Taxes

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. 

President Biden will mark his first 100 days in office Thursday, and he has already outlined a number of proposals to raise taxes on the wealthy and corporations to fund his spending programs.

A conservative business advocacy group said President Biden’s first 100 days amounted to a “war on small businesses.”

President Biden will make his first speech to a joint session of Congress on Wednesday night, where he is expected to lay out the next steps in his plans to rebuild the economy – which his administration insists can be paid for by taxing the wealthiest Americans.

Sen. Rand Paul, R-Ky., warned on Sunday that increasing the capital gains tax will lead to a "significant market reaction."

The IRS is in the process of sending out a third round of economic impact payments – but some taxpayers could benefit from filing what is known as a superseding return to receive their cash quicker.

Johnson & Johnson CFO Joseph Wolk on Tuesday questioned the impact of President Biden’s proposed corporate tax hikes.

A growing rift among Democrats over whether to repeal a Trump-era limit on state and local tax deductions is threatening to derail President Biden's $2.25 trillion tax and spending plan.

Former House Speaker Paul Ryan predicted a "big migration" from high-tax cities like New York City.

White House Press Secretary Jen Psaki on Thursday reiterated that repealing the $10,000 SALT cap was part of ongoing negotiations on President Biden’s $2 trillion spending bill, but declined to say whether the White House supports the policy.

The top sliver of wealthy New Yorkers will soon face the highest combined state and city tax rate in the country.

King's College Business & Economics Professor Brian Brenberg says Democrats are trading the U.S.'s competitive advantage for "bigger government and more spending."