Government taxation and revenue
State tax officials are using AI to go after wealthy payers
Photo Of Robot Examining Invoice With Magnifying Glass. Andreypopov | Istock | Getty Images Even as the IRS makes headlines for cracking down on the wealthy, state tax collectors have become even more aggressive with audits of high earners, according to tax attorneys and accountants. In New York, the tax department reported 771,000 audits in […]
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90% of qualifying electric powered automobile purchasers choose for $7,500 ‘new clean vehicle’ tax credit score as upfront payment, Treasury says
Vital Details The Inflation Reduction Act turned a $7,500 tax credit score for new electric autos into an upfront discounted for potential buyers via an advance payment of their tax break. About 90% of qualifying shoppers getting a new EV have opted to get their tax crack as an progress payment, a Treasury Section formal […]
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Trump can't safe $454 million attraction bond in New York fraud situation, his lawyers say
Previous U.S. President Donald Trump holds up a news story about New York Attorney Normal Letitia James as he speaks to the media at just one of his qualities at 40 Wall Avenue pursuing closing arguments at his civil fraud demo on January 11, 2024 in New York Metropolis. Spencer Platt | Getty Images Donald […]
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Biden’s ɻillionaire tax' will take intention at the tremendous-wealthy — but can a wealth tax function in fact?
Phone calls for a wealth tax on the world’s super-prosperous are the moment once more getting focus after U.S. President Joe Biden reported he would impose a new “billionaire tax” on the country’s wealthiest if re-elected in November. Outlining his 2025 funds proposals on Monday, Biden took purpose at the uber affluent and reiterated programs […]
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The increase of the Robin Hood tax
The so-termed prosperity tax is a politically divisive economic coverage, but 1 that is regaining traction amid growing inequality and shifting demographics. U.S. President Joe Biden in his 2024 Point out of the Union address became the newest to suggest these types of strategies, calling for a “billionaire tax” on the country’s tremendous-wealthy. But can […]
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Indonesia's following president Prabowo made massive promises on the marketing campaign trail. Can he produce?
Prabowo Subianto, Indonesia’s presidential applicant and defense minister, middle, waves to supporters in Jakarta, Indonesia, on Wednesday, Feb. 14, 2024. Prabowo declared victory in Wednesday’s presidential vote, citing unbiased pollsters, putting him on system to direct Southeast Asia’s most significant economy soon after two unsuccessful attempts. Bloomberg | Bloomberg | Getty Photos JAKARTA — Indonesia’s […]
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Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief
The nation’s millionaires and billionaires are evading more than $150 billion a year in taxes, adding to growing government deficits and creating a “lack of fairness” in the tax system, according to the head of the Internal Revenue Service. The IRS, with billion of dollars in new funding from Congress, has launched a sweeping crackdown […]
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Trump fined much more than $350 million in New York enterprise fraud situation
Former U.S. President Donald Trump walks outside the courtroom on the day of a courtroom listening to on rates of falsifying small business documents to go over up a hush funds payment to a porn star right before the 2016 election, in New York Point out Supreme Court in the Manhattan borough of New York […]
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Jeff Bezos will save over $600 million in taxes by moving to Miami
Jeff Bezos and Lauren Sanchez walk in the Paddock prior to final practice ahead of the F1 Grand Prix of Miami at Miami International Autodrome on May 06, 2023 in Miami, Florida. Clive Mason | Formula 1 | Getty Images Jeff Bezos’ $2 billion stock sale last week came with an added perk: no state […]
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States have been eliminating taxes on period products for years. Here’s where you'll still pay them.
Packages of Tampax brand tampons on a drugstore shelf in New York on Wednesday, February 10, 2016. Richard Levine | Corbis News | Getty Images Over a lifetime, period products in the U.S. cost a total of around $6,000 per person, according to research published in 2021 — and that’s before tax. In 21 states, a sales tax […]
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