing New Popular Front are focusing on a cost-of-living crisis to woo voters, but their plans risk worsening France’s soaring deficit.
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Democrats’ Dream of a Wealth Tax Is Alive. For Now.
A narrow Supreme Court ruling left the door open for Congress to expand taxes on billionaires, but it’s not a guarantee.
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Supreme Court Upholds Trump-Era Tax Provision
The tax dispute, which was closely watched by experts, involved a one-time foreign income tax, but many saw it as a broader challenge to pre-emptively block Congress from passing a wealth tax.
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First a Victim of Tax Return Identity Theft, Then a 2-Year Wait for a Refund
The I.R.S.’s Taxpayer Advocate Service found that many of those affected were lower-income people who depended on refunds to cover living costs. The wait is “ridiculous,” the head of the service said.
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MicroStrategy and Its Founder to Pay $40 Million in Tax Fraud Lawsuit
Michael Saylor did not pay any income taxes to Washington despite living there from 2005 through 2020, the attorney general for the District of Columbia said.
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FSA vs. HSA: What to Know About the Accounts to Pay Medical Costs
Flexible spending accounts and health savings accounts both have tax benefits, but both may also have drawbacks, two reports found.
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Thousands Are Eligible for Tax Refunds From 2020
The I.R.S. estimates that 940,000 people who didn’t file their returns for that year are due back money. The deadline for filing to get it is May 17.