A new report documents systemic discrimination in how the I.R.S. selects taxpayers to be audited, with implications for a debate on the agency’s funding.
Category: Tax Credits, Deductions and Exemptions
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Black Americans Are Much More Likely to Face Tax Audits, Study Finds
The New York Times – Business: -
Ford Follows Tesla in Cutting Electric Vehicle Prices
The New York Times – Business:The automaker reduced the price of the Mustang Mach-E by up to $5,900 after Tesla slashed prices of its cars by as much as 20 percent.
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Climate Change May Bring New Era of Trade Wars, as E.U. and U.S. Spar
The New York Times – Business:Countries are pursuing new solutions to try to mitigate climate change. More trade fights are likely to come hand in hand.
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At Davos, European Distress Over a ‘Made in America’ Law
The New York Times – Business:The U.S. Inflation Reduction Act stirred talk of a trade war, but also proposals for a similar E.U. initiative to stimulate green investment.
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Savings Accounts for Disabled People Are Opened to More of Them
The New York Times – Business:Only those who became disabled by age 26 have been eligible for ABLE accounts. But Congress raised the age to 46, so more military veterans and others can qualify as of 2026.
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Your Tax Refunds May Be Smaller This Year
The New York Times – Business:Credits that were expanded as part of pandemic relief have expired, as has the deduction for donations for people who don’t itemize.
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Korean Solar Company Plans to Build $2.5 Billion Plant in Georgia
The New York Times – Business:Hanwha Qcells expects to make solar panels and their components in the United States to take advantage of President Biden’s climate policies.
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For Freelancers, New Federal Help in Saving for Retirement
The New York Times – Business:The Secure 2.0 Act provides for direct government contributions to retirement accounts for low- and moderate-income workers, though that won’t start until 2027.
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U.S. Pours Money Into Chips, but Even Soaring Spending Has Limits
The New York Times – Business:Amid a tech cold war with China, U.S. companies have pledged nearly $200 billion for chip manufacturing projects since early 2020. But the investments are not a silver bullet.
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U.S. Pours Money Into Chips, but Even Soaring Spending Has Limits
The New York Times – Business:Amid a tech cold war with China, U.S. companies have pledged nearly $200 billion for chip manufacturing projects since early 2020. But the investments are not a silver bullet.
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Trump Tax Returns Undermine His Image as a Successful Entrepreneur
The New York Times – Business:The release of former President Donald J. Trump’s private tax documents by the House Ways and Means Committee shows heavy losses from his own ventures as he continued to cash in on inherited assets.
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Which Electric Vehicles Qualify for Federal Tax Credits?
The New York Times – Business:Here is a partial list of electric and plug-in hybrid vehicles that will qualify for federal tax credits in 2023.