Crypto billionaire Michael Saylor pays $40M to settle DC tax fraud case
Billionaire bitcoin bull and MicroStrategy co-founder Michael Saylor will pay $40 million to settle a lawsuit alleging he lied to authorities about his residency for years and committed massive tax evasion, the Washington, D.C., district attorney’s office announced on Monday. Washington, D.C., prosecutors allege that MicroStrategy helped Saylor evade more than $25 million in local […]
J.D. FOSTER: Beware The Big 2025 Tax Con
Language can be decisive in deciding outcomes. Consider how adopting the term “death tax” in lieu of “estate tax” advanced reforms to previously unimaginable success. The Trump tax cuts expire December 31, 2025, and so the ever-higher-tax crowd is working hard to center next year’s debate on similarly advantageous rhetorical ground. But that ground is typical swamp […]
Extend success of UK sugar tax to cakes, biscuits and chocolate, experts urge | Sugar
Health experts say the sugar tax has been so effective in improving people’s diets that it should be extended to include cakes, biscuits and chocolate. The World Health Organisation has called on the next UK government to expand the tax to tackle tooth decay, obesity, diabetes and other diseases. The plea, published in the WHO’s […]
EXCLUSIVE: Ted Cruz Introduces Bill To Scrap ‘Natural Gas Tax’ Wedged Inside Biden’s Climate Legislation
Republican Texas Sen. Ted Cruz is introducing a Senate bill that would repeal a “natural gas tax” proposal enabled by the Inflation Reduction Act (IRA), President Joe Biden’s signature climate bill. The “Natural Gas Tax Repeal Act” would scrap IRA provisions that deputize the Environmental Protection Agency (EPA) to impose fines on energy companies that […]
‘I love campaigning’: Angela Rayner on being back in action after being cleared in tax row | Angela Rayner
Angela Rayner has been described by Labour’s campaign chief as a major electoral weapon, but until this week the party has not been able to make full use of her. Labour’s deputy leader has been facing questions about her residential past for several months while police investigate claims by the Conservative party that she may […]
IRS makes free tax return program permanent and is asking all states to join in 2025 – The Associated Press
WASHINGTON (AP) — The IRS is offering free Electronic Tax Return Filing System The company is piloting the program this year and is asking all 50 states and the District of Columbia to help taxpayers file their taxes through it in 2025. The I.R.S. Direct File Projects for the 2024 tax season Limited to 12 […]
Trump tax cut extensions keep getting more expensive: Analysis
A new analysis from the Committee for a Responsible Federal Budget, a Washington think tank, finds that cost estimates for extending the Trump tax cuts have risen every year, but it’s not clear why. According to current projections from the Joint Committee on Taxation and the Congressional Budget Office, extending the expiring Trump tax cuts […]
Kansas Gov. Kelly to call special legislative session over tax cuts
Kansas Gov. Laura Kelly announced Wednesday that she will call a special legislative session to consider tax cuts, beginning June 18. The move comes after the Democratic governor rejected three Republican tax-cut plans this year, setting up a key election-year fight with the Republican-controlled Kansas Legislature. “I am committed to working with the Legislature to […]
WILFORD: ‘Taxachusetts’ Feels Millionaire Tax Sugar Rush, But The Crash Is Coming
This past tax year marked the first year in which Massachusetts’s new “millionaire tax” — a four percent surtax on income over $1 million earned in the state — hit Massachusetts taxpayers. With the new revenue rolling in, the surtax’s proponents have begun to declare victory over critics who warned that the tax would only […]
Republicans prepare to fast track Trump tax cut extensions in reconciliation
Republicans are preparing to fast-track an extension of the Trump tax cuts through the reconciliation process if they win a landslide victory in November. Nearly seven years after Republicans used budget reconciliation to pass the Tax Cuts and Jobs Act (TCJA), the party is preparing to use the same method to renew key provisions set […]