No Federal Taxes for Dozens of Big, Profitable Companies

FedEx and Nike are among those found to have avoided U.S. tax liability for three straight years.

#corporate-taxes, #federal-taxes-us, #income-tax, #institute-on-taxation-and-economic-policy, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation, #united-states-economy, #united-states-politics-and-government

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Biden’s Push for Electric Cars: $174 Billion, 10 Years and a Bit of Luck

The president is hoping to make electric vehicles more affordable to turn a niche product into one with mass appeal.

#automobiles, #biden-joseph-r-jr, #electric-and-hybrid-vehicles, #factories-and-manufacturing, #farley-james-d, #ford-motor-co, #general-motors, #infrastructure-public-works, #tax-credits-deductions-and-exemptions, #united-automobile-workers, #united-states, #united-states-economy, #volkswagen-ag

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Democrats Look to Smooth the Way for Biden’s Infrastructure Plan

House Democrats face hurdles to pushing through the president’s big spending plans, including Republican opposition and resistance from their own ranks.

#american-rescue-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-budget-us, #house-of-representatives, #infrastructure-public-works, #senate, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation, #united-states-economy, #united-states-politics-and-government

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How Murray and DeLauro Scored Big Wins in Biden’s Stimulus

After working for decades on the issue, Senator Patty Murray and Representative Rosa DeLauro teamed up to ensure that the stimulus law included a lifeline to the nation’s poorest families.

#american-rescue-plan-2021, #biden-joseph-r-jr, #children-and-childhood, #content-type-personal-profile, #delauro-rosa-l, #democratic-party, #families-and-family-life, #house-of-representatives, #murray-patty, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #women-and-girls

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How Complexity Could Mar Rollout of the New Obamacare Subsidies

The stimulus bill spends billions to help more Americans buy affordable health insurance. But getting those dollars will take some work, and some waiting.

#american-rescue-plan-2021, #health-insurance-and-managed-care, #healthcare-gov, #patient-protection-and-affordable-care-act-2010, #stimulus-economic, #tax-credits-deductions-and-exemptions

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Some Changes That May Affect Next Year’s Tax Return

You might not have filed this year’s return yet, but you should keep in mind that Congress changed the rules on things like charitable contributions and tax breaks for educational expenses for 2022.

#content-type-service, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #philanthropy, #stimulus-economic, #tax-credits-deductions-and-exemptions

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The Tax Headaches of Working Remotely

“Each state has its own rules,” one tax expert says. So if you worked in a state other than your usual one in 2020, here are some tips on dealing with the tax season.

#content-type-service, #coronavirus-2019-ncov, #income-tax, #personal-finances, #quarantine-life-and-culture, #shutdowns-institutional, #states-us, #suits-and-litigation-civil, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation, #taxation, #telecommuting

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How Your 2020 Taxes Are Affected by the Coronavirus Pandemic

New rules, many of them temporary, give taxpayers breaks that can cut their tax bills or even generate extra refunds this year.

#content-type-service, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #income-tax, #internal-revenue-service, #personal-finances, #rebates-and-refunds, #stimulus-economic, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation, #unemployment-insurance

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It May Be Time to Start Worrying About the Estate Tax

Most people have been able to pass on assets like a family home without federal tax, but that could be changing.

#biden-joseph-r-jr, #content-type-service, #federal-taxes-us, #high-net-worth-individuals, #inheritance-and-estate-taxes, #personal-finances, #real-estate-and-housing-residential, #tax-credits-deductions-and-exemptions, #tax-shelters, #taxation, #wills-and-estates

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Need Health Insurance? A Guide to New Options Under the Stimulus.

There is more financial assistance for more people seeking coverage. And many people who are already covered can get discounts, too, if they sign up.

#american-rescue-plan-2021, #content-type-service, #health-insurance-and-managed-care, #medicare, #patient-protection-and-affordable-care-act-2010, #stimulus-economic, #tax-credits-deductions-and-exemptions

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A Break for Working Families

The government is allowing people who qualify for the earned-income tax credit to use income from either 2020 or 2019, whichever will result in a bigger credit.

#content-type-service, #coronavirus-2019-ncov, #families-and-family-life, #income-tax, #internal-revenue-service, #rebates-and-refunds, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

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Biden, Champion of Middle Class, Comes to Aid the Poor

President Biden’s new role as a crusader for Americans in poverty is an evolution for a politician who has focused on the working class and his Senate work on the judiciary and foreign relations.

#american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #house-of-representatives, #income-inequality, #poverty, #recession-and-depression, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

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Congress Clears $1.9 Trillion Aid Bill, Sending It to Biden

The sweeping legislation had no support from Republican lawmakers, who called it bloated and unaffordable. It will deliver emergency aid and broader assistance to low- and middle-income Americans.

