$1.3B in unpaid taxes recovered from high-income Americans
The Treasury Department announced Friday that it had collected $1.3 billion in unpaid taxes from high-income Americans. The recovered funds were part of the Biden administration's effort to help wealthy people meet their tax obligations under the Curb Inflation Act. According to a statement from the ministry:. Starting in February 2024, the IRS plans to […]
Bill Belichick talks taxes athletes flocking Massachusetts
Former New England Patriots head coach and one of the most decorated coaches in NFL history, Bill Belichick, spoke about taxes. Legend has it that a Massachusetts law prevented the star football player from signing with the New England Patriots. “Taxachusetts,” he joked. “Even the lowest-paid players are pretty close to $1 million. So when […]
California Dems kill GOP bid to exempt tips from taxes
California's Democratic-controlled Legislature has rejected a Republican proposal to exempt tip income from state income taxes, denying a proposal similar to policy proposals supported by Vice President Kamala Harris and former President Donald Trump. “It is disappointing that the Legislature decided not to consider providing much-needed relief to California workers,” Republican state Sen. Rosilis Ochoa […]
‘This is why taxes suck’: The shocking reality of what star athletes pay in blue-state income taxes
Sports fans are paying close attention to how much income tax athletes pay and how that affects their decisions about where to play. After NBA superstar Stephen Curry signed a two-year contract extension, $110 millionSports investment analysts analyzed how much Curry would lose because of California's tax rate. “This is why taxes are the worst,” […]
How would banning taxes on tips actually work? – NPR
President Donald Trump and Sen. Kamala Harris have both pushed to repeal the tip tax, but economists say that without guardrails, a policy ban on tipping could be abused. Ethan Miller/Getty Images Hide caption Toggle caption Ethan Miller/Getty Images President Donald Trump and Sen. Kamala Harris have both pushed to repeal the tip tax, but […]
Ohio bill would allow parents to claim 'conceived children' on income taxes
Columbus, Ohio (World Cup) – An Ohio lawmaker has proposed a bill that would allow parents to claim their “conceived child” as a dependent on their state income taxes. Rep. Gary Click (R-Vickery) recently introduced House Bill 654, or the Strategic Parenting Tax Option (STORK) bill. The bill would allow Ohioans to include an unborn […]
Kamala Harris Wants to Boost Taxes by $5 Trillion
Democratic presidential candidate Vice President Kamala Harris’ economic plan would increase taxes by $5 trillion over 10 years, according to the American Tax Reform Association. Harris’ campaign Announced President Donald Trump on Monday unveiled a massive economic stimulus package that would reverse former President Donald Trump’s tax cuts, billing it as part of a “fiscally […]
Kamala Harris Wants to Boost Taxes by $5 Trillion
Democratic presidential candidate Vice President Kamala Harris’ economic plan would increase taxes by $5 trillion over 10 years, according to the American Tax Reform Association. Harris’ campaign Announced President Donald Trump on Monday unveiled a massive economic stimulus package that would reverse former President Donald Trump’s tax cuts, billing it as part of a “fiscally […]
Kamala Harris on the hot seat for ‘hiding’ from American people and her ‘Kamalanomics’ plan to increase taxes
Democratic presidential candidate Kamala Harris has announced her economic plan just days before heading to the party’s convention in Chicago, sparking calls for Vice President Harris to hold a press conference. Tim Murtaugh, a senior adviser to the Trump campaign, told Fox News Digital that Harris was “hiding from the American people” and running the […]
Jamie Dimon backs ‘Buffett Rule’ to raise taxes on millionaires
Billionaire banking executive Jamie Dimon has said he supports taxing the wealthy to pay down the national debt. The CEO of JPMorgan Chase said he supports the so-called “Buffett Rule,” which would require everyone making more than $1 million a year to pay a minimum effective tax rate of 30% on their income. Reducing the […]