The fiscal milestone comes as Congress is facing a new spending fight with a government shutdown looming.
Category: Tax Credits, Deductions and Exemptions
-
I.R.S. Changes Audit Practice That Discriminated Against Black Taxpayers
The agency will overhaul how it scrutinizes returns that claim the earned-income tax credit, which is aimed at alleviating poverty.
-
I.R.S. Freezes Pandemic-Era Tax Credit Amid Fraud Fears
The tax agency is ramping up audits and criminal investigations into unscrupulous promoters of the Employee Retention Credit.
-
Biden’s Climate Law Is Reshaping Private Investment in the United States
Lucrative tax incentives have fueled a surge in solar panels but failed to boost wind power, data from a new project show.
-
Poverty Rate Soared in 2022 as Aid Ended and Prices Rose
The increase in poverty reversed two years of large declines. Median income, adjusted for inflation, fell 2.3 percent to $74,580.
-
New Corporate Minimum Tax Ushers In Confusion and a Lobbying Blitz
Large companies are bracing for the impact of a 15 percent tax that went into effect this year.
-
Wind Energy Giant Orsted Says Delays in U.S. May Cost $2 Billion
Supply chain problems and high interest rates are hurting U.S. projects, the Danish company said.
-
At 30%, Solar Panel Tax Credits Are at a High Point for Now
For about the next decade, homeowners can take advantage of the U.S. tax code to save on installation and reduce their electric bills.
-
Nonprofit Health System Says It Is Ending Policy That Denied Care to Indebted Patients
Allina Health, a large Midwestern system of hospitals and clinics, says it has decided to stop cutting off medical care to patients with unpaid medical bills of $4,500 or more.
-
Over 3,100 Charged With Pandemic Relief Fraud, Justice Department Says
The department outlined several cases, including one in which the defendants were accused of using fraudulently obtained funds to solicit a murder.
-
Schumer Wields Political Heft in Bid for New York Chips Funds
The Senate majority leader helped deliver billions of dollars in federal funding for semiconductors. Now he’s pushing for his state to reap benefits.
-
Tesla Sales Surge as Tax Credits Fuel Demand
Incentives and price cuts made Tesla electric cars cheaper than comparable gasoline models. But the company faces growing competition in China, a key market.