Yellen: Treasury exploring ways to expand free tax filing program
Treasury Secretary Janet Yellen told lawmakers Wednesday that the department is considering ways to expand the limited direct-file testing program, including possible enhancements and applicable tax credits. The free program is a scaled-down version of popular tax-preparation software, but it faces fierce opposition from Republicans and the tax-preparation industry. The tax preparation industry previously maintained […]
Financial Illiteracy Is Real: David Bakhtiari Comes Up With Tax Plan That’s Way Off Base (Here’s What We Should Do)
No, David. Just no. We might be only hours away from the 2024 NFL Draft, but as far as David Bakhtiari is concerned, he wants to talk about taxes. I’m game. The former left tackle of the Green Bay Packers took to social media Wednesday to talk about his “solution” to America’s tax problems. So what […]
IRS' Direct File pilot ends 2024 tax season with 140,000 filers – USA TODAY
More than 140,000 taxpayers in 12 states filed their taxes for free this year using the IRS’ Direct File pilot program, but whether that counts as success depends on who you ask. . During the final week of tax season, which ended April 15, the IRS announced it was processing more than 5,000 received returns […]
IRS Direct File website might be renewed for another tax season – The Washington Post
The Biden administration announced Friday that its first-of-its-kind free tax filing website came within budget, received positive reviews from users, and officials will decide this spring whether to renew the pilot program for next tax season. . The software is similar to commercial products offered by companies like Intuit and H&R Block, which allow taxpayers […]
President Biden, former President Trump and Republican lawmakers battle over Trump tax cuts
Ahead of the 2024 election, rhetoric is intensifying about competing visions for taxes from Democrats and Republicans. The elections will determine whether individual provisions of the 2017 Trump tax cuts are extended, amended or thrown into Congress’ trash can. President Biden, members of key tax writing committees, and tax advocates from across the ideological spectrum […]
Biden’s capital gains tax proposal could crush the economy, experts say
President Biden’s latest proposal to raise capital gains tax rates to the highest level in more than 100 years has come under sharp criticism from experts who warn that such a step could have a significant negative impact on the U.S. economy. ing. The president’s fiscal year 2025 budget proposal would raise the top marginal […]
Biden’s capital gains tax: What’s at stake for Bitcoin holders like you? – AMBCrypto News
Biden’s 44.6% capital gains proposal has raised questions in the cryptocurrency community about its impact. Views differ on Mr. Biden’s tax increases, with some concerned and others indifferent. With the US election just around the corner, all eyes are on President Biden’s 2025. budget proposal. Mr. Biden proposed raising the capital gains rate to a […]
Ex-Packer David Bakhtiari Calls for Flat Tax
It’s been less than 24 hours since the NFL Draft began, and football buzz is heating up. That means it’s time to start talking about tax reform. you read that correctly. The former Packers left tackle posted a solution to the country’s tax problem on X Wednesday. His solution? It is a flat tax. “I […]
Billionaire tax to bolster Social Security popular in swing states
Voters in battleground states overwhelmingly support taxing billionaires to support Social Security benefits, a new poll finds. More than three-quarters (77 percent) of voters in seven key battleground states supported the idea of raising taxes on millionaires to extend the lifespan of Social Security, according to Bloomberg News/Morning Consult. That’s what it means. The study […]
Tax Day has to be the favorite holiday of Biden, Democrat Party: GOP rep
House Ways & Means Committee chairman Jason Smith, R-Mo., reacts to the Iranian attack on Israel, the IRS’ targeting of those … source