Government taxation and revenue
The IRS has a method of ‘last resort’ to collect overdue taxes: Revoking your passport
Grace Cary | Moment | Getty Images Travelers, be warned: The federal government may revoke your passport if you ignore a big tax bill. Such punishments have become more frequent in recent years, experts said. Federal law requires the IRS and Treasury Department to notify the State Department if an American has a “seriously delinquent […]
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Inside the tax battles Tim Walz fought — and won — in Minnesota
U.S. Vice President and Democratic presidential candidate Kamala Harris and her running mate Minnesota Governor Tim Walz walk as they prepare to depart at Chippewa Airport in Eau Claire, Wisconsin, U.S., August 7, 2024. Kevin Mohatt | Reuters Six years before Tim Walz was tapped to be Vice President Kamala Harris’ running mate, he was […]
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Harris matches Trump proposal to ban taxes on tips at Las Vegas rally
U.S. Vice President Kamala Harris (L) and Former President Donald Trump Reuters Vice President Kamala Harris pledged to eliminate taxes on tips in the service and hospitality sectors if she wins the presidency, echoing the same proposal former President Donald Trump announced months earlier. Both candidates promised tax-free tips at separate rallies in Las Vegas, […]
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Kamala Harris’ tax records reveal ‘fairly basic’ approach that may have missed savings, advisor says
U.S. Vice President Kamala Harris and second gentleman Douglas Emhoff descend from Air Force Two in Wilmington, DE, U.S., July 22, 2024. Erin Schaff | Via Reuters Vice President Kamala Harris’ personal financial records are under fresh scrutiny now that she is running for the highest office in the United States. Experts say recent tax […]
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Working remotely from a cruise ship? Here’s why the IRS still expects taxes
Jenny Hunnicutt poses in front of the Royal Caribbean Ultimate World Cruise, which she’s been on for nearly nine months traveling the world. While on board, she’s working remotely for her writing and consulting business based in Florida. Courtesy: Jenny Hunnicutt Income made ‘worldwide’ is taxable Despite a Bahamas flag flying atop the Serenade of […]
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Potential Harris VP pick Shapiro, Yellen announce free tax filing in PA
Josh Shapiro speaks at his swearing in as Governor of Pennsylvania at the State Capitol Building on January 17, 2023 in Harrisburg, Pennsylvania. Mark Makela | Getty Images Pennsylvania Gov. Josh Shapiro joined Treasury Secretary Janet Yellen on Tuesday to announce that Pennsylvania, a key election battleground, is the next state to get access to […]
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Dubai set to welcome even more millionaires as wealthy individuals abandon the UK
Aerial view of cityscape and skyscraper at sunset in Dubai Marina. Lu Shaoji | Moment | Getty Images The United Arab Emirates is on track to be the world’s top wealth magnet for the third year running, according to the Henley Private Wealth Migration Report. At the same time, the U.K. – already the source […]
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Hunter Biden seeks dismissal of criminal cases, cites Trump classified documents ruling
Hunter Biden, son of US President Joe Biden, walks upon arrival at Fort Lesley J. McNair in Washington, DC, on July 1, 2024. Mandel Ngan | Afp | Getty Images Lawyers for Hunter Biden on Thursday asked federal judges in California and Delaware to dismiss the criminal cases against him in their courts, citing a […]
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Treasury, IRS announce ‘major milestone’ of $1 billion in past-due taxes collected from millionaires
Internal Revenue Service Commissioner Danny Werfel testifies before the House Appropriations Committee on Capitol Hill in Washington, May 7, 2024. Kevin Dietsch | Getty Images News | Getty Images The U.S. Department of the Treasury and the IRS on Thursday announced what they called a “major milestone” of collecting more than $1 billion in tax […]
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Kenya president backs down on tax rises following deadly protests
A protester kicks a tear gas canister though demonstrating throughout the nationwide strike Luis Tato | Afp | Getty Visuals Kenya’s president on Wednesday withdrew planned tax rises, bowing to force from protesters who had stormed parliament, released demonstrations across the nation and threatened additional motion this 7 days. William Ruto said he would not […]
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