The latest effort to narrow the preferential tax treatment used by private equity executives failed after Senator Kyrsten Sinema objected.
Tag Archives: Income Tax
Carried Interest Is Back in the Headlines. Why It’s Not Going Away.
Changes demanded by Senator Kyrsten Sinema will preserve a tax loophole that Democrats have complained about for years.
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.
Analysis Deems Biden’s Climate and Tax Bill Fiscally Responsible
Despite Republican claims, the new legislation would be only a modest corporate tax increase, Congress’s Joint Committee on Taxation found.
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.
The Pandemic Flight of Wealthy New Yorkers Was a Once-in-a-Century Shock
New tax data reveal a steep population loss in 2020, toward the start of the pandemic. The exodus was temporary, but how much of its effects could be permanent?
Will Biden’s Gas Tax Holiday Make a Difference?
Many economists say suspending federal taxes on gas will not significantly cut prices for consumers.
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?
Will Eric Adams Release His Taxes?
Mayor Adams initially refused to commit to releasing his tax returns, breaking with tradition and resurrecting questions over his transparency.
Biden’s Tax Forms Show He and the First Lady Earned $610,702 in 2021
The president and his wife, Dr. Jill Biden, also reported donations of $17,394 to 10 charities.
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.
A Popular British Politician Falls From Grace Over a Tax Scandal
Rishi Sunak was once considered a potential successor to Prime Minister Boris Johnson. Now he faces scrutiny over his wealthy wife’s tax status, and over holding an American green card while in office.
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.
Biden’s $5.8 Trillion Budget Pivots Toward Economic and Security Concerns
The president released his latest budget proposal amid war in Ukraine and concerns at home about rising costs.
Here’s the Neat Trick of Biden’s Billionaire Tax
How to convince the Supreme Court that the plan is constitutional?
Biden Proposes Tax on Billionaires as Way to Fund Economic Agenda
The new tax would apply to the richest Americans and would target unrealized capital gains.
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.
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.
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.
A Tax Accountant on How This Year Is Different
From the child tax credit to stimulus checks, there are a lot more questions this tax season, says the head of an accounting firm in Brooklyn.
The Hidden Story of the North’s Victory in the Civil War
Roger Lowenstein’s “Ways and Means” offers a fresh perspective on the Civil War by explaining the importance of financing.
Free Options for Filing Your Taxes
Many of the no-cost online services have age or income limits. But some are available to anyone.
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.
These Tax Laws ‘Make Scofflaws of Us All’
Twenty-four states require you to file a return even if you sent just a single work email while there.
Elizabeth Warren Claps Back at Elon Musk
The Massachusetts senator defends her plan to tax billionaires and break up Big Tech.
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.
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.
In Their 80s, and Living It Up (or Not)
Two octogenarians have different reactions to an essay, “Living My Life Again.” Also: “Illiberal democracy”; housing in the Bronx; rich vs. poor
What’s in the $2.2 Trillion Social Policy and Climate Bill
The package includes $400 billion to bolster support for children and families, $555 billion for climate change programs and $166 billion in housing aid.
The ‘Benefits Cliff’ Discourages People From Making More Money
When low-income workers increase their paychecks, they can end up poorer.
Liberal Hypocrisy Is Fueling Inequality
Why do states with democratic majorities fail to live up to their values?
Brexit Brain Drain Delivers Financial Boon to Estonia
The former Soviet satellite state is welcoming British companies looking to escape the tangle of regulations and financial obstacles of doing business in Europe.
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.
Democrats Push for Agreement on Tax Deduction That Benefits the Rich
Lawmakers are coalescing around a deal to suspend a $10,000 cap on state and local tax deductions that was imposed during the Trump administration.
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.
A Billionaire’s Tax Isn’t as Crazy as It Sounds
Parts of the existing tax code are not that different from Biden’s proposed tax on the ultrawealthy.
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.
Billionaires Beat the Working Rich in Biden’s Spending Bill
One by one, tax proposals that would have slowed dynastic wealth have been tossed from the agreement.
How Biden’s $2 Trillion in Tax Increases 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.
Democrats Rush to Rewrite U.S. Tax Code in Days
Lawmakers are racing to finalize legislation to pay for new spending initiatives. The process usually takes months, but they are trying to do it in days.
How Democrats Would Tax Billionaires to Pay for Their Agenda
The plan stakes out new territory by putting levies on unrealized gains in the value of billionaires’ liquid assets, such as stocks, bonds and cash.
Democrats Hammer Out Novel Plan to Tax Billionaires and Corporate Giants
New proposals would fund social and climate programs by tapping billionaires’ unrealized gains and by ensuring that the biggest companies cannot avoid income taxes altogether.
Proposed Tax on Billionaires Raises Question: What’s Income?
Democrats are homing in on unrealized capital gains raises as a way to help fund their social spending bill.
Tax Evasion and the Republican Party
By enabling resistance to lawful taxation, Republicans are undermining democracy.
Democrats Consider Billionaires Tax
Senator Kyrsten Sinema’s refusal to accept corporate, individual or capital gains tax rate increases has led Democrats to consider proposals once championed by the party’s most liberal flank.
Democrats Back Away From Raising Tax Rates to Pay for Agenda
Responding to concerns from a key centrist, Senator Kyrsten Sinema of Arizona, the White House and leading Democrats are instead discussing a range of other taxes to pay for the plan.
The I.R.S. Can Register Voters Just as Well as the D.M.V.
You should be able to join the voter rolls when you file your taxes.
In Push to Tax the Rich, White House Spotlights Billionaires’ Tax Rates
A White House analysis using an unconventional methodology says the wealthiest Americans pay far less in taxes than others.
House Democrats’ Plan to Tax the Rich Leaves Vast Fortunes Unscathed
The House Ways and Means Committee’s proposal to pay for trillions in social spending leaves wealth gains and inheritances largely alone. It focuses instead on a more traditional target: income.
House Democrats Outline Tax Increases for Wealthy Businesses and Individuals
The draft proposal includes raising the corporate tax rate to 26.5 percent for the richest businesses to help pay for President Biden’s sweeping expansion of the social safety net.