Sinema Agrees to Climate and Tax Deal, Clearing the Way for Votes

The Arizona Democrat had been her party’s last remaining holdout on the package, now slated to move forward on Saturday and pass the Senate within days.

#corporate-taxes, #democratic-party, #federal-taxes-us, #income-tax, #inflation-reduction-act-of-2022, #law-and-legislation, #schumer-charles-e, #senate, #sinema-kyrsten, #united-states-politics-and-government

How Joe Manchin Left a Global Tax Deal in Limbo

Treasury Secretary Janet L. Yellen’s signature achievement is in jeopardy if the United States cannot ratify the tax agreement that she brokered.

#corporate-taxes, #corporations, #european-union, #federal-budget-us, #federal-taxes-us, #manchin-joe-iii, #politics-and-government, #tax-shelters, #treasury-department, #united-states-economy, #united-states-international-relations, #united-states-politics-and-government, #yellen-janet-l

Manchin Pulls Plug on Climate and Tax Talks, Shrinking Domestic Plan

The West Virginia Democrat’s decision dealt a crushing blow to President Biden’s domestic agenda, effectively ruling out action on anything beyond prescription drug pricing and health care subsidies.

#biden-joseph-r-jr, #democratic-party, #drugs-pharmaceuticals, #federal-taxes-us, #global-warming, #health-insurance-and-managed-care, #inflation-economics, #law-and-legislation, #manchin-joe-iii, #national-debt-us, #patient-protection-and-affordable-care-act-2010, #schumer-charles-e, #senate, #taxation, #united-states-politics-and-government

Here’s How Democrats’ Big Domestic Agenda Bill Has Shrunk

Proposed as a transformative, multitrillion-dollar plan with cradle-to-grave programs, Democrats’ domestic policy bill has been whittled down to a shadow of its former self.

#democratic-party, #federal-taxes-us, #house-of-representatives, #law-and-legislation, #senate, #united-states-politics-and-government

Democrats Propose Raising Taxes on Some High Earners to Bolster Medicare

The draft plan, which is expected to be unveiled in the coming days, is part of talks over how to salvage pieces of President Biden’s domestic agenda.

#democratic-party, #federal-budget-us, #federal-taxes-us, #income-tax, #manchin-joe-iii, #medicare, #payroll-tax, #schumer-charles-e, #senate

I.R.S. Asks Inspector General to Review Audits of Comey and McCabe

The tax agency said its commissioner asked the Treasury Department’s inspector general for tax administration to look into the audits after The Times raised questions about them.

#comey-james-b, #federal-bureau-of-investigation, #federal-taxes-us, #inspectors-general, #internal-revenue-service, #mccabe-andrew-g, #rettig-charles-p, #trump-donald-j, #united-states-politics-and-government

Officials Balked at a Drug Company’s Tax Shelter. Auditors Approved It Anyway.

Court documents show the potential conflicts of interest when accounting firms simultaneously help clients avoid taxes and audit their finances.

#accounting-and-accountants, #bdo-international, #conflicts-of-interest, #corporate-taxes, #ernstyoung, #federal-taxes-us, #internal-revenue-service, #perrigo-company, #securities-and-commodities-violations, #suits-and-litigation-civil, #tax-evasion, #tax-shelters, #taxation

Comey and McCabe, Two Trump Foes, Both Faced Intensive I.R.S. Audits

The former F.B.I. director and his deputy, both of whom former President Donald J. Trump wanted prosecuted, were selected for a rare audit program that the tax agency says is random.

#comey-james-b, #federal-bureau-of-investigation, #federal-taxes-us, #internal-revenue-service, #mccabe-andrew-g, #rettig-charles-p, #trump-donald-j, #united-states-politics-and-government

76 Fake Charities Shared a Mailbox. The I.R.S. Kept Approving More.

The tax agency is the gatekeeper for America’s charity system, but reduced vetting has opened the door to scams.

#american-cancer-society, #federal-taxes-us, #frauds-and-swindling, #ian-hosang, #internal-revenue-service, #nonprofit-organizations

The Federal Government Subsidizes Abortions. Will That Last?

Individuals can often use health insurance or flexible spending accounts to pay for abortions or deduct the cost on tax returns. Congress might weigh in.

