IRS Audit Rates Have Plunged Over the Last Decade, Especially for the Rich: GAO
Internal Revenue Service audit rates of individual income tax returns plunged over the last decade, with rates falling the most for taxpayers with...
Bezos vs. Biden on Inflation and Taxes
The White House jumped into an online battle with Jeff Bezos Monday after the Amazon founder criticized President Joe Biden for suggesting that more...
IRS Under Fire After Destroying 30 Million Tax Documents
The Internal Revenue Service, struggling to deal with a massive backlog of paper filings, decided to “destroy an estimated 30 million paper-filed...
Trump’s ‘Temporary’ Tax Rules May Stick Around
The Tax Cuts and Jobs Act signed into law by President Donald Trump in 2017 included a number of temporary and delayed provisions that helped limit...
Tax Revenues Surge, With Meme Stocks Providing a Boost
Tax collections in the current fiscal year are running at a record high so far — about 43% higher than during the same period in 2019, the last full...
TurboTax Maker Agrees to Pay $141 Million to Settle Claims of Deception
Intuit, the maker of TurboTax software, will pay $141 million in restitution to nearly 4.4 million customers who were unfairly charged for tax...
The Big Push to Restore R&D Tax Credits
The Republican tax overhaul signed into law by President Donald Trump in 2017 requires companies to spread their tax deductions for research and...
Dems’ Dilemma on Lowering Gas Prices
Some Democrats are pressing House Speaker Nancy Pelosi (D-CA) to reconsider her rejection of a gas-tax holiday, The Hill reports. “The grumbling is...
Pot Taxes Giving Some States a Revenue High
Taxes on the sale of marijuana are now producing more revenue than taxes on alcohol in the 11 states that legalized commerce in the drug, according to...
Tax Rates of America's Top Earners
Microsoft founder Bill Gates earned an average of $2.85 billion per year between 2013 and 2018, the most in the U.S. for any individual over that...