Taxes
  • FILE PHOTO: Yellen holds a news conference in Washington

    Time Is Running Out, Yellen Warns

    By Michael Rainey

    Treasury Secretary Janet Yellen on Tuesday called on lawmakers to raise the debt ceiling as quickly as possible, while warning that there would be “widespread suffering” if Congress fails to act. “...

  • Trump speaks with Mexican President Enrique Pena Nieto about NAFTA  at the White House in Washington

    Extending the 2017 Tax Cuts Would Cost $3.5 Trillion: CBO

    By Michael Rainey

    House Republicans are pushing for spending cuts to reduce the deficit in exchange for raising the debt ceiling, but they also hope to extend the package of GOP tax cuts passed under then-President...

  • U.S. 1040 Individual Income Tax forms are seen in New York

    IRS Plans to Test Free Filing System

    By Michael Rainey

    The IRS has developed a system that would allow Americans to file their taxes for free online and plans to start testing the system on a small number of people early next year, Jacob Bogage of The...

  • Why US Tax Revenues Have Been Smaller Than Expected

    By Michael Rainey

    As the Treasury Department warned last week, the drop-dead date for raising the debt limit could arrive as soon as June 1, earlier than most analysts had expected just a few weeks ago. The main...

  • Weak Tax Revenues Could Speed Up the Debt Ceiling Deadline

    By Michael Rainey

    The exact date on which the U.S. will run out of cash to pay its bills is a moving target, with much depending on how robust tax revenues are this month. With the Treasury Department already taking...