Changes in the tax law will have different effects on people who take the standard deduction versus high earners who itemize.
Category: Taxation
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States Are Raking In Billions From Slot Machines on Your Phone
Online casinos have proved to be a much stronger source of tax revenue than sports betting apps. They may be coming to a state near you.
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For ‘No Tax on Tips,’ the I.R.S. Gets Intimate
The Trump administration wants to exclude earnings from “pornographic activity” from a new tax break for tips. Will the I.R.S. know it when it sees it?
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U.K. Budget Plan Calms Markets and Labour Faithful. Will It Appeal to Voters?
The plan presented by the chancellor of the Exchequer, Rachel Reeves, called for spending increases and higher taxes on the wealthy and the middle class.
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A Major Moment for the British Economy: What to Watch in the U.K. Budget
Rachel Reeves, the top economic official in an increasingly unpopular government, will appear in Parliament to present tax and spending plans.
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Britain’s Most Unpopular Chancellor in Decades Faces Another Big Test
Rachel Reeves, who has had a bruising tenure as the country’s top economic official, is set to announce tax and spending measures that risk stoking more discontent.
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Judge Places Hold on IRS Data Sharing With ICE
A judge halted a federal deportation effort Friday, writing that the tax agency had illegally disseminated the data of some migrants.
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Is Your College Football Team Short of Cash? Sports Betting Can Help.
Louisiana lawmakers tried a novel strategy for raising revenue, a model that proponents say might work more broadly.
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The I.R.S. Tried to Stop This Tax Dodge. Scott Bessent Used It Anyway.
Like many on Wall Street, Treasury Secretary Scott Bessent used a limited partnership to avoid Medicare taxes. Unlike the others, he’s now overseeing the I.R.S.
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How the Trump Administration Is Giving Even More Tax Breaks to the Wealthy
The Treasury Department and Internal Revenue Service are issuing rules that provide hundreds of billions of dollars in tax relief to big companies and the ultrarich.