Lawyers from top accounting firms do brief stints in the Treasury Department, with the expectation of big raises when they return.
Tag Archives: Taxation
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.
Rescue the System That Rescues Our Workers
The structure of unemployment insurance is broken and does little to help those who pay into it.
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.
As Democrats Push a $3.5 Trillion Bill, a Top Lawmaker Stays Mum on Tax Increases
The silence from Representative Richard Neal of Massachussetts has some liberal Democrats worried that he could thwart the scope of their economic ambitions.
Democrats and Lobbyists Gird for Battle Over Far-Reaching Tax Increases
Congressional committees this week begin drafting tax increases on the wealthy and corporations to pay for a $3.5 trillion social policy bill, but the targets are putting up a fight.
John Yarmuth Is in Favor of Deficit Spending
John Yarmuth is a big fiscal deal. He says we should be open to deficit spending.
Senate Passes $3.5 Trillion Budget Plan, Advancing Sweeping Safety Net Expansion
The blueprint, which would expand Medicaid, provide free preschool and community college, and fund climate change programs, passed along party lines and faces an arduous path ahead.
U.K. Food Review Calls for a Tax on Sugar and Salt
The tax on salt and sugar in processed and restaurant-made foods was among several measures proposed in a sweeping review into England’s food industry.
Global Tax Overhaul Gains Steam as G20 Backs New Levies
The approach marks a reversal of years of economic policies that embraced low taxes as a way for countries to attract investment and fuel growth.
Top Trump Executive Allen Weisselberg Surrenders to Face Charges
The Trump Organization and Mr. Weisselberg have been indicted in connection with a tax investigation and are expected to appear in court later Thursday.
Weisselberg, ‘Soldier’ for Trump, Faces Charges and Test of His Loyalty
The Trump Organization executive is expected to be charged on Thursday, along with the company, as he comes under increasing pressure to turn on the family.
On Infrastructure, Biden Tests the Limits of Having It Both Ways
The president has long pitched himself as both solidly progressive and committed to bipartisanship. His deal with Republicans, coupled with assurances to liberals, attempts to marry the two.
Biden and Senators Reach Broad Infrastructure Deal
The bipartisan agreement is a significant victory, but Democratic leaders say it can pass only once a far larger social policy bill is complete.
Trump Executive Could Face Charges as Soon as This Summer
An investigation into Allen Weisselberg, the Trump Organization’s finance chief, appears to be heading into its final stages as prosecutors increase pressure on him.
Why Billionaires Pay So Little Tax
Leaked documents have reignited a long-simmering debate: Why are the ultrawealthy taxed so differently from those who earn far less?
Fat Cats on a Hot Tin Roof
Pay up, Monopoly Men; freeloading isn’t cool.Â
Bipartisan Group of Senators Announce Proposal on Infrastructure
Five Democrats and five Republicans announced a plan that would be fully paid for, though they did not offer details. Many lawmakers remained skeptical that it would be approved.
ProPublica Report Has Congress Rethinking How to Tax Superrich
A report showing that the richest Americans, including Jeff Bezos, Elon Musk and Warren Buffett, pay almost no taxes has refocused attention on the tax code.
Rich Americans Like Bezos, Musk, Buffett Avoided Income Tax
An analysis by ProPublica based on Internal Revenue Service documents showed billionaires like Jeff Bezos and Elon Musk benefited from vagaries in the tax code.
Yellen’s New Alliance Against Leprechauns
Is the world finally ready to take on tax havens?
Can the Rich Pay for a Better America?
Biden has it mostly right. But will Congress water down his plans?
Biden Pushes for at Least $1 Trillion in Infrastructure Spending
The president, who has proposed raising the corporate tax rate to 28 percent from 21 percent, suggested a willingness to forego that increase in order to secure bipartisan agreement.
Yellen Aims to Win Support for Global Tax Deal
The Biden administration is trying to persuade other nations to approve a global minimum tax as it works to curb profit shifting and raise corporate taxes in the United States.
How ViacomCBS’s Content Deals Cost U.S. Taxpayers $4 Billion
A new report details ViacomCBS’s use of a labyrinthine tax shelter to sell rights to its shows and films overseas.
The Radical Modesty of Biden’s Budget
How to do big things without making bombastic claims.
