Money and Policy

The IRS said Friday the purchase of personal protective equipment used to combat the spread of COVID-19, including face masks and hand sanitizer, are tax-deductible medical expenses.  

Sen. Joe Manchin, a key centrist Democrat, said this week that he supports a multitrillion-dollar infrastructure package that would be paid for in part by raising taxes. 

The IRS sent out a second batch of stimulus checks this week, delivering payments to another 37 million Americans as part of President Biden's $1.9 trillion American Rescue Plan.  

Sen. Elizabeth Warren's plan to tax the net worth of the wealthiest Americans could reduce U.S. economic growth by 1.2% over the next 30 years, according to a new analysis published this week. 

EXCLUSIVE: West Virginia Gov. Jim Justice is making the case for his proposal to repeal the personal income tax, telling FOX Business it is “an opportunity beyond belief.”

The IRS has already delivered a third round of stimulus checks to 90 million Americans — but not everyone has gotten the full payment for which they're eligible. 

More Americans are eligible to take advantage of a tax break on unemployment benefits under new guidance issued this week by the IRS.

The richest 1% of Americans dodge significantly more in income taxes than the Internal Revenue Service previously estimated, according to a new study released this week.

Executives at some of Wall Street's biggest firms warned New York lawmakers that raising taxes could cause high-income earners who fled the state during the coronavirus pandemic to leave permanently.  

Wealth strategist Rob Luna said President Biden’s proposal to increase the capital gains rate on high earners will impact “real Americans.”

President Biden is committed to fulfilling a key campaign promise and raising taxes on high-income earners amid growing evidence that many wealthy Americans benefited financially from the coronavirus pandemic. 

A second batch of stimulus checks is scheduled to arrive in Americans' bank accounts this week, with most cash payments expected to arrive by Wednesday. 

About 46% of NABE members surveyed believe the Federal Reserve will raise the federal funds target in 2022, while 12% say later this year. Approximately 28% believe interest rates will be raised in 2023 and 12% believe the rate hike will come after 2023. 

One week after President Biden signed the American Rescue Plan into law, the White House is undertaking a new venture: Selling the $1.9 trillion coronavirus relief package to families across the country.  

The IRS is planning to automatically process refunds for out-of-work Americans who received unemployment benefits last year and filed their 2020 returns before a new law waived federal taxes on the first $10,200 in aid. 

The head of the IRS warned this week of potential delays to the launch of the new monthly child tax credit payment program authorized under President Biden's $1.9 trillion stimulus plan.