#abortion, #content-type-service, #corporate-taxes, #dobbs-v-jackson-womens-health-organization-supreme-court-decision, #federal-taxes-us, #health-insurance-and-managed-care, #internal-revenue-service, #tax-credits-deductions-and-exemptions

Biden Just Proposed a Gas Tax Holiday. Will It Work?

The president’s idea isn’t a new one. Republicans like Glenn Youngkin and Ron DeSantis got there first.

#biden-joseph-r-jr, #desantis-ron, #federal-taxes-us, #gasoline-tax-us, #internal-sub-only-nl, #united-states-politics-and-government, #virginia, #youngkin-glenn-a

Will Biden’s Gas Tax Holiday Make a Difference?

Many economists say suspending federal taxes on gas will not significantly cut prices for consumers.

#amazon-com-inc, #american-action-forum, #arm-holdings-plc, #bankman-fried-sam, #beijing-bytedance-technology-co-ltd, #bersin-alan-d, #biden-joseph-r-jr, #birol-fatih, #buffett-susan-thompson-foundation, #buffett-warren-e, #capital-gains-tax, #china, #corporate-taxes, #europe, #federal-taxes-us, #great-britain, #gun-control, #holtz-eakin-douglas, #income-tax, #philanthropy, #politics-and-government, #russia, #ukraine, #united-states, #united-states-economy

A Tax Deal, in Trouble

A global agreement to increase taxes on corporations is in jeopardy.

#corporate-taxes, #federal-taxes-us, #internal-storyline-no, #law-and-legislation, #politics-and-government, #united-states-economy

Puerto Ricans Deserve Better Than Separate and Unequal

Puerto Ricans are still not able to access the same social safety net as other U.S. citizens.

#colonization, #disability-insurance, #discrimination, #federal-taxes-us, #politics-and-government, #puerto-rico, #supreme-court-us, #united-states-politics-and-government

The Buffalo Massacre: A Deadly Mix of Racism and Guns

After another massacre, readers urge not only gun control but also addressing domestic terrorism. Also: A Covid death; lawmakers need to govern; Republican contortions.

#black-people, #buffalo-ny-shooting-may-14-2022, #coronavirus-2019-ncov, #deaths-fatalities, #federal-taxes-us, #gun-control, #jews-and-judaism, #mass-shootings, #muslim-americans, #republican-party, #united-states-politics-and-government

Bernanke’s Economic Warning

The former Federal Reserve chair warns that the U.S. could be headed for a period of “stagflation.”

#bernanke-ben-s, #bezos-jeffrey-p, #corporate-taxes, #federal-reserve-system, #federal-taxes-us, #interest-rates, #politics-and-government, #russian-invasion-of-ukraine-2022, #subprime-mortgage-crisis, #supply-chain, #united-states, #united-states-economy

Remember When Kevin McCarthy Had ‘Had It’ With Trump?

And does mean that Ron DeSantis won’t be taking his kids to Disney world anymore?

#biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #desantis-ron, #disney-walt-world-lake-buena-vista-fla, #federal-taxes-us, #immigration-and-emigration, #income-tax, #masks, #politics-and-government, #republican-party, #united-states-politics-and-government

On Tax Day, Treasury Makes a Plea For More IRS Funding

The Biden administration continues to push for $80 billion in new funding for the tax collection agency.

#biden-joseph-r-jr, #federal-taxes-us, #internal-revenue-service, #rebates-and-refunds, #sarin-natasha, #united-states-economy, #united-states-politics-and-government

To Help Children, Democrats are Going to Have to Reach Across the Aisle

A bipartisan Child Tax Credit expansion may actually be within reach.

#biden-joseph-r-jr, #child-tax-credits-and-stipends, #children-and-childhood, #clinton-hillary-rodham, #collins-susan-m, #democratic-party, #federal-taxes-us, #manchin-joe-iii, #poverty, #republican-party, #romney-mitt, #rubio-marco, #senate, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

How to Save on Your Taxes and Other Last-Minute Tax Tips

You may still be able to reduce your tax bill by contributing to an I.R.A., for instance. And if you have questions, the I.R.S. is offering free walk-in help on Saturday.