Biden Banks on $3.6 Trillion Tax Hike on the Rich and Corporations
The White House is proposing substantial increases in personal income tax rates for those earning about a half-million dollars and higher tax rates on large corporations.
Biden’s Budget Sees Low Inflation, Rising Debt and Slow Economic Growth
The proposal sheds new light on President Biden’s economic agenda and underscores the administration’s belief that the country’s fiscal situation is manageable.
What Digital Nomads Need to Know About Taxes Abroad
Working remotely while abroad has obvious appeal. But the tax consequences vary depending on where you go. Here’s what to know.
Republicans Promise Counteroffer as Infrastructure Talks Falter
President Biden and Democrats are facing difficult decisions about how to move their infrastructure plan through Congress as bipartisan momentum flags.
Republicans Push Biden to Divert Federal Aid for Infrastructure
Unexpected receipts, driven in part by taxes on high earners riding a hot stock market, have prompted Republicans to push the president to spend on infrastructure instead.
U.S. Backs Global Minimum Tax of at Least 15% to Curb Profit Shifting Overseas
The Biden administration wants other countries to back a minimum tax as part of its plan to raise the U.S. corporate tax rate to 28 percent from 21 percent.
Tax Day 2021: Here’s What You Need to Know
The I.R.S. said tax filers who needed more time could have an extra month. The federal tax deadline has arrived.
Amid Economic Turmoil, Biden Stays Focused on Longer Term
The president’s advisers are pushing their most detailed argument yet for the long-term benefits of a $4 trillion agenda to remake the American economy.
As Economy Wobbles, Biden Stays Focused on Longer Term
The president’s advisers are pushing their most detailed argument yet for the long-term benefits of a $4 trillion agenda to remake the American economy and improve lives.
Why Did I Think We Could Get Rid of Billionaires?
Billionaires have grown more wealthy and powerful during the pandemic.
When It Comes to Taxes, Being Tracked Can Be a Good Thing
With remote work more common now, tax apps that track your location have become relevant for professionals who want to work wherever they want to live.
Newsom’s Plan: California’s Middle-Class Taxpayers Could Get a Rebate Under Proposal
Faced with a large state surplus and a looming recall election, Gov. Gavin Newsom has proposed giving at least $600 to two-thirds of California taxpayers.
Biden Defends Unemployment Benefits, Provided Workers Accept Job Offers
The president’s comments and a raft of policy announcements were a pushback to Republican criticism of his economic plan after a disappointing jobs report on Friday.
Krugman Wonks Out: Why Doesn’t Cutting Taxes on the Wealthy Work?
Tax cuts for the rich may offer an incentive to work harder, but they’re also a big giveaway that encourages the elite to work less. Â
Chuck Schumer Looks to Bring Biden’s Vision to Life
The Senate majority leader, observing his own 100 days in charge, is responsible for turning sweeping Democratic plans into law.
California Is Awash in Cash, Thanks to a Booming Market
In a single year, the state’s financial outlook has gone from surplus to deficit to surplus as capital gains tax collections have risen amid a soaring stock market and I.P.O. boom.
Why Are Democrats Pushing a Tax Cut for the Wealthy?
Restoring an unlimited federal tax deduction for state and local tax payments is bad politics and bad policy.
What N.Y. State’s Budget Means
Gov. Andrew Cuomo and the Legislature have agreed on a budget that will raise taxes on the wealthy and help those devastated by the pandemic.
With a Big Tax Break, Hong Kong Tries to Soothe the Rich
Beijing, which can’t afford to let its attack on civil liberties scare away global banks and financiers, is offering them a big tax break and other perks.
NY Reaches Deal on $212 Billion Budget to Jump-Start Economic Recovery
Gov. Andrew M. Cuomo and the Legislature have agreed to raise taxes on the wealthy and give aid to renters, businesses and undocumented immigrants.
New York Reaches Deal on $212 Billion Budget to Jump-Start Recovery
Gov. Andrew M. Cuomo and the Legislature have agreed to raise taxes on the wealthy and give aid to renters, businesses and undocumented immigrants.
New York State Is Set to Raise Taxes on Those Earning Over $1 Million
The deal, a sign of Gov. Andrew Cuomo’s weakened influence, would mean wealthy New York City residents would pay the highest combined local tax rate in the nation.
How Lower-Income Americans Get Cheated on Property Taxes
Many homeowners are paying a total of billions of dollars extra because of inequities in assessing property values.
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.