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| Apr 11, 2025 | How the IRS layoffs could affect audits and refunds during tax filing season | Thousands of employees at the Internal Revenue Service have lost their jobs in recent months. That reduction in the workforce could affect the agency’s essential functions — from audits and collection enforcement to the processing of tax re... |
| Oct 18, 2023 | The IRS gave us a window into how much tech titans have dodged in taxes | The IRS may be cracking down on corporations moving profits around different countries to dodge taxes. Zach Gibson/Getty Images
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Microsoft recently revealed that the IRS said it owes nearly $29 billion in back taxes.
It's a glimps... |
| Mar 26, 2023 | How Government Aid Focuses On The Wealthy First, The Poor Last | A sign announces newly built homes at a development in Sudbury, Ma., on Sunday, March 12, 2023. On ... [+] Thursday, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/Peter Morgan)Copyright 2022 The Associated Press.... |
| Mar 7, 2023 | Biden's plan for fixing Medicare: Raise taxes on Americans earning over $400,000 | President Joe Biden said he has a plan to shore up the finances of Medicare, the health insurance plan for America's seniors: Raise the Medicare tax on people earning more than $400,000 to 5% from its current 3.8%.
Biden, writing in a Tuesd... |
| Nov 17, 2022 | The middle class is getting left behind as low earners win higher wages and the richest see their wealth grow | Middle-class Americans are losing access to real estate as their most reliable source for wealth building. The Good Brigade/Getty Images
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In recent years, wealthy Americans got wealthier and low-wage workers bargained for higher p... |
| Sep 28, 2022 | America is a new tax haven for the ultra-wealthy — and 13 states are holding billions in hidden assets | Motorists ride on U.S. Interstate 90 near Sturgis, South Dakota. Reuters/Jonathan Ernst
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Right now, billions of dollars of assets are held in secretive trusts across the country.
13 states are "trust-subservient," accord... |
| Aug 21, 2022 | Editorials
Editorials | Editorial: Bulked-up IRS can make everyone pay their fair share | On Tuesday, President Joe Biden signed the Inflation Reduction Act into law. A sweeping omnibus bill, the IRA, as it is called, aims to do way more than its name lets on.
In addition to targeting inflation, the bill will attempt to fight cl... |
| Mar 6, 2022 | Make more than $100,000? Your IRS audit risk just doubled. | The Internal Revenue Service is auditing tax returns for the highest-earning taxpayers much more aggressively than it has in the past decade, the agency said in a recent report.
For years, the rate at which the IRS audits the highest earner... |
| Jan 23, 2022 | How hustle culture got America addicted to work | This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
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For most of human history, leisure has been a luxury reserved for the ultrarich. The more money you had, the more you could kick... |
| Nov 27, 2021 | There’s an easy way to tax billionaires that would actually work | Elon Musk recently sold some of his Tesla shares after discussing wealth taxation on Twitter. Picture Alliance/Getty Images
The ultra-wealthy avoid paying taxes by using stock as collateral for loans and deferring the sale of assets.
Fair a... |
| May 23, 2021 | Joe Biden wants to tax the wealthy without creating a wealth tax, even though it’s overwhelmingly popular | President Joe Biden. REUTERS/Mike Segar/File Photo
As infrastructure talks begin to heat up, taxes – and how much they’ll go up – will be a hot topic.
Yes, Biden wants to raise taxes on the wealthy, but he doesn’t want to do an outright wea... |
| May 1, 2021 | America’s wealthiest added $195 billion to their fortunes in Biden’s first 100 days | President Joe Biden. Andrew Harnik/AP Photo
Since Biden’s presidency started, the richest 100 Americans saw their fortunes grow by $195 billion.
An analysis from Bloomberg tracked the gains and attribute them to a strong market, stimulus, a... |
| Apr 26, 2021 | White House says its capital-gains tax hike will hit only those earning above $1 million to fund childcare and education | Brian Deese, now the National Economic Council director, pictured in 2012. AP Photo/Carolyn Kaster, File
Only people making over $1 million would see their capital-gains tax increase, the White House said.
Brian Deese, the National Economic... |
| Apr 22, 2021 | Biden wants to raise taxes on rich investors to pay for expanded childcare and education, new report says | President Joe Biden speaking at the White House. MANDEL NGAN/AFP via Getty Images
In the next part of his infrastructure package, Biden is looking to raise taxes on the wealthy.
