Seeing their own financial benefits, too, Washington and California are among the states creating programs to help older residents.
Category: Taxation
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Oregon Town’s Marijuana Boom Yields Envy in Idaho
Tax revenue has surged since cannabis stores opened in Ontario, Ore., fueling a push in neighboring Idaho to legalize sales and get in on the action.
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When Will the U.S. Run Out of Cash? The Answer Is Complicated.
The federal government is essentially living paycheck to paycheck, making the X-date hard to pin down.
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I.R.S. Acknowledges Black Americans Face More Audit Scrutiny
The commissioner, Daniel Werfel, said the agency was working to correct unfairness in the enforcement of the tax code.
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The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners
In an era of surging home and stock values, U.S. family wealth has soared. The trillions of dollars going to heirs will largely reinforce inequality.
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I.R.S. Unveils $80 Billion Plan to Overhaul Tax Collection
The 10-year strategy document outlines a focus on taxpayer services and enforcement efforts on the rich.
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Biden’s $6.8 Trillion Budget Proposes New Social Programs and Higher Taxes
The New York Times – Business:The president proposed trillions of dollars in new spending that has no chance of passing a Republican House, even as he sought to reduce deficits by raising taxes on business and the rich
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IRS Decision Not to Tax Certain Payments Carries Fiscal Cost
The New York Times – Business:The Biden administration has opted not to tax state payments to residents, a decision that could add to the nation’s fiscal woes.
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Berkshire Hathaway Reports Major Investment Losses in 2022
The New York Times – Business:After a $22.8 billion loss, Warren Buffett called the figure “100 percent misleading” and urged shareholders to focus on his empire’s overall health.
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Biden’s I.R.S. Nominee Will Be Grilled About $80 Billion Overhaul
The New York Times – Business:Daniel Werfel is expected to defend the administration’s plan to modernize the agency at his confirmation hearing on Wednesday.
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I.R.S. Decides Most Special State Payments Are Not Taxable
The New York Times – Business:The agency offered the guidance that it had asked millions of taxpayers in 21 states to wait for before filing their returns.