• IRS Audits Hit the Working Poor, African Americans Harder

    By Michael Rainey

    Where does the IRS focus its audits in the U.S.? According to a new study by Kim M. Bloomquist, a former senior economist at the tax agency, the most heavily audited county is not, as you might...

  • Senator Ron Wyden (D-OR) speaks with Reuters during an interview in Washington

    Sen. Ron Wyden Proposes Annual Capital Gains Tax

    By Michael Rainey

    Sen. Ron Wyden of Oregon, the top Democrat on the Senate Finance Committee, wants to change the way capital gains are taxed by imposing an annual levy on investments. How it would work: While Wyden...

  • Cracking Down on Tax Cheats: An Easy Fiscal Fix?

    By Michael Rainey

    With the federal budget deficit expected to rise to nearly $900 billion this year before crossing the $1 trillion mark in 2022, lawmakers and policy wonks have been looking for ways to generate more...

  • Workers stand on the roof of an elevator at the construction site of a new financial district in Beijing

    GDP Growth Revised Down to 2.2% in Q4

    The U.S. economy grew at slower rate than initially estimated over the final three months of 2018, the Commerce Department said Thursday. Gross domestic product rose at a 2.2 percent annualized rate...

  • Embattled IRS staff remain in jobs despite U.S. tax review scandal

    Lawmakers Introduce a Bipartisan Bill to Fix the IRS

    By The Fiscal Times Staff

    A bipartisan group of lawmakers on Thursday offered legislation aimed at improving the Internal Revenue Service. The Taxpayer First Act of 2019, which lawmakers say is the result of years of work by...