#content-type-service, #federal-taxes-us, #income-tax, #individual-retirement-accounts, #internal-revenue-service, #personal-finances, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

Income Taxes for All? Rick Scott Has a Plan, and That’s a Problem.

The “Plan to Rescue America” is dividing the party and cheering Democrats, and its author, Senate Republicans’ top campaign official, won’t stop talking about it.

#democratic-party, #elections-senate, #federal-taxes-us, #income-tax, #mcconnell-mitch, #national-republican-senatorial-committee, #republican-party, #scott-richard-l, #united-states-politics-and-government

Missing From Biden’s Budget: His Signature Policy Agenda

The Build Back Better package that has consumed Congress for months was relegated to the footnotes.

#biden-joseph-r-jr, #federal-budget-us, #federal-taxes-us, #law-and-legislation, #united-states-politics-and-government

Biden Aims to Boost Military and Social Spending in 2023 Budget

The president will unveil his latest budget proposal amid war in Ukraine and concerns at home about rising costs.

#biden-joseph-r-jr, #defense-department, #democratic-party, #economic-conditions-and-trends, #federal-budget-us, #federal-taxes-us, #treasury-department, #united-states-economy, #united-states-politics-and-government, #veterans-affairs-department

Washington Is Getting Extra Serious and Extra Silly

Not for the first time. 

#biden-joseph-r-jr, #bush-george, #coronavirus-2019-ncov, #democratic-party, #federal-taxes-us, #jackson-ketanji-brown-1970, #powell-sidney-attorney, #presidential-election-of-2020, #putin-vladimir-v, #republican-party, #russian-invasion-of-ukraine-2022, #thomas-clarence, #thomas-virginia-lamp, #trump-donald-j, #united-states-economy, #united-states-international-relations, #voter-fraud-election-fraud, #war-and-armed-conflicts

Biden to Include Minimum Tax on Billionaires in Budget Proposal

The tax would require that American households worth more than $100 million pay at least 20 percent on their full income, as well as unrealized gains in the value of liquid assets like stocks.

#biden-joseph-r-jr, #federal-budget-us, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #united-states-politics-and-government

Paying Taxes in 2022: What You Need to Know

Did you make money on GameStop? Miss a stimulus payment? Have a student loan forgiven? Let our guide fill you in.

#content-type-service, #federal-taxes-us, #income-tax, #internal-revenue-service, #student-loans, #tax-credits-deductions-and-exemptions, #unemployment-insurance

Tax Troubles for Some Investors in Vanguard’s Target Date Funds 

Retirement investments that are fine in tax-sheltered accounts can generate big headaches without that protection. Vanguard’s target date funds are a case in point.

#asset-allocation-personal-finances, #capital-gains-tax, #content-type-service, #federal-taxes-us, #income-tax, #mutual-funds, #pensions-and-retirement-plans, #stocks-and-bonds, #vanguard-group-inc

As Home Sale Prices Surge, a Tax Bill May Follow

Single sellers can exclude $250,000 from their taxable profit and married sellers $500,000. The amounts haven’t changed in 25 years.

#capital-gains-tax, #content-type-service, #federal-taxes-us, #internal-revenue-service, #personal-finances, #real-estate-and-housing-residential

Hunter Biden Paid Tax Bill, but Federal Investigation Goes On

The Justice Department inquiry into the business dealings of the president’s son has remained active, with a grand jury seeking information about payments from around the world.

#archer-devon, #biden-hunter, #biden-joseph-r-jr, #boies-schillerflexner, #burisma-holdings-ltd, #delaware, #federal-taxes-us, #foreign-agents-registration-act, #justice-department, #trump-donald-j, #united-states-politics-and-government, #weiss-david-c-1956

IRS Plans to Hire 10,000 Workers to Clear Tax Return Backlog

More than 20 million returns remain unprocessed, the agency said.

#american-rescue-plan-2021, #federal-taxes-us, #house-of-representatives, #internal-revenue-service, #labor-and-jobs, #rettig-charles-p

The I.R.S. plans to hire 10,000 workers to clear a tax return backlog.

More than 20 million returns remain unprocessed, the agency said.

