Federal Taxes (US)
Here Are the Key Numbers From Trump’s Tax Returns
New figures in a report by the House Ways and Means Committee showed that Donald J. Trump paid $1.1 million in federal income taxes in his first three years as president, and that he paid no taxes in 2020 as his income began to dwindle. Year Adjusted Gross Income Tax based onincome and A.M.T. Tax […]
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Sinema Agrees to Climate and Tax Deal, Clearing the Way for Votes
WASHINGTON — Senator Kyrsten Sinema, Democrat of Arizona, announced on Thursday evening that she would support moving forward with her party’s climate, tax and health care package, clearing the way for a major piece of President Biden’s domestic agenda to move through the Senate in the coming days. To win Ms. Sinema’s support, Democratic leaders […]
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How Joe Manchin Left a Global Tax Deal in Limbo
WASHINGTON — In June, months after reluctantly signing on to a global tax agreement brokered by the United States, Ireland’s finance minister met privately with Treasury Secretary Janet L. Yellen, seeking reassurances that the Biden administration would hold up its end of the deal. Ms. Yellen assured the minister, Paschal Donohoe, that the administration would […]
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Manchin Pulls Plug on Climate and Tax Talks, Shrinking Domestic Plan
WASHINGTON — Senator Joe Manchin III, Democrat of West Virginia, pulled the plug on Thursday on negotiations to salvage key pieces of President Biden’s agenda, informing his party’s leaders that he would not support funding for climate or energy programs or raising taxes on wealthy Americans and corporations. The decision by Mr. Manchin, a conservative-leaning […]
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Here’s How Democrats’ Big Domestic Agenda Bill Has Shrunk
WASHINGTON — Call it the incredible shrinking domestic policy initiative. As Democrats toil to salvage pieces of President Biden’s sweeping social policy, climate change and tax package this summer, their negotiations have highlighted how substantially they have had to curb their ambitions in bowing to political reality and economic shifts. What was once a transformational […]
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Democrats Propose Raising Taxes on Some High Earners to Bolster Medicare
WASHINGTON — Senate Democrats will push to raise taxes on some high-earning Americans and steer the money to improving the solvency of Medicare, according to officials briefed on the plan, as they cobble together a modest version of President Biden’s stalled tax and spending package. The proposal is projected to raise $203 billion over a […]
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I.R.S. Asks Inspector General to Review Audits of Comey and McCabe
The I.R.S. said on Thursday that it had asked the inspector general who oversees tax matters to investigate how James B. Comey, the former F.B.I. director, and his deputy, Andrew G. McCabe — both perceived enemies of former President Donald J. Trump — came to be faced with rare, exhaustive audits that the agency says […]
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Comey and McCabe, Who Infuriated Trump, Both Faced Intensive I.R.S. Audits
Among tax lawyers, the most invasive type of random audit carried out by the I.R.S. is known, only partly jokingly, as “an autopsy without the benefit of death.” The odds of being selected for that audit in any given year are tiny — out of nearly 153 million individual returns filed for 2017, for example, […]
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76 Fake Charities Shared a Mailbox. The I.R.S. Kept Approving More.
The “American Cancer Society of Michigan,” state authorities say, was a fake charity. And not even a good fake. It was not in Michigan, for one thing. When the group applied to the Internal Revenue Service to become a tax-exempt nonprofit in 2020, it listed its address as a rented mailbox on Staten Island. It […]
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