#american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #federal-aid-us, #house-of-representatives, #republican-party, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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A Safety Net for American Children

Inside the $1.9 trillion economic stimulus bill, there is a provision that is revolutionary in the way the U.S. government regards minors.

#american-rescue-plan-2021, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #deparle-jason, #families-and-family-life, #income, #stimulus-economic, #tax-credits-deductions-and-exemptions, #united-states-economy

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In the Stimulus Bill, a Policy Revolution in Aid for Children

The $1.9 trillion pandemic relief package moving through Congress advances an idea that Democrats have been nurturing for decades: establishing a guaranteed income for families with children.

#american-rescue-plan-2021, #biden-joseph-r-jr, #black-people, #children-and-childhood, #coronavirus-2019-ncov, #families-and-family-life, #georgia, #house-of-representatives, #income-inequality, #income-tax, #parenting, #poverty, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment, #united-states-economy, #united-states-politics-and-government, #welfare-us

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What’s in the Stimulus Bill? A Guide to Where the $1.9 Trillion Is Going

The measure passed by the Senate, and headed to the House for final approval before going to President Biden’s desk, contains money for direct checks, jobless benefits, state and local aid, and more.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #federal-taxes-us, #health-insurance-and-managed-care, #law-and-legislation, #minimum-wage, #patient-protection-and-affordable-care-act-2010, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Kamala Harris: Women Leaving Work Force During Pandemic Is a ‘National Emergency’

“In one year,” Vice President Kamala Harris said, “the pandemic has put decades of the progress we have collectively made for women workers at risk.”

#biden-joseph-r-jr, #child-care, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #delauro-rosa-l, #harris-kamala-d, #labor-and-jobs, #layoffs-and-job-reductions, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government, #women-and-girls

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‘There’s No Natural Dignity in Work’

Punishing mothers for needing help cannot be the answer. A generous child allowance might be.

#child-care, #poverty, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #welfare-us

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Would Americans Have More Babies if the Government Paid Them?

One policy goal of a child allowance is to reverse declines in fertility, but some experts say improving families’ well-being is more important.

#biden-joseph-r-jr, #birth-rates, #families-and-family-life, #parenting, #research, #romney-mitt, #tax-credits-deductions-and-exemptions, #united-states, #united-states-politics-and-government

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Under Biden and Romney Stimulus Plans, An Approach to Help Families

Under plans by President Biden and Senator Mitt Romney, children would be worthy of government support, no strings attached.

#child-care, #children-and-childhood, #social-security-us, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #welfare-us

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Crisis Spurs Congress Toward Big Measures to Lift Families From Poverty

Lawmakers, including at least one Republican, are focused on providing monthly payments to help families with children make ends meet.

#children-and-childhood, #coronavirus-2019-ncov, #democratic-party, #food-insecurity, #house-of-representatives, #labor-and-jobs, #poverty, #republican-party, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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The Problem With Using Tax Credits to Fight Poverty

Requiring work in exchange for benefits is an unfair system that doesn’t help the neediest. But that could change.

#biden-joseph-r-jr, #black-people, #income-tax, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #welfare-us

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Democrats to Unveil Up to $3,600 Child Tax Credit as Part of Stimulus Bill

The credit would send monthly payments to millions of Americans under certain income thresholds for a year starting in July.

#biden-joseph-r-jr, #children-and-childhood, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #families-and-family-life, #house-of-representatives, #internal-revenue-service, #law-and-legislation, #poverty, #stimulus-economic, #tax-credits-deductions-and-exemptions, #taxation, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

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Why the U.S. Needs the Romney Family Plan

America needs more babies. Public policy alone cannot deliver them, but it can help.

#birth-rates, #conservatism-us-politics, #coronavirus-2019-ncov, #families-and-family-life, #pregnancy-and-childbirth, #romney-mitt, #tax-credits-deductions-and-exemptions, #united-states, #welfare-us

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Legal Pressure on Trump Increases With Judge’s Order in Fraud Inquiry

The order, answering a demand for documents by New York’s attorney general, rejected a bid to shield the records with attorney-client privilege.

#james-letitia, #suits-and-litigation-civil, #tax-credits-deductions-and-exemptions, #trump-organization, #trump-tax-returns, #trump-donald-j

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The First Post-Reagan Presidency

So far, Joe Biden has been surprisingly progressive.