#american-rescue-plan-2021, #federal-taxes-us, #house-of-representatives, #internal-revenue-service, #labor-and-jobs, #rettig-charles-p

I.R.S. Braces for Another Chaotic Tax Season

A shortage of staff and equipment has stalled America’s fiscal machinery.

#federal-budget-us, #federal-taxes-us, #internal-revenue-service, #united-states-politics-and-government

Free Options for Filing Your Taxes

Many of the no-cost online services have age or income limits. But some are available to anyone.

#content-type-service, #elderly, #federal-taxes-us, #income-tax, #internal-revenue-service, #personal-finances, #rebates-and-refunds, #tax-preparers-and-preparation

Prosecutors Leading Trump Fraud Investigation in NY Resign

The prosecutors had abruptly stopped presenting evidence to a grand jury in the high-stakes criminal investigation into the former president’s business practices.

#appraisals-and-valuation-property, #bragg-alvin, #corporate-taxes, #deutsche-bank-ag, #dunne-carey-r, #federal-taxes-us, #frauds-and-swindling, #james-letitia, #manhattan-nyc, #pomerantz-mark-f, #property-taxes, #suits-and-litigation-civil, #trump-organization, #trump-donald-j, #united-states-politics-and-government, #vance-cyrus-r-jr

Trump Organization and Allen Weisselberg Seek Dismissal of Fraud Charges

In court papers, the former president’s family business and Allen Weisselberg, its longtime chief financial officer, called the case against them politically motivated.

#bragg-alvin, #federal-taxes-us, #income-tax, #internal-revenue-service, #manhattan-nyc, #trump-organization, #trump-donald-j, #weisselberg-allen

I.R.S. Will Allow Taxpayers to Forgo Facial Recognition Amid Blowback

The agency, dealing with controversy over its decision to use facial recognition software, said it would allow taxpayers to authenticate their accounts with a live, virtual interview.

#computer-security, #facial-recognition-software, #federal-taxes-us, #idme-inc, #internal-revenue-service, #privacy, #tax-preparers-and-preparation

I.R.S. to Start Tax Season With Major Backlog

At least 10 million returns from last year remain unprocessed because of short-staffing at the tax collector, according to the national taxpayer advocate.

#child-tax-credits-and-stipends, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #internal-revenue-service, #tax-preparers-and-preparation, #taxpayer-advocate-service, #united-states-economy

The I.R.S. Warns of Messy Tax Filing Season

The agency, which has been hobbled by paperwork backlogs and short staffing, said tax filers should expect a lower level of service this year.

#coronavirus-2019-ncov, #federal-taxes-us, #income-tax, #internal-revenue-service, #stimulus-economic, #united-states-politics-and-government

Trump Fraud Inquiry Won’t Be Resolved When Vance’s Term Ends Next Week

After leading a three-year investigation into the former president, the Manhattan district attorney, Cyrus R. Vance Jr., will hand it to his successor.

#appraisals-and-valuation-property, #banking-and-financial-institutions, #bragg-alvin, #deutsche-bank-ag, #family-business, #federal-taxes-us, #frauds-and-swindling, #james-letitia, #manhattan-nyc, #pomerantz-mark-f, #tax-evasion, #trump-organization, #trump-donald-j, #united-states-politics-and-government, #vance-cyrus-r-jr, #weisselberg-allen

Behind Kentucky’s Tornado Recovery Plan

On states that bite the hand that feeds them.

#economic-conditions-and-trends, #economics-theory-and-philosophy, #federal-aid-us, #federal-taxes-us, #internal-sub-only-nl, #international-trade-and-world-market, #kentucky, #paul-rand, #united-states-economy, #urban-areas

Rift Between Wyden and Son Shows the Challenge of Taxing the Ultrarich

A dispute between Ron Wyden, the Democratic Senate Finance Committee chairman, and his hedge fund-manager son illustrates how the merely rich help the fabulously rich resist tax increases.

#biden-joseph-r-jr, #federal-taxes-us, #hedge-funds, #high-net-worth-individuals, #income-tax, #musk-elon, #senate-committee-on-finance, #tax-shelters, #united-states-politics-and-government, #wyden-ron

Local News Outlets May Reap $1.7 Billion in Build Back Better Aid

A small paper like The Storm Lake Times in Iowa would receive a big tax credit. So would Gannett, the nation’s largest news publisher.

