• A general view of the U.S. Internal Revenue Service (IRS) building in Washington

    Spending Bill Includes $320 Million for IRS to Implement Tax Law

    By Michael Rainey

    A frequent target of Republican scorn, the IRS has seen its budget cut significantly in recent years. But the spending deal for 2018 boosts the agency’s budget by $196 million compared to 2017, for a...

  • 22. Construction Superintendent

    Who Benefits from ‘Opportunity Zones’?

    By Michael Rainey

    Governors have until today to nominate “opportunity zones” that are intended to bring investment capital and jobs to low-income communities in their states. The GOP tax bill established rules for the...

  • Will Ancient IRS Technology Eat Your Tax Refund?

    By Michael Rainey

    An essential piece of software involved in processing millions of tax returns for the IRS is “old enough to be a grandparent,” reports Nextgov , and officials are worried about what would happen if...

  • Chart of the Day: US Household Income

    By Michael Rainey

    The Congressional Budget Office released a new report Monday on the distribution of income in the U.S. Ignoring means-tested transfers and federal taxes, the average household income in 2014 was $19,...

  • Democrats’ New Weapon in the Tax Wars: Interactive Maps

    By Michael Rainey

    The political battle over the effects of the Republican tax cuts is heating up, with Democratic lawmakers on the Joint Economic Committee releasing a set of interactive maps Monday designed to show...

  • Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi speak at the National Press Club in Washington

    Repeal the Tax Cuts? Dems Finding It May Not Be So Easy

    By The Fiscal Times Staff

    The Associated Press reports : “From New Mexico to New York, high-profile liberals are calling for the repeal of the Republican tax plan that President Donald Trump signed into law just two months...

  • U.S. President Trump celebrates with Congressional Republicans after passage of GOP tax bill at the White House in Washington

    Who’s Winning from Trump’s Corporate Tax Cuts?

    By Michael Rainey

    The record corporate buybacks so far in 2018 have sparked a growing political debate over the fate of the huge tax cuts passed by Republicans in December. As many critics of the tax overhaul...

  • FILE PHOTO - Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016.   REUTERS/Jason Lee/Illustration/File Photo

    New Tax Bill Takes Aim at US Companies Moving Overseas

    By Michael Rainey

    Critics of the GOP tax overhaul say it rewards U.S. companies for moving jobs and profits offshore and may actually encourage outsourcing compared to the old rules. The liberal Institute on Taxation...

  • Analysis: Citi reaps profits from hiring rainmakers 2-3 years ago

    Banks Take a Temporary Hit from Tax Overhaul

    By Michael Rainey

    The Federal Deposit Insurance Corporation said that bank profits were down 40.9 percent in the fourth quarter of 2017 compared to a year earlier, due primarily to charges related to the tax overhaul...

  • 8. Las Vegas

    Nevada Cashes In on Pot Sales

    By The Fiscal Times Staff

    Marijuana sales became legal — and taxable — in Nevada last July, and the state collected a bit more than $30 million in tax revenue during the first six months, well ahead of projections. A 10...

Taxes Directory

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