#a-promised-land-book, #appointments-and-executive-changes, #bernstein-jared, #biden-joseph-r-jr, #conservatism-us-politics, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #economics-theory-and-philosophy, #emanuel-rahm, #environment, #executive-orders-and-memorandums, #filibusters-and-debate-curbs, #food-stamps, #hawley-josh-d-1979, #house-of-representatives, #inflation-economics, #interest-rates, #khanna-ro, #leftism-us-politics, #liberalism-us-politics, #minimum-wage, #national-debt-us, #new-deal-1930s, #obama-barack, #politics-and-government, #presidential-election-of-2008, #presidential-election-of-2020, #primaries-and-caucuses, #progressivism-us-politics, #reagan-ronald-wilson, #recession-and-depression, #republican-party, #roosevelt-franklin-delano, #sanders-bernard, #senate, #skowronek-stephen, #stimulus-economic, #tax-credits-deductions-and-exemptions, #taxation, #trump-donald-j, #united-states-economy, #united-states-politics-and-government, #vaccination-and-immunization, #warren-elizabeth

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Focusing the Next Rescue Package

Biden’s good opening proposal should be more targeted to the most needy.

#biden-joseph-r-jr, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #united-states, #united-states-politics-and-government

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Even for Bargain Hunters, Green Cars Make Sense

Electric cars are an even better value than I understood when I first bought one.

#fuel-efficiency, #fuel-emissions-transportation, #greenhouse-gas-emissions, #tax-credits-deductions-and-exemptions

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Biden Wants to Raise Taxes, Yet Many Trump Tax Cuts Are Here to Stay

While Democrats have vowed to repeal the former president’s signature 2017 law, his successor is more likely to tinker with it, given constraints.

#corporate-taxes, #federal-budget-us, #federal-taxes-us, #infrastructure-public-works, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-shelters, #taxation, #trump-tax-returns, #united-states-politics-and-government

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When Biden Becomes … Rooseveltian!

Using a crisis to reduce child poverty and make America more truly a land of opportunity.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #food-insecurity, #great-depression-1930s, #income-inequality, #new-deal-1930s, #poverty, #recession-and-depression, #roosevelt-franklin-delano, #tax-credits-deductions-and-exemptions, #united-states, #united-states-economy, #united-states-politics-and-government

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Tesla Might Finally Have Some Competition. From Ford.

Traditional automakers have struggled to sell electric cars. That could change as Ford, Volkswagen and others introduce new models.

#automobiles, #electric-and-hybrid-vehicles, #ford-motor-co, #oil-petroleum-and-gasoline, #rivian-automotive-llc, #sports-utility-vehicles-and-light-trucks, #tax-credits-deductions-and-exemptions, #tesla-motors-inc, #united-states, #volkswagen-ag

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A Look at What’s in Biden’s $1.9 Trillion Stimulus Plan

The president-elect is rolling out a large spending package aimed at helping battle the virus and alleviate the economic toll it has taken.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-reopenings, #labor-and-jobs, #minimum-wage, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment, #united-states-economy, #united-states-politics-and-government, #vaccination-and-immunization, #wages-and-salaries

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Home Solar Is Growing, but Big Installers Are Still Losing Money

Some companies are having trouble surviving and making money installing panels because of intense competition and the high costs of doing business.

#batteries, #berger-william-john, #building-construction, #coronavirus-2019-ncov, #electric-light-and-power, #global-warming, #jurich-lynn, #mergers-acquisitions-and-divestitures, #small-business, #solar-energy, #stocks-and-bonds, #sunnova-energy-international, #sunrun-inc, #tax-credits-deductions-and-exemptions, #united-states

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Buried in Covid Relief Bill: Billions to Soothe the Richest

The voluminous coronavirus relief and spending bill that blasted through Congress on Monday includes provisions — good, bad and just plain strange — that few lawmakers got to read.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-budget-us, #house-of-representatives, #income-inequality, #mnuchin-steven-t, #senate, #small-business, #stimulus-economic, #tax-credits-deductions-and-exemptions, #treasury-department, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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There’s a Way Biden Can Raise More From the Rich Without Higher Taxes

Increased spending to enforce the existing tax code would pay for itself and then some.

#biden-joseph-r-jr, #income-tax, #internal-revenue-service, #tax-credits-deductions-and-exemptions, #tax-evasion, #tax-shelters, #trump-donald-j

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N.J. Approves $14 Billion in Corporate Tax Breaks in Less Than a Week

The incentive package was pushed by Gov. Philip D. Murphy, a progressive Democrat who has railed against similar tax breaks in the past. His allies are not happy.

#corporate-taxes, #corporations, #law-and-legislation, #new-jersey, #state-legislatures, #tax-credits-deductions-and-exemptions

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ACA Open Enrollment: What If You Make Too Much for a Subsidy?

Millions of middle-income earners may find that paying for their own health care is a huge burden. Here are some tips.

