Category: Taxation

As Tax Season Starts, a Beleaguered I.R.S. Looks to Bolster Customer Service

The New York Times – Business:
The Biden administration is focusing on making the agency more responsive amid concerns that a funding increase will result in more audits.
How the U.S. Government Amassed $31 Trillion in Debt

The New York Times – Business:
Two decades of tax cuts, recession responses and bipartisan spending fueled more borrowing — contributing $25 trillion to the total and setting the stage for another federal showdown.
Speaker Drama Raises New Fears on Debt Limit

The New York Times – Business:
An emboldened conservative flank and concessions made to win votes could lead to a protracted standoff on critical fiscal issues, risking economic pain.
Trump’s Tax Audit Shows Depths of IRS Funding Woes

The New York Times – Business:
The agency lacks the resources to go after rich taxpayers. For years, a single revenue agent was responsible for the audits of Donald J. Trump.
State Tax Cut Policies Prop Up Income, Fanning Inflation Worries

The New York Times – Business:
Efforts around the country to ease the pain of rising prices have given consumers more money to spend, which could paradoxically further drive up prices.
Edward C. Prescott, 81, Dies; Won Nobel for Studying Business Cycles

The New York Times – Business:
He was among the leading thinkers to explain the economic shocks of the 1970s, and his work was critical to the supply-side economics of the ’80s.
Will Taxing the Windfall Profits of Oil Giants Fix Countries’ Economies?

The New York Times – Business:
Britain is raising a tax on gas and oil producers, and adding a levy on companies that supply electricity — a similar approach to that of other governments chasing revenue.
I.R.S. Gets Interim Leader at Pivotal Moment for Tax Collector

The New York Times – Business:
The White House has yet to nominate a full-time commissioner as the agency embarks on an $80 billion overhaul.
IRS Releases Inflation-Adjusted Tax Rates for 2023

The New York Times – Business:
Filers whose salaries have not kept pace with inflation could see savings on their federal income tax bills.
U.K. Markets Slump Despite Kwasi Kwarteng’s Ouster

The New York Times – Business:
Kwasi Kwarteng, the chancellor of the Exchequer, was fired on Friday by Prime Minister Liz Truss in a bid to end weeks of market turmoil.