IRS reports collecting $1 billion from rich households’ back taxes – The Washington Post
The IRS announced Wednesday that it has collected $1 billion in taxes and penalties from hundreds of wealthy households who have accumulated years of delinquent tax debt amid a weakening of IRS enforcement. “The tax claims were not even in dispute. Clearly these people owed back taxes,” IRS Commissioner Danny Wuerfel said on a conference […]
UK general election live: study finds ‘huge rise in working households pushed into poverty’ under Tories | General election 2024
Important Events Conservative Party suffers electoral setback as resources are diverted to defend ministerial seats Eleni Kourea As the Conservatives retreat to safer ground, they are reallocating resources to defend at least three seats held by ministers with a majority of more than 20,000. Conservative activists and candidates in the neighbouring area have been busy […]
There’s ‘More Distress’ in Low-Income Households, But Households ‘Generally’ in ‘Very Good’ Shape
In an interview with CNBC published Monday, Treasury Secretary Janet Yellen said that “some low-income consumers have probably exhausted their savings buffers.”[s] On top of what they’ve been accumulating during the pandemic, we’re seeing a trickle of suffering at the household level. However, despite this, “our economy is good and strong,” “very strong domestic demand” […]
Trump’s proposed tariffs could cost US households $1,500 per year: Report
Former President Donald Trump’s 10% tariff on imported goods could cost American households about $1,500 a year, a new economic analysis has found. Trump, the likely 2024 Republican presidential nominee, has promised to impose a 10% tariff on all foreign goods if re-elected. According to the newspaper, import taxes are levied by sector: $90 per […]