Closing asset loophole can raise $100 billion in taxes, Treasury now says
The new estimate doubles what the agency previously said it could recover by preventing certain large businesses from ...
6 Smart Year-End Tax Moves
Use this trick for figuring out what a year-end charitable contribution or retirement play will do to your 2024 taxes.
Kiplinger18h
Earned Income Tax Credit (EITC) 2024: How Much Will You Get?
What is the Earned Income Tax Credit? The earned income tax credit (EITC) is a federal tax break for low- and moderate-income workers with or without children. Also known as the earned income ...
CounterPunch20h
Oops! A Rich-People-Friendly Think Tank Confirms Our Richest Pay Under One Percent of Their Wealth Annually in Tax
The Washington, D.C.-based Tax Foundation has long functioned as an apologist for America’s deepest pockets. Analysts at the ...
Chattanooga Times Free Press21hOpinion
Opinion: Tennessee’s regressive taxation ensures the poor subsidize the wealthy
When pitching the Volunteer State to prospective employees, many Tennessee companies cite one thing, above all, to lure top ...
Arkansas Times1d
Corporate income tax cuts keep pinching state finances, monthly revenue report shows
The more state government funds itself off of sales taxes — rather than income taxes — the more regressive it becomes.
2025 Tax Reform: Will the SALT Deduction Cap Be Repealed?
However, some Republicans representing those states have become vocal about the need to raise or eliminate the cap. The ...
Telegram1d
Cautious yet optimistic: Economic forecasters share predictions for Massachusetts economy
Economic forecasters were cautious yet optimistic in their predictions for the Mass. economy in the coming year as lawmakers ...
Cary man sentenced in $1+ million tax evasion scheme used to fuel ‘high-end’ lifestyle, DOJ says
He used his untaxed gains to fund his personal lifestyle, which included buying high-end vehicles and a $1 million home, DOJ ...
New IRS funding boosted tax enforcement and improved taxpayer services during the Biden administration
This boost in tax revenue occurred because of the Inflation Reduction Act, which President Joe Biden signed into law in 2022.
Trump’s ultra-wealthy picks face a huge tax hit to join his Cabinet—but can avoid it thanks to this little known provision
Among the wealthy executives in position to take advantage of the provision, known as a certificate of divestiture, are: ...
Expatriation: New Forms, More Government Scrutiny, Bigger Stakes
Revised State Dept. and IRS forms indicate increased government scrutiny for expatriation. The tax noose is tightening for ...