Biden eyeing capital gains tax as high as 43.4% for wealthy
President Biden will propose boosting the capital gains rate to 39.6% for those earning $1 million or more, an increase from the current base rate...
Tax cheats are costing the US $1 trillion a year, IRS says in sharply higher estimate
The head of the IRS calculated that tax evasion in the U.S. may total $1 trillion a year, a figure that is multiples higher than...
Biden aims to end a corporate tax-cut party that rewards investors
President Biden's $2.25 trillion infrastructure-centered plan relies on higher corporate levies to pay for it. The proposals would change tax benefits that were at the...
IRS to automatically process refunds on unemployment payments
The Internal Revenue Service will automatically process refunds for individuals who paid taxes on their unemployment benefits before Congress passed a law making those payments...
Biden eyes first major tax hike since 1993 in next economic plan
The White House is expected to propose a suite of tax increases targeting corporations and wealthy individuals, sources say. The program has yet to be...
IRS resumes sending balance-due notices after virus mail backlog
The IRS is resuming sending out notices that alert individual taxpayers that they have a balance due and what their payment options are. The agency...