Hunter Biden tax trial postponed to September
The federal judge presiding over Hunter Biden’s criminal tax trial in California sided with his eldest son’s lawyer and moved the trial from June to September. Judge Mark Scalsi of the U.S. District Court for the Central District of California heard arguments Wednesday at a pretrial hearing after Hunter Biden’s lawyers requested a delay in […]
IRS extends Free File tax program
The IRS tax preparation program, which allows citizens to use certain corporate tax preparation software for free, will be extended through 2029, the agency announced Wednesday. Participating software companies in 2024 include Tax Act, Online Taxes, Tax Hawk, and On-Line Taxes. “Free File remains an important part of the IRS portfolio, allowing taxpayers to file […]
Why Biden’s almost 100% capital gains tax increase would crush the stock market
President Grover Norquist, an American advocate for tax reform, discusses the “key points” of President Biden’s 2025 budget proposal. Many Americans believe that we Divided tax system. One tax table focuses on Americans’ taxation of ordinary income, or income earned from a job or business. Other tax tables focus on Tax long-term capital gainsrefers to […]
Lobbying World: Akin snags former Ways and Means chair ahead of tax fight
Former House Ways and Means Chairman kevin brady (R-Texas) joined. akin As a senior policy consultant and chair of the Tax Drafting Committee, Mr. Brady was instrumental in shaping former President Trump’s signature tax bill, the Tax Cuts and Jobs Act of 2017, which has several provisions set to expire in 2025. played a role. […]
Democrats urge Biden administration to investigate data practices of tax prep companies
Several Democratic lawmakers have called on the Biden administration to ask TurboTax to keep large tax preparation firms private after a recent report found that TurboTax repeatedly pressured tax preparers to share sensitive tax data. They are calling for an investigation into their data practices. Sen. Elizabeth Warren (D-Mass.), Sen. Ron Wyden (D-Ore.), Sen. Richard […]
Labor unions call for repeal of Trump tax cuts
America’s major labor unions say they are tired of President Trump’s tax cuts and want them repealed. Unions including the United Auto Workers (UAW), AFL-CIO, Service Employees International Union (SEIU), Screen Actors Guild of America (SAG-AFTRA), and the National Education Association joined dozens of progressive groups on Tuesday to They sent a letter to Congressional […]
Yellen says US opposed to global tax on billionaires
Treasury Secretary Janet Yellen said the United States does not support a global wealth tax on billionaires, opposing proposals put forward by Brazil, France and other countries. Brazil, which holds the rotating presidency of the Group of 20 (G20) this year, wants the organization to adopt a unified approach to taxing the ultra-wealthy. The world’s […]
Cohen was already a perjurer, fraudster and tax cheat — now he’s also a thief
On Monday, under another round of intense cross-examination, former Trump lawyer Michael Cohen admitted to stealing $60,000 from the Trump Organization. From February to December 2017, Cohen was paid $35,000 a month by the former president. Manhattan prosecutor Alvin Bragg suggested that Mr. Cohen was in fact unable to hold any real work as Mr. […]
Hunter Biden wants tax trial pushed to September, despite judge warning of no ‘significant delay’ plans
His eldest son, Hunter Biden, wants to delay his Los Angeles trial on federal tax charges by more than two months, even though a judge previously warned there were no plans for “significant delays.” President Biden’s son last week filed a lawsuit against U.S. District Judge Mark Scalsi on June 20, citing scheduling conflicts with […]
Yellen bats down proposal for global wealth tax for billionaires
Treasury Secretary Janet Yellen said she does not support a proposal that would impose a global wealth tax on the wealthiest billionaires. Yellen opposes the proposal, put forward by Brazil, which is leading the Group of 20 major economies this year. German, Spanish, and South African officials have also discussed the proposal, which aims to […]