Taxes
  • IRS Recovers $520 Million in Unpaid Taxes From Millionaires

    By Michael Rainey

    A crackdown on cheating by high-income households and complex businesses is paying off, the IRS said Friday as it announced that it has now recovered more than $520 million from 1,600 millionaires...

  • Taxpayer Advocate Says IRS Improvements Still Not Good Enough

    By Michael Rainey

    The IRS has made enormous strides in recovering from pandemic-era challenges, says Erin M. Collins, the national taxpayer advocate. But her new annual report makes it clear that the IRS still has a...

  • During WWII, the DOD provided funding to firms like Fairchild Semiconductor and Texas Instruments to <a href="http://money.cnn.com/galleries/2011/technology/1110/gallery.government_inventions/2.html" target="_blank">build a tiny device</a> that could help

    First CHIPS Act Grant Goes to Major Defense Contractor

    By Michael Rainey

    The Biden administration announced Monday that the first federal grant intended to boost U.S. semiconductor manufacturing is going to an American subsidy of BAE Systems, a multi-billion-dollar...

  • Is the Tax System Broken?

    By Michael Rainey

    Historically, tax revenues have increased significantly during economic booms as unemployment falls and then declined during slowdowns as unemployment rises, but according to Bobby Kogan, senior...

  • Oct 18, 2023; Washington, DC, USA; Rep. Jim Jordan, R-Ohio is seen on the House floor as lawmakers hold a second vote to elect a

    Jordan Loses Second Speaker Vote, Says He'll Keep Going

    Jim Jordan suffered a second defeat Wednesday in his bid to win the speaker’s gavel — a campaign that now appears doomed to fail even as the firebrand Ohio Republican insists he wants to keep going...