Taxes
  • U.S. President Trump departs for travel to Louisiana from the White House in Washington

    Trump’s ‘Four Pinocchio’ Tax Claim

    President Trump routinely lies or makes exaggerated, unsupported and misleading claims. The Washington Post’s most recent tally of such statements topped more than 15,400 over Trump’s first 1,055...

  • 2020 Democratic U.S. presidential candidate and U.S. Senator Bernie Sanders speaks during a campaign event in West Branch, Iowa

    How the GOP Will Attack Bernie Sanders' Wealth Tax

    By Michael Rainey

    We highlighted yesterday a defense of wealth taxes from Gabriel Zucman, a liberal economist who has advised both Elizabeth Warren and Bernie Sanders on their tax proposals. On Friday, a pair of...

  • The U.S. Capitol Building is shown at sunset in Washington

    Is a Wealth Tax a ‘Very American Idea’?

    By Michael Rainey

    The wealth tax proposed by Democratic presidential candidates Elizabeth Warren and Bernie Sanders has broad support among the American public. A Hill-HarrisX survey last year found that 74% of...

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

    Why the IRS Is Struggling to Do Its Job

    By Michael Rainey

    The IRS doesn’t have enough funding or personnel to do its job properly, according to the 2019 annual report from the Taxpayer Advocate Service, an independent organization within the Internal...

  • IRS, activist lawyers to clash in court over tax preparer rules

    Good News for Tax Cheats: IRS Audit Rate Drops to Lowest in More Than 40 Years

    By Michael Rainey

    The annual IRS report we told you about yesterday revealed that the agency audited just 0.45% of individual tax returns in 2019. That marks the eighth year in a row the audit rate has dropped, says...

  • FILE PHOTO: House Minority Leader Nancy Pelosi speaks during a rally against the Republican tax bill on Capitol Hill in Washington, U.S., November 15, 2017. REUTERS/Aaron P. Bernstein

    Democrats Prepare to Direct Fire at the GOP Tax Bill

    By Michael Rainey

    Democrats take control of the House on January 3 and are already planning their attack on the year-old Republican tax bill. Rep. Richard Neal (D-MA), incoming chair of the tax-writing House Ways and...

  • Tax Bill Creates a Divorce Rush

    By The Fiscal Times Staff

    Divorce lawyers are keeping plenty busy as the year winds down, thanks in part to the Republican tax bill. The Hill’s Naomi Jagoda explains: “The 2017 GOP tax overhaul eliminates the deduction for...

  • U.S. President Trump meets with Schumer and Pelosi at the White House in Washington

    Trump and Lawmakers Dig In for a Shutdown

    By Michael Rainey

    Neither side in the battle over President Trump’s border wall appears to be budging, raising the odds of a partial government shutdown come Friday night. “Spending discussions have stalled, with no...

  • FILE PHOTO: A sign on an insurance store advertises Obamacare in San Ysidro

    3 Key Questions About the Obamacare Court Ruling

    The fate of Obamacare may once again wind up before the Supreme Court now that a federal judge in Texas has ruled that the law is unconstitutional. U.S. District Court Judge Reed O'Connor ruled on...

  • District of Columbia

    CBO Offers 121 Ways to Shrink the Deficit

    By The Fiscal Times Staff

    The Congressional Budget Office has released a 326-page guide that describes dozens of ways the federal government could reduce its large and growing budget deficit. The 121 policy options included...