Woman at home looking at the bills and taxes. Hirurg | E+ | Getty Images The tax extension deadline is Oct. 15, but you have options if you still can’t pay your balance, experts say. This year, the federal tax deadline was April 15. Those struggling to meet that due date could submit Form 4868 … Read more
Mitali Nikore, Founder & Economist, Nikore Associates, says large number of voters not paying taxes in India is a structural issue. There is a need to look at the corporate taxes and the taxes on small businesses and startups because startups get a lot of exemptions and some support which they should as should MSMEs. … Read more
Republican presidential nominee and former U.S. President Donald Trump applauds on Day 2 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 16, 2024. Elizabeth Frantz | Reuters As former President Donald Trump secures the Republican presidential nomination, both political parties are eyeing Project 2025, a multi-pronged policy plan … Read more
The first presidential debate between U.S. President Joe Biden and former U.S. President and Republican presidential candidate Donald Trump is projected on a screen projector during a watch party hosted by the Michigan Conservative Coalition in Novi, Michigan, U.S., June 27, 2024. Emily Elconin | Reuters With interest rate cuts from the Federal Reserve likely … Read more
Internal Revenue Service Commissioner Danny Werfel testifies before the House Appropriations Committee on Capitol Hill in Washington, May 7, 2024. Kevin Dietsch | Getty Images News | Getty Images The U.S. Department of the Treasury and the IRS on Thursday announced what they called a “major milestone” of collecting more than $1 billion in tax … Read more
Erin Collins, national taxpayer advocate at the Taxpayer Advocate Service, speaks at a Senate Appropriations subcommittee hearing in Washington, D.C., on May 19, 2021. Bloomberg | Bloomberg | Getty Images There’s a pileup of tax identity theft cases at the IRS — but the agency is working on a “range of improvements” to speed up … Read more
Treasury Secretary Janet Yellen criticized former President Trump after he suggested replacing some of the United States’s income taxes with higher tariffs on imports to make up for lost revenue. The former president outlined his idea during a meeting with Republican lawmakers on Capitol Hill last week. Yellen joined ABC’s “This Week” on Sunday, where … Read more
(NewsNation) — Eliminating income taxes and shifting to an “all-tariff policy” would leave roughly a $2.1 trillion gap in government revenue, making daily costs skyrocket in turn, according to financial experts. Former President Donald Trump proposed an “all-tariff policy” that would eliminate income tax during a private meeting with Republican lawmakers in Washington, D.C., on Thursday. Stock market … Read more
Martin Barraud | Ojo Images | Getty Images Many Americans are likely familiar with financial thresholds that are adjusted for inflation each year. They include contribution limits to 401(k) plans, cost-of-living adjustments for Social Security benefits and federal income tax brackets, to name a few. These tweaks help households keep pace with the rising cost … Read more
President Joe Biden and Vice President Kamala Harris deliver remarks about healthcare in Raleigh, North Carolina on March 26, 2024. Peter Zay | Anadolu | Getty Images President Joe Biden and Vice President Kamala Harris released their annual tax returns Monday, and there are lessons within for average Americans, according to tax experts. The president … Read more