He’ll reportedly increase the income-tax rate for top earners ... |
| Apr 21, 2021 | Bypassing The Byrd Rule To Raise The Minimum Wage Might Mean New Taxes | Dramatic sunset over the US capitol in Washington DCgetty |
| Apr 13, 2021 | The IRS chief says $1 trillion in taxes could be going uncollected every year – or more | Charles Rettig. Aaron P. Bernstein/Getty Images
In a Senate Finance Committee hearing, IRS Commissioner Charles Rettig addressed the tax gap.
That’s the gap between how much is owed in taxes and what’s actually collected.
Rettig said the ga... |
| Mar 25, 2021 | Bernie Sanders is targeting the wealthy and corporations with 2 new tax measures | Senate Budget Committee Chairman Sen. Bernie Sanders, I-Vt., speaks during a hearing on Capitol Hill in Washington, Thursday, Feb. 25, 2021, examining wages at large profitable corporations. AP Photo/Susan Walsh, Pool
At a Senate Budget Com... |
| Mar 23, 2021 | America’s wealthiest earners appear to be hiding billions of dollars from the IRS, study finds | Tourists party on a yacht in Dubai Creek on February 4, 2021. KARIM SAHIB/AFP via Getty Images
The top 1% of US earners aren’t reporting about a fifth of their income, new research shows.
Under-reporting is even higher among the top 0.1%, t... |
| Mar 23, 2021 | America's wealthiest earners appear to be hiding billions of dollars from the IRS, study finds | The top 1% of US earners aren't reporting about a fifth of their income, new research shows.
Under-reporting is even higher among the top 0.1%, the paper found.
Offshore accounts and pass-through businesses are used to avoid taxes.
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| Mar 23, 2021 | America's wealthiest earners appear to be hiding billions of dollars from the IRS, study finds | Tourists party on a yacht in Dubai Creek on February 4, 2021. KARIM SAHIB/AFP via Getty Images
The top 1% of US earners aren't reporting about a fifth of their income, new research shows.
Under-reporting is even higher among the top 0.1%, t... |
| Mar 22, 2021 | Biden is reportedly getting even more serious about taxing the wealthy | President Joe Biden. White House/Lawrence Jackson
Bloomberg reported that Biden was getting more serious about some taxes targeting the rich.
Economic disparity has grown throughout the pandemic.
Capital gains, larger corporations, and high... |
| Oct 28, 2020 | Advancing Beneficial Ownership Transparency in the United States | The anonymous corporate ownership of shell companies crosses the boundaries of countries and of industries. Some implications are visible to the naked eye: Across the world, luxury buildings stand empty in high-demand cities. Others are ins... |
| Sep 21, 2020 | Economist Challenges Assumptions Of Wealth Tax Advocates | Senator Elizabeth Warren, a Democrat from Massachusetts and 2020 presidential candidate, walks on ... [+] stage during a campaign event at Iowa State University in Ames, Iowa, U.S., on Monday, Oct. 21, 2019. Warren unveiled an $800 billion ... |
| Sep 17, 2019 | Wealth Tax - Constitutional Probably - Good Idea Not So Much | Calvin Johnson's recent paper A Wealth Tax is Constitutional, 38 ABA Tax Times No. 4 is timely as my senator, Elizabeth Warren's proposal for a wealth tax of 2% on fortunes over $50 million and 3% on fortunes over $1 billion is attracting a... |
| Jun 1, 2017 | Column:: Study points to another advantage of the 1%: They’re great at evading taxes | In his story “The Snows of Kilimanjaro,” Ernest Hemingway wrote a snappy retort to F. Scott Fitzgerald’s line about how “the very rich are different from you and me.” Yes, Hemingway’s character replies, “they have more money.”
Economist Gab... |
| Leon Cooperman calls Warren’s wealth tax ‘foolish,’ says people would hide money to avoid it | “If the wealth tax passes, go out and buy yourself some gold because people are going to rush to find ways of hiding their wealth,” Leon Cooperman told CNBC.
The billionaire investor Wednesday also argued that there are better mechanisms to... |
| There's an easy way to tax billionaires that would actually work | Elon Musk recently sold some of his Tesla shares after discussing wealth taxation on Twitter. Picture Alliance/Getty Images This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
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