IRS announces sweeping effort to restore fairness to tax system …
IRS announces sweeping effort to restore fairness to tax system with Inflation Reduction Act funding; new compliance efforts focused on increasing scrutiny on high-income, partnerships, corporations and promoters abusing tax rules on the books.
Trump Keeps Promising New Tax Cuts. Other Republicans Are Wary.
1 day ago · When former President Donald J. Trump started proposing new tax cuts on the campaign trail, pledging “no taxes on tips” in June, Republicans rallied around his idea. Even Vice President Kamala...
Harris Tax Plan vs. Trump Tax Plan | Election 2024 - Tax Foundation
The Biden-Harris Administration, under the proposed budget for fiscal year 2024, would increase tax rates on corporate, individual, and capital gains income; expand tax credits for workers and families; expand tax bases to include more types of income; expand the current Section 232 tariffs on steel and aluminum to apply to certain imports from ...
How your taxes will change when Tax Cuts and Jobs Act expires in …
Jul 22, 2024 · Tax brackets, income tax rates, child tax credit, state and local tax deductions, mortgage interest deductions and much more will literally change overnight. The potential changes sound...
Tax updates and news from the IRS | Internal Revenue Service
Taxpayers face a number of issues due to critical tax law changes that took place in 2022 and ongoing challenges related to the pandemic. The IRS continues to share updated information for people preparing to file their 2022 tax returns as well as anyone who has previous year tax returns awaiting processing by the IRS.
US Tax Reform Plan: Federal Flat Tax | Tax Foundation
Jun 29, 2023 · Analysis of the growth and opportunity US tax reform plan, includes a federal flat tax, distributed profits tax, and eliminating the federal estate tax.
Tax Reform Options for 2025 (and Beyond) - Tax Foundation
Mar 28, 2024 · Tax Foundation economists have evaluated multiple options for changing the trajectory of federal tax policies. See 2025 tax reform options.
Washington Prepares for the ‘Super Bowl of Tax’
Jul 31, 2024 · The Biden administration has said it would seek to pay for extending tax cuts next year in part by raising the corporate tax rate, raising the highest marginal income rate, and making...
Tax Reform - Internal Revenue Service
Sep 29, 2022 · Tax Reform. IRS Publication 5318, Tax Reform: What’s New for Your Business Provides information about changes to deductions, depreciation, expensing, credits, fringe benefits and other items that may affect your business. The IRS is working on implementing the Tax Cuts and Jobs Act (TCJA).
Taxes - The Latest News on Taxes, Tax Deductions, Income Taxes …
Oct 4, 2024 · The latest personal finance news, analysis and insights, covering retirement, how to manage your savings, tax guidance and more.