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tax reforms
NY, NJ Republicans pushing for SALT deduction cap as high as $100K
New Jersey Rep. Jeff Van Drew said "inflation" has so "ravaged" taxpayers since then that the SALT cap would have to "at least double."
Trump, Dems pound SALT deduction, but it didn't raise taxes
The damage supposedly done by the SALT cap has been grossly misrepresented by New York politicians in both parties.
Kamala Harris' tax plan would cost nearly 800K jobs: analysis
Trump's economic agenda is projected by the Tax Foundation to increase wages by 0.6%, reduce long-run GDP by 0.2%, and lose about 387,000 jobs.
Gig workers get gouged. Here’s how Trump can help —?and win swing states too
Donald Trump understands the old maxim that taxation is theft, and to that end he’s proposed some interesting ways to ameliorate the burden on actual working people via aggressive tax...
The IRS says audits are about to surge -- here's who's most at risk
The IRS said in a news release Thursday that it's aiming to nearly triple its audit rate.
Hold off on filing taxes -- there are two breaks that could be introduced before Tax Day
Taxpayers may want to delay filing their returns closer to the April 15 deadline as Congress negotiates a $100 billion bill that could offer breaks to both parents and businesses,...
IRS to spend just 4% of $80B funding on customer service despite pledge to help taxpayers
The paltry figure for customer service seems to fly in the face of a vow made by one Treasury Department official.
Yellen tells IRS not to use $80B funding on middle-class, small business audits
Yellen sought to assuage concerns despite sharp criticism from Republicans.
Elon Musk reacts to $80B IRS overhaul in Inflation Reduction Act: 'Seems high'
The IRS could more than double in size with the massive funding.
The Inflation Reduction Act would double IRS agents and audits — but the superrich aren't the real targets
Small-business owners and upper-middle-income workers will likely be the targets of additional IRS audits created by the "Inflation Reduction Act."
80% of new IRS revenue will come from small businesses earning under $200K: tax experts
Small business owners may soon be in a lengthy and expensive battle with the IRS, tax experts warn.
Moderate Dems hold out hope for SALT deduction this year
Moderate Democratic Reps. Josh Gottheimer and Tom Suozzi are holding out hope that the party can pass a version of the Build Back Better bill that includes language to raise...
Ka-ching! Dems plan billionaires' unrealized gains tax to help fund $2T spending bill
Biden’s spending package continues to stall as senior Democrats are hoping to finalize a proposal on a new annual tax on billionaires' unrealized capital gains.
Court upholds Trump law limiting state tax deductions
A federal appeals court unanimously rejected a suit filed by ex-Gov. Andrew Cuomo to overturn a tax overhaul law approved by former President Donald Trump in 2017.
'Leveling playing field': Biden to deliver higher earners tax plan
In delivering his tax-the-rich outline Thursday afternoon, President Biden is expected to talk about “leveling the playing field in our economy to bring down costs."
House Dems seek to raise 'high earners' taxes with repeal of Trump-era cuts
House Democrats are seeking to raise $2.9 trillion in tax revenue by repealing some Trump-era tax cuts, raising taxes for large firms and couples earning over $450,000.
Analysis says Biden's tax plan will effectively cut lower- and middle-class wages
Here's something new to worry about when it comes to President Biden's tax plan: It could hit you in the paycheck. A new analysis from the Tax Policy Center shows...
How taxes turned margarine pink, made ships sink, and more strange results
On Wednesday, President Biden announced his $2 trillion infrastructure package, and part of the plan includes raising taxes on corporations and “high earners.” It’s just the latest example of a...
New York state income tax filing extended to May 17
ALBANY -- New York will push back its state income tax filing deadline for the second year in a row due to the coronavirus pandemic, bringing it in line with...
Surprise: Most NYers did well by Trump’s tax cuts but very rich at risk
By midnight Monday, more than 9 million New Yorkers will have filed their income tax returns for 2018. And most will then have cause to wonder what the Great New...