Topic
taxes
46 stories related to this topic, newest first.
abcnews.go.combusiness3 days ago
Manhattan Led U.S. in New Tax Filers but Lost $922 Million in Income
IRS data showed Manhattan gained the most new tax filers of any U.S. county between 2022 and 2023 while losing $922 million in adjusted gross income. Several other New York counties recorded large net outflows of filers during the same period.
biggerpockets.combusiness4 days ago
IRS Extends Deadline for COVID Refund Claims to July 10
A federal court ruling extended the IRS filing deadline to July 10, 2023, giving affected taxpayers until July 10, 2026, to seek refunds. The National Taxpayer Advocate said most must file a protective claim to preserve rights.
forbes.combusiness5 days ago
IRS to Replace First Time Abate Program with Automatic Penalty Relief for Compliant Taxpayers
The agency will replace its First Time Abate program with Automatic Exemption from Penalty, or AEP. The change applies to eligible 2025 individual and business returns filed this year and to 2026 quarterly returns.
forbes.combusiness8 days ago
Bernard Arnault and Wife Ordered to Pay €22.5 Million in Additional Taxes
A Paris court ruled that LVMH chief executive Bernard Arnault and his wife owe nearly €22.5 million in back taxes and related charges for 2010 and 2012-2015. The decision was published July 2 and will be appealed.
The Japan Timesbusiness10 days ago
Japan Records Record Battery Fires Alongside Record Tax Revenues in Fiscal 2025
The Environment Ministry reported 36,760 lithium-ion battery incidents, up sharply from the prior year. The Finance Ministry separately said tax revenues reached a sixth straight record at ¥84.22 trillion.
usatoday.compolitics10 days ago
One Year After Trump Signs Tax Bill, Effects on Households and Programs Emerge
The One Big Beautiful Bill Act extended 2017 tax cuts and added new deductions while imposing work requirements on SNAP and ending EV incentives. Impacts on high-income households, corporations, seniors and federal aid recipients are now measurable.
nbcnews.compolitics11 days ago
President Trump's Financial Disclosure Prompts Questions on Taxes and Ethics
The release of President Trump's financial disclosure has drawn attention to his tax payments and possible conflicts of interest. CBS News reported that the document leaves several details about his income and liabilities unclear.
thehindu.compolitics11 days ago
German Coalition Cuts Income Taxes but Tightens Labor Rules and Raises Retirement Age
Germany's ruling coalition approved a package of tax, labor and pension changes on July 2. The measures include 10 billion euros in income tax cuts financed by higher rates on top earners.
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rediff.combusiness16 days ago
July 10, 2026 Deadline Set for Protective Claims on COVID Tax Refunds Under Appeal
Usa Today reported that July 10, 2026 is the final date for taxpayers to file protective claims with the IRS for potential refunds tied to a federal court ruling on suspended filing deadlines during the COVID-19 disaster period. The government is appealing the decision.
nationalpost.compolitics17 days agoUpdated
California Governor Proposes Tax on Billionaires' Unrealized Gains
California Gov. Gavin Newsom on Friday called for a national tax on billionaires, framing it as the first step in an economic reset agenda. The proposal comes weeks before voters decide on a state-level billionaires tax and as Newsom weighs a presidential run.
Nbc Newspolitics17 days agoUpdated
California Gov. Newsom proposes federal billionaire tax and AI equity fund, declines to support state ballot measure
Newsom outlined the federal measures in a Substack post and video on Friday. He also opposed a separate California ballot initiative that would impose a one-time 5% tax on billionaires.
Newsweekworld18 days agoUpdated
King Charles III Paid More Than £30 Million in Taxes Since 2022 as Monarchy Receives £132 Million Public Grant
King Charles III has paid more than £30 million in personal income taxes since ascending the throne in September 2022. The disclosure marks the first time a reigning British monarch has released such details publicly.
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foxbusiness.combusiness21 days ago
Coca-Cola Appeals IRS Transfer-Pricing Ruling That Could Add $14 Billion to Its $6 Billion Payment
Coca-Cola and the IRS will begin oral arguments Thursday in the US Court of Appeals for the Eleventh Circuit over a potential $20 billion tax bill tied to overseas profits. The Atlanta-based company paid $6 billion last year while pursuing the appeal.
nypost.combusiness22 days ago
King Charles III to Release Personal Tax Records Next Week
The 77-year-old monarch will publish his 2024-25 tax information on Thursday, the first such disclosure by a reigning British monarch. The records will cover income from the Sovereign Grant, the Duchy of Lancaster, and private estates.
westernjournal.comfinance24 days ago
Comedian Carlos Mencia Arrested on State Tax Evasion Charges
Stand-up comic Carlos Mencia was arrested Thursday in Los Angeles and charged with failing to file or pay state taxes on more than $8 million in earnings from 2019 through 2024.