#content-type-service, #coronavirus-2019-ncov, #health-insurance-and-managed-care, #healthcare-gov, #income, #kaiser-family-foundation, #patient-protection-and-affordable-care-act-2010, #personal-finances, #tax-credits-deductions-and-exemptions, #united-states

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Despite Challenges, Opportunity Zones Provide Much-Needed Capital

The program has been criticized for a lack of transparency and for being used as a tax dodge, but developers say it is “a great tool to have in the toolbox.”

#area-planning-and-renewal, #economic-innovation-group, #enterprise-zones, #mixed-use-developments, #real-estate-and-housing-residential, #tax-credits-deductions-and-exemptions

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It’s Easier to Get a Tax Deduction for Donations This Year

Under the pandemic relief program, taxpayers can deduct up to $300, even if they take the standard deduction. And even if $300 doesn’t sound like much, it’s “a big deal” to the needy.

#content-type-service, #coronavirus-2019-ncov, #federal-taxes-us, #nonprofit-organizations, #personal-finances, #philanthropy, #tax-credits-deductions-and-exemptions

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How a Century of Real-Estate Tax Breaks Enriched Donald Trump

The real estate industry has long enjoyed uniquely favorable tax treatment — thanks in part to Mr. Trump’s actions before and after he became president.

#federal-taxes-us, #income-tax, #presidential-election-of-2016, #presidential-election-of-2020, #real-estate-commercial, #tax-credits-deductions-and-exemptions, #tax-shelters, #taxation, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

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Reasons to Sign Up for a Health Savings Account

The money grows tax free, and can act as a sort of 401(k) for future health needs if invested. But just 6 percent of account holders do invest the savings.

#content-type-service, #coronavirus-2019-ncov, #employee-fringe-benefits, #health-insurance-and-managed-care, #healthcare-gov, #personal-finances, #tax-credits-deductions-and-exemptions

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Why Trump’s Taxes Are a Call to Action

For a more equitable system, we need a simpler and fairer tax code.

#democratic-party, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation, #trump-tax-returns, #trump-donald-j, #united-states

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Who’s the Tax Cheat: The Lady in Jail or the Man in the White House?

Donald Trump knows that taxes are for the poor.

#cheating, #federal-taxes-us, #high-net-worth-individuals, #humphreys-county-miss, #income-tax, #internal-revenue-service, #tax-credits-deductions-and-exemptions, #tax-evasion, #trump-donald-j, #united-states-politics-and-government

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The American Dream Is Tax Reform’s Biggest Obstacle

The federal tax code aligns the interests of the middle class with the ultrawealthy. But the alliance may be breaking up.

#congressional-budget-office, #income-tax, #tax-credits-deductions-and-exemptions, #trump-tax-returns, #trump-donald-j, #welfare-us

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Why These Millionaires Are Staying Put Despite a New Tax on Them

The reason has little to do with money. Family and community ties keep them from leaving their state.

#coronavirus-2019-ncov, #cuomo-andrew-m, #high-net-worth-individuals, #income, #personal-finances, #sanders-bernard, #states-us, #tax-credits-deductions-and-exemptions, #taxation, #tepper-david-a, #warren-elizabeth

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A Brief History of the Taxpayer in Chief

From Lincoln to Trump, the president’s attitude toward his taxes has shaped the public’s attitude toward theirs.

#federal-taxes-us, #income-tax, #presidents-and-presidency-us, #tax-credits-deductions-and-exemptions, #trump-tax-returns, #trump-donald-j

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Trump Paid $750 in Federal Income Taxes in 2017. Here’s the Math.

Figures drawn from President Trump’s tax-return data show how that number was calculated.

#alternative-minimum-tax, #federal-taxes-us, #income-tax, #tax-credits-deductions-and-exemptions, #trump-tax-returns, #trump-donald-j

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Tax Strategies to Embrace, or Avoid, Before the November Election

No one knows the outcome of the presidential race or how Congress could adjust the tax code next year. But there are changes taxpayers can make now, financial advisers say.

#federal-taxes-us, #high-net-worth-individuals, #income-tax, #individual-retirement-accounts, #personal-finances, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #wills-and-estates

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The Tax Cut for the Rich That Democrats Love

Why are party leaders fighting to get rid of one surprisingly progressive element of the 2017 tax bill?

#biden-joseph-r-jr, #democratic-party, #federal-taxes-us, #income-inequality, #income-tax, #pelosi-nancy, #presidential-election-of-2020, #schumer-charles-e, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Tips on Spending the Money in College Savings Accounts

Funds in 529 plans grow tax free and can be withdrawn tax free if they’re spent on eligible education expenses. But there is some fine print.

#529-savings-plans, #colleges-and-universities, #content-type-service, #federal-taxes-us, #financial-aid-education, #internal-revenue-service, #personal-finances, #tax-credits-deductions-and-exemptions

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