Right now, the key for filers is to make sure their tax return tells a consistent story, he said. If that story changes — say, when a lawyer becomes an […]
Income Tax
Trending topics and news from the Income Tax category
Back to news homeProPublica Report Has Congress Rethinking How to Tax Superrich
WASHINGTON — A jaw-dropping report by ProPublica detailing how America’s richest men avoided paying taxes has intensified interest in Congress, even among some Republicans, in changing the tax code to […]
Rich Americans Like Bezos, Musk, Buffett Avoided Income Tax
Lawmakers like Senator Elizabeth Warren, Democrat of Massachusetts, have championed the idea of placing a 2 percent tax on an individual’s net worth above $50 million — including the value […]
Republicans Push Biden to Divert Federal Aid for Infrastructure
WASHINGTON — From California to Virginia, many states that faced devastating shortfalls in the depths of the pandemic recession now find themselves flush with tax revenues because of a rebounding […]
Biden Defends Plans to Tax the Rich
“Ultimately, his political standing is judged by the health and well-being of the economy,” said Josh Holmes, a political adviser to Senator Mitch McConnell of Kentucky, the Republican leader. “What […]
Why a $10,000 Tax Deduction Could Hold Up Trillions in Stimulus Funds
“I think it’s a giveaway to the rich,” she told reporters last month. “So, I do not believe in holding the entire infrastructure package hostage for a full repeal and […]
Booming Stock Market Helps California Bounce Back from Pandemic
In the early days of the pandemic, no one would have looked to the stock market for salvation. From February to late March last year, the S&P 500 suffered one […]
Biden Seeks $80 Billion to Beef Up I.R.S. Audits of High-Earners
WASHINGTON — President Biden, in an effort to pay for his ambitious economic agenda, is expected to propose giving the Internal Revenue Service an extra $80 billion and more authority […]
Biden Will Seek Tax Increase on Rich to Fund Child Care and Education
WASHINGTON — President Biden will seek new taxes on the rich, including a near doubling of the capital gains tax for people earning more than $1 million a year, to […]
Big Companies Like FedEx and Nike Paid No Federal Taxes
Just as the Biden administration is pushing to raise taxes on corporations, a new study finds that at least 55 of America’s largest paid no taxes last year on billions […]