taxes

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Trump Blasts Supreme Court After Rulings on His Records

Court says Manhattan prosecutor can pursue his tax returns, but Congress is rebuffed for now

(Newser) - The Supreme Court on Thursday gave President Trump some good news (at least temporarily) and some bad news in his fight to keep his financial records private. But the upshot of both rulings is that it's unlikely any of Trump's financial information will be made public before the...

Treasury Does 180 on Stimulus Funds for One Set of Americans

Social Security recipients won't have to file tax return to get money

(Newser) - One of the biggest challenges the Treasury Department has in getting Americans their checks from the $2.2 trillion coronavirus stimulus package is tracking down people who don't file tax returns. Now, at least one key group of nonfilers will see that process expedited. The official word, delivered from...

Tax-Filing Deadline Just Got Pushed Back

Americans now have until July 15

(Newser) - Taxpayers now have more time to file their taxes amid the coronavirus outbreak: The deadline has been pushed back to July 15 from April 15, said Treasury Secretary Steven Mnuchin on Friday. "All taxpayers and businesses will have this additional time to file and make payments without interest or...

This Year's Tax-Payment Deadline Isn't April 15

Most Americans get 90-day extension

(Newser) - If you owe Uncle Sam less than $1 million, April 15 is no longer your tax-payment deadline this year. Treasury Secretary Steven Mnuchin on Tuesday announced a COVID-19 delay that the Wall Street Journal calls "unprecedented." Those individuals, as well as businesses that owe no more than $10...

Supreme Court: We'll Take Up Major Trump Case

A ruling could result in the quick release of Trump's personal financial information

(Newser) - The Supreme Court said Friday it will hear President Donald Trump's pleas to keep his tax, bank, and financial records private, a major confrontation between the president and Congress that also could affect the 2020 presidential campaign, the AP reports. Arguments will take place in late March, and the...

'Horrific' Error Values Property at Nearly $1B

And taxpayers might have to pay for it

(Newser) - Utah officials say a possible dropped phone resulted in a typo that overvalued a home for almost $1 billion, the AP reports. And taxpayers may have to pay for the mistake. The Deseret News reports a house built in 1978 in an unincorporated area of the county was recorded in...

Elizabeth Warren&#39;s New Critic: Bill Gates
Billionaires
Fighting Back
Over Warren's
Proposals
the rundown
Nov 7, 2019 9:50 AM CST

Billionaires Fighting Back Over Warren's Proposals

Bill Gates is the latest to cry foul

(Newser) - Elizabeth Warren has been taking heat over her progressive policy ideas, not just from President Trump but from Democratic rivals who favor a more moderate approach. Now you can add Bill Gates to her list of critics. At a forum Wednesday, Gates didn't sound thrilled about Warren's idea...

2018&#39;s &#39;Maddening&#39; Tax Rates Unveiled
2018's 'Maddening'
Tax Rates Unveiled
NEW STUDY
Oct 9, 2019 8:18 AM CDT

2018's 'Maddening' Tax Rates Unveiled

400 richest US households paid lower rate than bottom 50%: economists

(Newser) - America's richest billionaires paid a lower average tax rate than the working class for the first time in US history in 2018, according to a new study. The book-length research, The Triumph of Injustice , comes from Emmanuel Saez and Gabriel Zucman, the same economists who inspired Elizabeth Warren's...

Sanders Just One-Upped Warren on a Signature Issue

Sanders' wealth tax proposal would affect more households, raise more revenue: economists

(Newser) - Elizabeth Warren is suddenly facing competition on the signature issue of her presidential campaign. Enter Bernie Sanders, who on Tuesday unveiled his plan to "substantially reduce wealth inequality in America and stop our democracy from turning into a corrupt oligarchy." Whereas Warren backs a 2% wealth tax on...

Warren's Social Security Plan Calls for a Raise

She wants people to get $200 more a month, and she wants the rich to pay for it

(Newser) - Elizabeth Warren is out with her latest policy proposal, and she's calling for those on Social Security to receive an extra $200 a month. In a post at Medium detailing the proposal, Warren says the increased benefits would be paid for by raising taxes on the wealthy. The plan...

