tax

Economist Peter Schiff has sharply criticized Treasury Secretary Scott Bessent for downplaying the role of President Donald Trump's tax cuts in the recent Moody's downgrade of the U.S. sovereign credit rating, instead pinning the blame on the Joe Biden administration. What Happened: Schiff's...

In a bold departure from prevailing economic forecasts, Cathie Wood, the CEO and CIO of ARK Investment Management, has asserted that the prolonged “rolling recession,” that has gripped the U.S. economy for the past three years is nearing an end, paving way for a productivity-led...

President Donald Trump says that his administration will strip Harvard University of its tax-exempt status, intensifying an ongoing confrontation with the Ivy League institution. “We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve,” Trump...

After President Donald Trump unveiled the tariffs on all its trading partners on Wednesday, this economist recalled his analysis of tariffs being used to fund tax cuts. Meanwhile, another senior economist highlighted other possible implications of the tariff announcements. What Happened: Craig...

NBA icon Shaquille O’Neal once exhausted a $1 million paycheck in a single day, oblivious to the fact that a portion of his earnings were earmarked for taxes. What Happened: O’Neal disclosed this financial faux pas during an episode of the financial literacy podcast “Earn Your...

Former U.S. Secretary of Labor Robert Reich has called out the tax reduction plans of the Donald Trump-led administration in an X post, terming them as an “absolutely shameless giveaway,” that could shoot up the deficit by $4.6 trillion. What Happened: The possible tax cuts for rich...

As President-elect Donald Trump prepares a major legislative push after he takes office in less than two weeks, a group of Republicans is threatening to block his tax reform agenda unless the controversial State and Local Tax (SALT) deduction cap is addressed. These lawmakers, known as the SALT...

Former President Donald Trump has proposed making the interest on car loans tax-deductible for vehicles manufactured in the United States. This move is seen as an attempt to bolster the American auto industry and attract voters. What Happened: Trump made this announcement on Tuesday during a rally...

A loophole in the 2017 tax law is allowing large corporations to save millions of dollars that would have otherwise been paid to the government. What Happened: The Internal Revenue Service (IRS) attempted to rectify the issue with regulations, but the U.S. Tax Court unanimously ruled last week that...

Vice President Kamala Harris is reportedly calling for an increase to the corporate tax rate that would roll back part of former President Donald Trump's legislation from 2017 that resulted in a significant lowering of corporate taxes. What To Know: According to an NBC News report, Harris campaign...

In an attempt to address the escalating US debt crisis, Jamie Dimon, CEO of JPMorgan Chase & Co., has suggested a possible solution: taxing the wealthy at the same or higher rates than the middle class. What Happened: During a “PBS News Hour” interview, Dimon expressed his belief...

H&R Block Inc (NYSE:HRB) reported financial results for its fiscal fourth quarter after the market close on Thursday. Here’s a look at the key metrics in the report. Q4 Revenue: $1.063 billion, versus estimates of $1.028 billion Q4 EPS: $1.89, versus estimates of $1.74 “In...

In his speech at the Republican National Convention, Republican presidential nominee Donald Trump urged Democrats to stop the “partisan witch hunts” against him, using the recent dismissal of his classified documents case by a Florida judge as an example. He also stated that the...

Donald Trump aims to attract Wall Street donors with promises of new tax cuts next year. However, there are concerns about adding to the national debt due to the potential $4.6 trillion price tag attached to extending his 2017 tax cuts, reported Bloomberg. Despite the projection, many Republicans...

Intuit Inc (NASDAQ:INTU) shares tanked in premarket and morning trading on Friday, even after the company reported strong results for its fiscal third quarter. The results came amid an exciting earnings season. Here are some key analyst takeaways. BofA Securities On Intuit Analyst Brad Sills...