Taxes

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.

The first monthly payment of an expanded and newly advanceable child tax credit from the American Rescue Plan will be made on July 15, the U.S. Treasury Department and the IRS jointly announced Monday.

President Biden on Wednesday suggested that he is open to negotiating with Republicans on his proposed corporate tax hike, indicating that nothing that he has put forward is set in stone.

President Biden reiterated his pledge that no American earning less than $400,000 would pay “a single penny” in additional taxes with a slight twist on Monday, after he proposed several tax increases to fund two sweeping spending plans.

President Biden is continuing to hit the trail this week to drum up support among the American people for his $4 trillion spending proposals designed to redistribute trillions and dramatically expand the government-funded social safety net.