Dow jumps on Treasury pick Scott Bessent’s promise to slash taxes
The Dow Jones Industrial Average rose nearly 400 points on Monday after President-elect Donald Trump's nominee for Treasury secretary, Scott Bessent, laid out his priorities, including tax cuts. In my first interview as a Treasury candidate wall street journalBessent said he would also focus on imposing tariffs, cutting spending and keeping the U.S. dollar as […]
Why state mileage taxes violate your constitutional rights
Does your state charge you a fee for each mile you drive? Oregon has done so since 2015, Utah since 2020, and more states plan to follow suit. There's one problem. The so-called mileage tax is clearly unconstitutional. The right to travel freely is a fundamental right. Therefore, it is protected by the Privileges and […]
Over 800 IRS employees owe millions in back taxes after audits pushed by Ernst – Washington Examiner
The document was shared exclusively in a Nov. 8 letter to Iowa state senators. washington examinerThe IRS noted that of the 2,044 employees who reported balances totaling $12 million or more, 860 employees still have unpaid past due taxes. Of the 70 employees who “deliberately evaded” paying taxes, only 20 were fired. “We haven't seen […]
It might not all be good news: Donald Trump’s plan to eliminate taxes on Social Security – AS USA
In the 1980s, as unions weakened and jobs migrated overseas, pensions began to be replaced by private retirement accounts such as 401(k)s and Roth IRAs. Funds paid into these accounts are deductible, allowing employers to reduce their tax liability. When workers who are offered these retirement benefits begin to retire, their Social Security benefits will […]
IRS announces changes for 2025 taxes – KSBY News
There may be some changes to your 2025 taxes. “This week, we announced 2025 inflation adjustments for approximately 60 tax provisions. The main ones that will affect most people are the standard deduction and tax brackets,” IRS spokesperson Rafael Turino said. said. Turino told KSBY community reporter Carson Wells that the IRS does this every […]
Rep. Mike Lawler says he deserves second term over taxes, border and public safety record
Freshman Congressman Mike Lawler said lower Hudson Valley voters should send him back to Washington, D.C., for another term because of his stance on taxes, border security and public safety. The Republican posted Wednesday that there is a tough choice between him and Democrat Mondaire Jones in the battle for New York's 17th Congressional District, […]
Key inflation gauge doesn’t include credit card interest, property taxes
A key measure of inflation doesn't take into account key expenses that have skyrocketed for consumers since the pandemic, such as interest on credit cards and car loans, tips and even fees paid to babysitters and dog walkers. . The Consumer Price Index (CPI), published monthly by the Bureau of Labor Statistics, measures the average […]
5 things to know about Harris and Trump on taxes
The post-election period will focus on tax policy, as key parts of the tax law expire by the end of 2025. Key parts of former President Trump's flagship 2017 tax cut, the Tax Cuts and Jobs Act, are set to expire in 2026, including lower personal income tax rates. But President Trump and Vice President […]
NY state residents each will have to fork over this much in taxes to cover migrant crisis bill
New York state's 10.7 million taxpayers will have to pay an average of more than $215 to cover the cost of the state's ongoing immigration crisis, according to a new analysis. Put another way, it would take all of the taxes paid by 328,471 New Yorkers to cover the $2.3 billion in taxes needed to […]
Hurricanes could impact millions of Americans’ taxes
Florida CFO Jimmy Patronis joins Fox & Friends to discuss the state's property insurance crisis as residents reel from Hurricane Milton. Tens of millions of Americans living in federal disaster areas may be eligible for some tax relief in the form of late filing, and victims may be able to take a deduction from their […]