#cullen-art-journalist, #federal-taxes-us, #gannett-company-inc, #law-and-legislation, #news-and-news-media, #newspapers, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

House Narrowly Passes Biden’s Social Safety Net and Climate Bill

The vote was months in the making for the roughly $2 trillion measure, one of the most consequential bills in decades. Now it faces a difficult path in the Senate.

#american-families-plan-2021, #biden-joseph-r-jr, #child-care, #congressional-budget-office, #corporate-taxes, #democratic-party, #federal-taxes-us, #health-insurance-and-managed-care, #house-of-representatives, #immigration-and-emigration, #law-and-legislation, #mccarthy-kevin-1965, #medicare, #national-debt-us, #pelosi-nancy, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

C.B.O. Finds Biden’s Spending Bill Not Fully Paid For

The White House and Congressional Budget Office are at odds over how much revenue the Internal Revenue Service could recoup from tax cheats.

#american-families-plan-2021, #american-jobs-plan-2021, #congressional-budget-office, #democratic-party, #federal-budget-us, #federal-taxes-us, #house-of-representatives, #internal-revenue-service, #tax-evasion, #united-states-politics-and-government

How Revenue for Biden’s Social Policy Bill Depends on the I.R.S.

The head of the Congressional Budget Office said on Monday that beefed-up tax enforcement would raise far less money than the White House projected.

#biden-joseph-r-jr, #congressional-budget-office, #debt-collection, #federal-budget-us, #federal-taxes-us, #internal-revenue-service, #rettig-charles-p, #tax-evasion, #taxation, #treasury-department, #united-states-politics-and-government

Supreme Court Looks at Puerto Rico’s Status in Case on Benefits

A federal law excludes residents of Puerto Rico from a Social Security program that provides monthly payments to needy people.

#constitution-us, #federal-taxes-us, #puerto-rico, #social-security-us, #supreme-court-us, #united-states-politics-and-government

Behind Elon Musk’s Twitter Poll Is a Tax Bill Coming Due

He asked whether he should sell 10 percent of his stock, and Twitter voters said yes. Stock options he was granted in 2012 are “a ticking tax time bomb,” one expert said.

#executive-compensation, #federal-taxes-us, #musk-elon, #stocks-and-bonds, #tesla-motors-inc

Democrats Employ Budget Gimmicks They Once Derided

Budget experts say true cost of legislation could be $4 trillion as lawmakers rely on sleights of hand to bring down the price tag.

#american-rescue-plan-2021, #corporate-taxes, #federal-budget-us, #federal-taxes-us, #income-tax, #law-and-legislation, #tax-cuts-and-jobs-act-2017, #taxation, #united-states-economy, #united-states-politics-and-government

Biden Finds Raising Corporate Tax Rates Easier Abroad Than at Home

As the Group of 20 seals a new global minimum tax for companies, the president has scaled back his plans to tax U.S. corporations more.

#biden-joseph-r-jr, #corporate-taxes, #corporations, #donohoe-paschal-1974, #europe, #federal-budget-us, #federal-taxes-us, #foreign-investments, #group-of-twenty, #house-of-representatives, #income, #income-tax, #internal-revenue-service, #national-assn-of-manufacturers, #organization-for-economic-cooperation-and-development, #patriotic-millionaires, #tax-cuts-and-jobs-act-2017, #tax-shelters, #treasury-department, #trump-donald-j, #united-states, #united-states-economy, #united-states-politics-and-government, #wages-and-salaries, #yellen-janet-l

How $2 Trillion in Tax Increases in Biden’s Bill Target Companies and the Rich

The proposal to fund the president’s sprawling spending plan mostly turns up the dial on more conventional tax policies, while trying to curb maneuvers that allow tax avoidance.

#biden-joseph-r-jr, #budgets-and-budgeting, #corporate-taxes, #corporations, #executive-compensation, #federal-budget-us, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #stock-buybacks, #tax-credits-deductions-and-exemptions, #tax-shelters, #treasury-department, #united-states-politics-and-government