Nbc Newsworld25 days ago
Comedian Carlos Mencia Charged With 12 Felony Tax Counts in California
Carlos Mencia was arrested Thursday at his Encino home and charged with 12 felony counts of failing to file personal and corporate tax returns. Prosecutors allege he did not report $8.7 million in income from 2019 through 2024.
moneycrashers.comfinance27 days ago
Roth Conversion Adds $40,000 to Taxable Income but Moves Funds into Tax-Free Account
An individual converted roughly $40,000 in pre-tax retirement funds into a Roth IRA in a single transaction. The move triggered an unexpected tax obligation during 2024 filings completed in 2026.
sabcnews.comfinance30 days ago
Oil Prices Fall After Trump Cancels Iran Strikes as Six States Raise Fuel Taxes
Brent crude traded near $88–$89 and WTI near $85–$87 after President Trump said a peace deal with Iran was close. Drivers in six states face new or inflation-linked fuel taxes starting July 1.
nationalreview.comworld31 days ago
Georgia Governor Candidate's Film Company Faces IRS Tax Questions
A billionaire running for Georgia governor produced low-budget movies that generated large tax benefits. The IRS has examined whether those benefits were properly claimed.
calgaryherald.comworld33 days ago
California man sentenced to 27 months for illegal gambling and tax evasion
A California man received a 27-month federal prison sentence after pleading guilty to operating an illegal gambling business, laundering cash proceeds, and evading taxes on roughly $4.2 million in income. The Justice Department announced the sentence on June 10, 2026.
onemileatatime.combusiness36 days ago
British Airways CEO Criticises High UK Aviation Taxes and Calls for Lower Costs to Boost Tourism
Sean Doyle told reporters at the IATA meeting in Rio that the 15% April increase in air passenger duty and fragmented rail options are pricing out visitors and concentrating tourism in London and Edinburgh.
Washington Examinerpolitics39 days ago
Bessent Testifies Amid Rising Inflation to 3.8%, Plunging Consumer Sentiment, IRS Trump Immunity Deal, and Democratic Corruption Accusations
Bessent appeared before the Senate Finance Committee on Wednesday and the House Ways and Means Committee on Thursday, his first testimony since the One Big Beautiful Bill Act passed in July 2025.
Washington Examinerpolitics44 days ago
Trump Touts Tax Cuts and New Child Savings Accounts at Cabinet Meeting Amid Poor Polling on Cost of Living
President Trump met with his Cabinet this week and pointed to the One Big Beautiful Bill Act as the largest tax cuts in American history. The administration is promoting several new policies aimed at lowering costs for families.
forbes.comfinance51 days ago
Forbes Publishes Guide on Post-Death Tax and Estate Tasks
Forbes released a practical guide on May 23, 2026, covering state estate and inheritance taxes, inherited retirement accounts, and handling personal property and records after a death. The article draws on the author's experience and outlines steps to reduce administrative burden…
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Substrate placeholder — needs reviewpolitics51 days ago
NYC Mayor Meets JPMorgan Chase CEO
New York City Mayor Zohran Mamdani met with JPMorgan Chase CEO Jamie Dimon on Monday. Columnist Joe Concha said the mayor's tax policies are prompting some businesses to consider relocating outside the city.
forbes.comfinance51 days ago
Tax Rules Address Estate Filings, Foreign Gifts, and Car Loan Interest
A newsletter outlines filing requirements after death, penalties for unreported foreign gifts, and limits on a new car loan interest deduction. The U.S. Tax Court is described as a venue for resolving IRS disputes before payment.
techjuice.pkworld51 days ago
Final Tax Return Required After Death for Income and Retirement Accounts
Executors must file a final Form 1040 if the decedent would have owed taxes. Additional returns and IRS obligations can continue after death.
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forbes.comfinance51 days ago
Forbes Publishes Guide on Post-Death Tax and Administrative Tasks
Forbes senior writer Kelly Phillips Erb released a practical guide on May 23, 2026, covering state estate and inheritance taxes, inherited retirement accounts, and handling personal records after a death. The article draws from the author's experience following her father's death…
thesouthafrican.comworld53 days ago
Guide Details How Long to Keep Tax Records and Financial Documents
The article outlines IRS rules for retaining tax returns, supporting documents, and records related to inherited property. It covers statute of limitations periods and special considerations after a death.
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dailycaller.comworld53 days ago
Bill Introduced to Eliminate Taxes on Certain Firearms
A bill was introduced to remove taxes on machine guns and destructive devices under the National Firearms Act. The measure could be included in a future reconciliation bill.
