Taxes
  • Taxes

Budget Battles

  • A security camera hangs near a corner of the Internal Revenue Service (IRS) building in Washington

    Taxpayer Advocate: The IRS Needs More Funding

    By Michael Rainey

    National Taxpayer Advocate Erin Collins released her annual report to Congress Wednesday, and it came with a blunt message: Years of funding cuts have made it difficult for the nation’s tax and...

  • Democratic 2020 U.S. presidential candidate Senator Bernie Sanders speaks at the tenth Democratic 2020 presidential debate at the Gaillard Center in Charleston

    Democrats Plan a Major End Run Around the GOP

    By Michael Rainey

    You’ll probably be hearing a lot about “budget reconciliation” in the coming weeks, as Democrats work to pass a substantial spending package in the early days of the Biden administration. The term...

  • U.S. President-elect Biden speaks after meeting with transition coronavirus advisory board in Wilmington, Delaware

    Biden’s Agenda Gets a Boost With Democratic Control in Washington

    By Michael Rainey

    The Democratic sweep of the runoff Senate elections in Georgia may not have gotten as much coverage as the storming of the Capitol by a pro-Trump mob Wednesday, but the results will have a powerful...

  • Stores all over Las Cruces close down temporarily due to Coronavirus concerns.Sign 1

    Reviving the Pandemic Economy

    By Michael Rainey

    With the U.S. economy headed for another slowdown as the coronavirus surges to record levels, The New York Times gathered a group of experts “to debate the priorities for economic policy in the...

  • The setting sun reflects off of the twin towers of Time Warner Center in the Manhattan borough of New York City, November 22, 2015. REUTERS/Rickey Rogers

    State and Local Tax Revenues Better Than Expected

    By Michael Rainey

    Many economists worried that local tax revenues would fall sharply in the wake of the coronavirus pandemic, creating a long-lasting drag on the economy as payrolls shrank and public investment...

  • <p>Capital loss rules dictate that if you make a legitimate loan to someone with an official note, even if it’s your brother-in-law, you can write the money off if you don’t get paid back, up to $3,000 a year with a maximum of $10,000 total. Caveat: “If

    Most Americans Support Higher Tax on High Earners: Poll

    By Michael Rainey

    About two-thirds of Americans support President-elect Joe Biden’s proposal to raise taxes on households earning more than $400,000 a year while keeping taxes on those below that level the same,...

  • Some workaholics actually consider this the best day of the year (other than National Clean Off Your Desk Day). The holiday is celebrated annually; this year the day of festivities is March 23.

    A New Tax on Stay-at-Home Workers?

    By The Fiscal Times Staff

    A report funded by Deutsche Bank that examines the economic recovery from the pandemic suggests that people working at home should be taxed for the privilege of doing so, in order to pay for aid to...

  • A red traffic light stands in front of the U.S. Capitol building in Washington

    Election Results Signal Less Stimulus, More Gridlock

    By Michael Rainey

    Although the final numbers aren’t in yet, it looks like the 2020 election will deliver a divided Congress to whichever party claims the White House. Democratic hopes for a “blue wave” fell by the...

  • Democratic 2020 U.S. presidential candidate and former U.S. Vice President Joe Biden speaks during a meeting at Chickasaw Event Center in New Hampton, Iowa

    Joe Biden’s Economy Czar

    By Michael Rainey

    Joe Biden has a vast team of advisers working on plans to boost the economy in the event that the former vice president wins the presidential election. While some are big names who served in the...

  • White House economic adviser Larry Kudlow speaks during a meeting of the Economic Club of New York in New York

    No Pre-Election Details on Trump’s Promised Tax Cuts

    By Michael Rainey

    Add President Trump’s second term tax plan to the long list of items that he will release at some point in the future. White House economic adviser Larry Kudlow said Monday that while administration...

  • A worker looks over a glass window at Lippert Components in Goshen

    Trump’s Tax Cuts Didn’t Boost Job Numbers

    By Michael Rainey

    The job market was remarkably strong before the coronavirus pandemic hit earlier this year, with the unemployment rate falling to a 50-year low. Even so, President Trump’s promise to be the “greatest...

  • U.S. President Trump speaks to reporters during a news conference

    Trump’s $750 Tax Bill

    By Michael Rainey

    The analysis released Sunday evening by The New York Times of President Trump’s tax filings stretching back over more than two decades has caused quite a stir as we enter the final weeks of the...

  • Economy Would Do Better Under Biden Than Trump: Moody’s

    By Michael Rainey

    The economy is widely seen to be a relative strength for President Trump, with voters giving him much higher approval ratings for his handling of economic issues than other areas. But a new analysis...

  • Buildings are seen at the Yujiapu financial centre, in Tianjin, China February 22, 2016. REUTERS/Jason Lee/File Photo

    Massive Corporate Tax Holiday Could Cause Headaches Next Year

    By Michael Rainey

    Worried about getting stuck with unpaid tax bills in 2021, private employers have largely passed on President Trump’s voluntary program that allows companies to defer the Social Security portion of...

  • Democratic U.S. presidential candidate Joe Biden speaks about U.S. economy at a metal works plant in Dunmore, Pennsylvania

    Why Joe Biden Wants to Go Big on a Stimulus Package

    By Michael Rainey

    Some Democratic economic policy wonks have long believed they made a serious mistake during the Great Recession: The $787 billion stimulus package President Barack Obama signed into law in 2009 just...