EU court orders Apple to pay $14.4 billion in back taxes to Ireland
The iPhone maker must pay $14.4 billion in back taxes to the Irish government after the European Union's top court rejected the company's appeal against a landmark 2016 ruling, which CEO Tim Cook denounced at the time as “total political nonsense.” The European Court of Justice in Luxembourg on Tuesday upheld a European Commission decision […]
Trump tax cuts expire after 2025. Here's how the presidential election could affect your taxes – CNBC
As the presidential election approaches, experts are sounding the alarm about the looming expiration of the Tax Cuts and Jobs Act of 2017 (TCJA). Without congressional action, trillions of dollars in tax cuts enacted by former President Donald Trump through the TCJA will expire after 2025. The outcome of the 2024 election will determine which […]
Harris walks tightrope when it comes to taxes
Democrats say Harris' decision to moderately raise capital gains taxes on the wealthy is a step in the right direction to win over voters who worry she is too liberal or too hostile to business. The Trump campaign has portrayed Harris as a liberal firebrand, pointing to the various positions she took during her 2019 […]
IRS collects over $1 billion in back taxes from wealthy dodgers – New York Post
Wealthy tax evaders, beware! The Internal Revenue Service's efforts to collect overdue taxes from the wealthy $1.3 billion Unpaid taxes from people with incomes over $1 million and recognized tax liabilities over $250,000. A sign outside the IRS headquarters in Washington, DC AP Treasury Secretary Janet Yellen and IRS Commissioner Danny Wuerfel announced the latest […]
Business & Economy — IRS hunts down unpaid taxes
Welcome to The Hill's Business & Economics Newsletter {beacon} Business and Economics Business and Economics Full text Biden to sign executive order on labor standards during Michigan visit President Biden is expected to sign an executive order on Friday aimed at ensuring that federal agencies promote strict labor standards, including workplace safety, high wages […]
WATCH: IRS has recovered $1.3 billion in unpaid taxes from wealthy tax dodgers, Yellen says – PBS NewsHour
WASHINGTON (AP) — The IRS has collected $1.3 billion from wealthy tax evaders since last fall, the agency announced Friday, thanks to spending that has boosted collection enforcement through President Joe Biden's signature climate, health care and tax package signed into law for 2022. Treasury Secretary Janet Yellen and IRS Commissioner Danny Wuerfel traveled to […]
$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,” […]