New York Postpolitics53 days ago
JPMorgan Chase CEO comments on New York City mayor's tax proposals
JPMorgan Chase CEO Jamie Dimon said he will judge the mayor by results rather than statements. He also expressed support for changes to the U.S. tax system that would reduce taxes for lower earners.
nbcnews.compolitics53 days ago
Trump Surgeon General Pick Reports Farm Income on New Jersey Tax Return
President Trump's nominee for surgeon general lists income from a New Jersey farm on state tax filings while working as a radiologist. The filing uses a state tax provision available to qualifying agricultural operations.
thoughtcatalog.compolitics54 days ago
New York City Mayor Responds to Jeff Bezos Tax Comments
Mayor Zohran Kwame Mamdani posted a reply to a video clip of Jeff Bezos discussing federal taxes. The exchange centers on whether higher taxes on wealthy individuals would affect public services in New York City.
pbs.orgpolitics54 days agoUpdated
U.S. Government Drops Tax Claims Against President Trump in IRS Settlement
The U.S. government agreed to drop tax claims and audits against President Trump as part of a settlement in his lawsuit against the IRS. Acting Attorney General Todd Blanche signed an order expanding the agreement and establishing a nearly $1.8 billion fund.
reason.compolitics56 days ago
Federal Gas Tax Holiday Would Save Average Driver Less Than $9 Per Month
President Trump has proposed suspending the federal gasoline excise tax for three months. An analysis by the Peter G. Peterson Foundation estimates the average driver would save less than $9 per month under the plan.
msnbc.compolitics56 days ago
Congressional Proposal Seeks $100 Billion for IRS Enforcement
A congressional proposal would allocate $100 billion to the IRS for enforcement activities. The measure targets taxpayers with net worth above $50 million and would tax unrealized gains on assets.
manilatimes.networld56 days ago
Philippine Revenue Agency Clarifies Rules for Cash Donation Taxes
The Bureau of Internal Revenue issued a circular detailing filing procedures and documentation for donor's tax on cash donations. The guidance also addresses deductibility and electronic registration requirements.
rte.ieworld57 days ago
Taxes Can Reduce Retirement Savings Growth
Taxes on withdrawals and required distributions can lower the amount retirees keep from their accounts. Planning steps can help limit the impact of those taxes.
finance57 days ago
Real Estate Professional Status Allows Rental Losses to Offset Active Income
Some high-income taxpayers use real estate professional status to treat rental losses as non-passive. The designation requires meeting IRS time thresholds and documentation standards.
Usa Todaybusiness57 days ago
IRS Sets Deadline for Businesses Seeking COVID Employee Retention Credit Refunds
Businesses have a two-year window to challenge IRS rejections of employee retention credit claims. The IRS offers a streamlined extension process for some rejected claims.
abcnews.go.comworld59 days ago
Millions of Americans Eligible for Billions in Covid-Era Tax Refunds
The IRS has set a July 10 deadline for taxpayers to file claims for refunds of interest and penalties accrued during the Covid-19 pandemic. Millions of Americans could be owed a total of billions of dollars. Filing a claim by the deadline is required to receive any owed amounts.
nypost.compolitics63 days ago
IRS Inspector General Finds 9% of Federal Workers Delinquent on Taxes in 2024
The IRS inspector general released a report on May 11, 2026, showing 215000 federal employees owed $2.1 billion while current and former workers totaled 571000 delinquents owing $6.3 billion, a 43 percent increase in three years. The U.S. Postal Service recorded the highest rate…
Fox Newsworld69 days ago
Citadel to Expand Miami Office Instead of Manhattan
Ken Griffin on Tuesday criticized a video by New York City Mayor Zohran Mamdani filmed outside his Central Park South penthouse. He said Citadel would double down on growth in Miami instead of Manhattan amid a proposed pied-à-terre tax.
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tvinsider.comworld70 days ago
Hayley Mills Says She Lost Disney Earnings to High Taxes in Podcast Interview
Actress Hayley Mills stated on a podcast that she lost most of her earnings from Disney films to taxes due to a trust fund setup. She described the events surrounding her 21st birthday when she received a tax bill instead of her funds. The discussion occurred during an appearance…
(Official White House Photo by Shealah Craighead) / Wikimedia (Public domain)politics73 days ago
Trump Speaks on Tax Reforms and Senior Policies in Florida
President Trump spoke to seniors at The Villages in Florida, emphasizing his administration's tax cuts and benefits for older Americans. He highlighted policies like no taxes on Social Security and reduced prescription drug costs. The speech included crowd interaction and critici…
Substrate placeholder — needs reviewbusiness96 days ago
Common Tax Misconceptions for Young Taxpayers Ahead of April 15 Deadline
Young taxpayers face various online resources for filing taxes as the April 15 deadline approaches. Experts highlight misinformation on deductions for creators, AI use, filing requirements, and new tax rules. Accurate filing can help secure refunds and credits available under cur…