• 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...

  • Traders celebrate after the closing bell on the floor of the NYSE in New York

    The Battle Over Corporate Buybacks

    By Michael Rainey

    Corporate buybacks have hit record highs and dividends are rising too, according to Tuesday’s Wall Street Journal , driven upward by both strong earnings and the $1.5 trillion tax cut Congress passed...

  • Trump’s Infrastructure Plan Falls at Least $1.3 Trillion Short: Wharton

    By Michael Rainey

    President Trump’s $1.5 infrastructure plan calls for $200 billion in direct federal spending, with the remaining $1.3 trillion coming from state, local and private sources. But the unusual financing...

  • Australia Wants to Jump-Start Trump’s Infrastructure Plan

    By Michael Rainey

    During his visit to the White House this week, Australian Prime Minister Malcolm Turnbull is expected to propose using part of his nation’s roughly $2 trillion pension savings pool to invest in U.S...

  • The rising cost of existing tax breaks could add about $3 trillion dollars to the federal debt by 2020.

    Most Americans Aren’t Feeling the Tax Cuts Yet

    By Michael Rainey

    Only a quarter of registered voters are seeing the effects of the recently passed tax cuts in their paychecks, according to a Politico/Morning Consult poll released Wednesday. The majority of...

  • July 21, 2014

    Are We Turning the Dials the Wrong Way?

    “Federal fiscal policy is entering uncharted territory,” Goldman Sachs economists Alec Phillips and Blake Taylor warned Sunday in a research note. Their title: “What’s Wrong with Fiscal Policy?” You...

Taxes Directory

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