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.
Category: Taxation
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Courting C.E.O.s, Trump Says He Intends to Cut Corporate Taxes Again
Donald Trump cut the business tax rate to 21 percent from 35 percent in 2017. Speaking privately to business leaders, he said if he retook power, he wanted to make it 20 percent.
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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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Biden Tax Increases Won’t Hit Middle Class, Yellen Says
Republicans pressed the Treasury secretary on the fate of the Trump tax cuts that will expire in 2025.
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U.S. Debt Races Toward Record This Decade, C.B.O. Warns
Recently passed spending limits have slightly improved the nation’s fiscal outlook.
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Biden’s Budget Underscores Divide With Republicans and Trump
The president’s $7.3 trillion budget proposal for the next fiscal year includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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Here’s the latest on the president’s priorities.
The president’s $7.3 trillion budget proposal for the next fiscal year includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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Biden Budget Will Underscore Divide With Republicans and Trump
The president’s fiscal 2025 budget proposal includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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I.R.S. to Crack Down on Corporate Jet Users Who Abuse Tax Code
The tax collection agency’s scrutiny will involve new data analytics tools to find private jet owners who claim millions of dollars in deductions on planes being used for personal travel.
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I.R.S. Commissioner Warns Budget Cuts Would Add to Deficit
Daniel Werfel, the Internal Revenue Service commissioner, pushed back against claims from Republicans that he had not been following the law.
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I.R.S. Commissioner Aims to Show Progress Amid Threats of Budget Cuts
Daniel Werfel will try to persuade skeptical Republicans on Thursday that funding the tax agency is a good investment.
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Yellen Hits Trump Over Handling Of Economy
The Treasury Secretary acknowledged that consumer prices, which have weighed on economic sentiment, continue to be too high.