Taxes

The first installment of the new child tax credit will begin to hit the bank accounts of an estimated 39 million parents Thursday, and President Biden hailed the payments as one of the most consequential achievements of his presidency.

Mick Mulvaney told FOX Business' "Mornings with Maria" that there is "no way" to pay for Senate Democrats' $3.5 trillion spending bill without raising taxes on the middle class.

Treasury Secretary Janet Yellen on Monday called on European holdout countries that have not signed onto the global minimum tax deal to support the breakthrough agreement, though she has said it's not necessary for all nations to adopt it.

Billionaire investor Warren Buffett downplayed the importance of dynastic wealth in the U.S.– and said it would become even less important in the future.

The IRS this week laid out the top 12 scams taxpayers should watch out for in 2021, with a heavy focus on schemes focused on COVID-19 relief.

The push to establish a global minimum tax – backed by President Biden – has support from 130 countries and territories, according to the Organization for Cooperation and Economic Development.

The city council of San Jose, California, has unanimously voted in favor of issuing a tax on firearm owners and requiring them to carry additional insurance in a scheme they say will help compensate the city for the costs of gun violence.

Trump Organization and CFO Weisselberg surrendered on Thursday.

President Biden traveled to La Crosse, Wisc. to drum up support for a bipartisan infrastructure deal reached last week that he touted will not raise taxes on those earning less than $400,000.

Parents can now check their eligibility status for the expanded child tax credit and manage the monthly payments using two new online tools the IRS launched this week.

Vice President Kamala Harris on Monday wore a new hat in the Biden administration – publicizing the expanded Child Tax Credit – while she has taken criticism for failing to visit the border since she was named border czar in March.

The IRS recently rejected the tax-exempt status request for a Texas-based Christian group over its purported ties to the Republican Party.

President Biden's proposed corporate tax hike could have unintended consequences on middle-class Americans.

The amount of tax liability that is not paid by taxpayers is likely to hit trillions of dollars over the next ten years, a Treasury Department official said on Thursday.

Fox Business host Larry Kudlow host reacted Wednesday to leaked tax records of wealthy Americans to ProPublica, calling for an “immediate” investigation on "Kudlow."

Parents can look forward to some extra cash beginning on July 15, when the IRS starts issuing an expanded child tax credit to millions of families.

Vice President Kamala Harris and the Second Gentleman Doug Emhoff reported earning millions of dollars in 2020, but donated a small fraction to charity, according to tax documents released by the White House on Monday.

President Biden experienced a decline in income as he campaigned for, and assumed, the presidency during tax year 2020.

New York Gov. Andrew Cuomo made millions off of his bestselling book about leadership during the coronavirus pandemic, despite multiple ongoing investigations into how he handled deaths at nursing homes during the height of the COVID-19 outbreak.

At least 7 million Americans will likely qualify for tax refunds on unemployment benefits they collected last year, according to a new report.