Trump: I'm Mulling Tax Cuts, But R-Word Is 'Inappropriate'

The president says he's looking at capital gains and payroll tax cuts

(Newser) - President Donald Trump says his administration is a looking at tax cut proposals but not as a response to a potential recession, the AP reports. "I'm looking at that all the time anyway," he explained. Trump talked about the economy and trade with China during a meeting...

Trump Tweets His Response to $1B Loss Story

He cites 'massive write offs and depreciation' following 'hit job'

(Newser) - With #BillionDollarLoser and #BiggestLoser trending on Twitter, President Trump went on the defense Wednesday, suggesting a reported $1.1 billion in losses over 10 years was no big deal. Real estate developers in the 1980s and '90s "were entitled to massive write offs and depreciation which would, if...

Congress May Kill Chance of Free IRS Tax Filing

ProPublica reports that a bipartisan bill would bar the creation of such a system

(Newser) - It's beginning to look like the IRS will never provide a free online tax-filing system for Americans, reports ProPublica . The news outlet blames heavy lobbying from the likes of TurboTax and H&R Block. A bill with bipartisan support has cleared the House Ways and Means Committee, and one...

NJ and Hawaii: Thousands Apart, in Miles, Property Taxes

Garden State has highest US property taxes, Aloha State the lowest, based on median home value

(Newser) - What do Hawaii and New Jersey have in common? Probably not much, but especially when it comes to property taxes, per WalletHub , which says what you pay on your real estate can range from a "small inconvenience" to a "major burden." The Aloha State falls under the...

Guess What Amazon Paid in Taxes Last Year

If you guessed $0, you're close. It's less than $0.

(Newser) - Amazon, pay federal taxes? Hope Uncle Sam isn't holding his breath. The retailing giant paid zero dollars to the feds in 2017 and 2018 despite profits totaling nearly $17 billion, the Guardian reports. Seems Amazon relied on tax credits and tax breaks for executive stock options to turn its...

Tax Refunds Are Smaller, and People Are Ticked
Tax Refunds Are Smaller,
and People Are Ticked
in case you missed it
Feb 16, 2019 2:00 PM CST

Tax Refunds Are Smaller, and People Are Ticked

Average return is $1,865 under new tax code, down 8% from last year

(Newser) - The IRS is out with early numbers on tax refunds in 2019, and people hoping for a bump under the new tax changes are being unpleasantly surprised. In the first week of the filing season, the average refund was $1,865, down about 8% from last year's average of...

In Shutdown, a 'Wrench' in Getting Your Tax Refund?

IRS employees who process tax refunds are among first to be furloughed

(Newser) - The Internal Revenue Service may not be anyone's favorite government agency, but many taxpayers may be pulling for it to regain full staffing over the next few weeks. That's because tax refunds may be delayed this year, thanks to the partial government shutdown, USA Today reports. Per a...

Protests: 135 Hurt, 1K Detained
Protests: 135 Hurt, 1K Detained
Dec 8, 2018 1:11 PM CST

Protests: 135 Hurt, 1K Detained

French official says the violence is 'under control'

(Newser) - France's interior minister says the protest violence in Paris is "under control" despite scattered tensions but is calling it "totally unacceptable." Interior Minister Christophe Castaner says 135 people were injured in the protests Saturday, including 17 police officers, the AP reports. He says "exceptional" security...

France&#39;s Macron Miscalculated. Can He Survive?
Where France's
Emmanuel Macron Blew It
the rundown
Dec 7, 2018 1:11 PM CST

Where France's Emmanuel Macron Blew It

He miscalculated how the burden of his fuel tax would fall on people who could least afford it

(Newser) - Paris and other large cities in France are bracing for violence this weekend. "Yellow vest" protesters promise to be out in force, and police promise to be there to meet them. One potential sign of good news: Representatives of the protesters will meet with Prime Minister Edouard Philippe Friday...

France Said It Wouldn't Budge on Fuel Tax. It Just Did

Tax hikes have been suspended for several months after violent protests, per PM

(Newser) - French Prime Minister Edouard Philippe announced a suspension of fuel tax hikes Tuesday, a major U-turn in an effort to appease a protest movement that radicalized and plunged Paris into chaos last weekend, French media report. Both Le Monde newspaper and France Info radio said the planned increase, which has...

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