Tag: National taxes
Tax-loss harvesting turns losses into gains. Here’s when to skip it
When the stock market dips, a strategy known as tax-loss harvesting can be a silver lining. But it doesn't make sense for all portfolios, financial ex [...]
IRS working to boost audit rates for higher earners
Jeffrey Coolidge | Photodisc | Getty ImagesThe IRS is working to boost its audit rates for the wealthiest Americans, according to a statement recently [...]
As number of billionaires climbs, new calls for wealth taxes emerge
A mobile billboard calling for higher taxes on the ultra-wealthy depicts an image of billionaire businessman Jeff Bezos, near the U.S. Capitol on May [...]
Tax pros ‘horrified’ by IRS decision to destroy data on 30 million filers
courtneyk | E+ | Getty ImagesAn audit by the Treasury Inspector General for Tax Administration revealed the IRS has tossed data for millions of payers [...]
IRS insists destruction of taxpayer data won’t affect payers
alfexe | iStock | Getty ImagesFilers won't be affected by the IRS decision to destroy data for millions of taxpayers, the agency said in a statement T [...]
Over 60 million tax returns could be completed automatically, study says
Tom Werner | DigitalVision | Getty ImagesThe IRS may have the ability to automate nearly half of tax returns, according to a working paper from the Na [...]
Here’s what to do if you missed the April 18 tax filing deadline
Sergey Mironov | Moment | Getty ImagesIf you missed the April 18 tax deadline, you may cut back on penalties by filing your return promptly, according [...]
How companies like Amazon, Nike and FedEx avoid paying federal taxes
The current United States tax code allows some of the biggest company names in the country to not pay any federal corporate income tax.In fact, at lea [...]
There’s a growing interest in wealth taxes on the super-rich
Sen. Ron Wyden, D-Ore., speaks during a Senate Finance Committee nomination hearing on Feb. 23, 2021.Greg Nash | Pool | ReutersAmericans increasingly [...]
Why Biden’s billionaire minimum income tax may be a tough sell
Josh Gottheimer, D-N.J., talks to reporters in Washington, Nov. 4, 2021.Elizabeth Frantz | ReutersPresident Joe Biden has proposed a new tax on the ul [...]
Which countries have the best passports? Most are in Europe
A new index ranks Luxembourg as the top passport in the world for aspiring global citizens. The small European country ranked No. 1 out of 199 places [...]
How to avoid a tax filing rejection if last year’s return is pending
Drakula & Co. | Moment | Getty ImagesThe IRS is backlogged and still sifting through tens of millions of pending returns, including many of last y [...]
Meet Erin Collins, National Taxpayer Advocate for the IRS
Erin M. CollinsSource: Erin M. CollinsIf you're one of the millions of Americans grappling with IRS issues, you may not realize there's another option [...]
The IRS sent more than 45 million refunds. This is the average payment
Bill Oxford | E+ | Getty ImagesThe IRS has issued more than 45 million tax refunds worth almost $152 billion in total, as of March 11, the agency repo [...]
Cash-rich states are slashing taxes amid revenue windfalls
Anchiy | E+ | Getty ImagesAnd this year, at least a dozen states have made cuts or are eyeing reductions, including both temporary and permanent measu [...]