Close to 60% of all American taxpayers, about 100 million households, don’t pay one dime in federal income taxes. If a household makes $75,000 or less annually, it will most likely pay zero income tax. […]
RALEIGH — North Carolina government tax collections will smash the projections used to help fashion the first year of the current two-year state budget, officials announced Monday as lawmakers return next week to begin figuring […]
WASHINGTON, D.C. — The Supreme Court on Monday rejected a challenge from New York, New Jersey, Connecticut and Maryland to the 2017 tax law that capped federal tax deductions for state and local taxes. The […]
Taxes are complex, and for small-business owners, freelancers and people with side gigs, they’re even more complex — especially now, as filers reckon with the tax effects of small-business relief programs and rule changes. But […]
Tesla founder Elon Musk is scheduled to pay $11 billion in California state and federal taxes by April 15. That figure, $11 billion, would almost be equal to tax collections from all sources in South […]
Professionals have a major piece of advice for those who traded cryptocurrency for the first time last year: Take your tax prep seriously. The IRS has been zooming in on cryptocurrency reporting with increasing interest […]
WASHINGTON, D.C. — This year’s tax filing season will begin on Jan. 24, 17 days earlier than last year, the Internal Revenue Service announced Monday. The IRS is warning that a resurgence of COVID-19 infections […]
Some people would have you believe cutting taxes reduces government revenue. However, as evidenced by the Tax Cuts and Jobs Act of 2017, individual and corporate tax rates were reduced, but federal revenues increased from […]
This week, Democrats settled on an area of apparent commonality: the desire to eat the rich. According to Treasury Secretary Janet Yellen, “Senator Wyden and the Senate Finance Committee … would impose a tax on […]
Back in early 2016, when Larry Kudlow and I suggested that then-presidential candidate Donald Trump propose a 20% business tax rate for U.S. companies (down from the highest in the world rate of 35%), he […]
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