tax

President Joe Biden‘s chief economic adviser reportedly vowed that Democrats would seek to overturn Trump’s corporate tax cuts in 2025, sparking a potential clash with the GOP over a tax law with expiring provisions. “It’s clear we need to end the 2017 tax breaks for the...

“Shark Tank” investor Mark Cuban has called for taxing robots, citing Marc Andreessen, a prominent venture capitalist. What Happened: Cuban responded to a post by Andreessen via X, formerly Twitter, where the latter suggested that the increasing use of robots in the workforce could lead...

The IRS is poised to take a significant leap into the digital age following an announcement by Treasury Secretary Janet Yellen. Taxpayers will soon have the opportunity to submit documents electronically, advancing the agency’s transition toward a paperless system ahead of...

H & R Block Inc (NYSE:HRB) shares gained as much as 11% on Wednesday after the tax preparer issued upbeat second-quarter earnings. The company also hiked its dividend by a generous 10%. Here's what investors need to know about the print, and how to earn $500 per month from the stock. Earnings...

Italy’s right-wing government made an unprecedented decision by applying a windfall tax charging a 40% withdrawal from banks' profits. The tax, which strategically targets the net interest margin, disrupted the financial landscape Tuesday despite its aim to inject fresh resources into Rome...

On May 28, U.S. lawmakers released a draft of a bill allowing the U.S. to increase its debt ceiling. This bill also included a number of add-on taxes, such as the Digital Assets Mining Energy (DAME) excise tax which proposed taxing crypto miners 10% of the cost of the electricity used for...

According to a Gallup poll conducted in April, nearly 60% of Americans say their federal income taxes are too high, a level last seen in 2001. The latest percentage is up 6% compared to a year ago and 15 points from the recent low measured in 2018 and 2019, the poll, whose...

The Internal Revenue Service said on Tuesday it has submitted a report to Congress evaluating a Direct File option for taxpayers. The federal agency said, in a statement, that many taxpayers are interested in using a free IRS-provided tool to prepare and file taxes. The IRS is taking steps to begin...

Negotiations to raise the U.S. federal debt ceiling met fresh snags after the White House presented congressional Republican leaders with a list of proposals to reduce the deficit by closing tax loopholes on Monday, which were universally rejected by the GOP. President Joe Biden will meet with key...

Non-fungible tokens (NFTs) may be taxed on par with other collectibles, such as fine wine or works of art, according to a recent document published by the U.S. Internal Revenue Service. This move could impact taxpayers who have included NFTs in their retirement plans. The proposed guidance is...

President Joe Biden is set to make his third State of the Union address Tuesday night at 9 p.m. ET according to the White House's official website. One focus of the speech will be his plans to make it harder for corporations to buy back their own stocks, according to a statement the White House...

A CryptoPunk NFT sold for a whopping 2,691 ETH, worth $3.3 million on Friday. But the owner sold it for a loss of $7 million.  This Punk is one of the 24 apes in the collection, making it one of the rarest characters.  "$3.2m is a joke for that ape, but it might be tempting for...

The Internet and Mobile Association of India (IAMAI) has dissolved a division, the Blockchain and Crypto Assets Council (BACC), according to a statement released by CoinDesk. What Happened: The decision by IAMAI was made unanimously without consulting the BACC. Over the past few months, Indian...

"Daily Show" host Trevor Noah recently criticized the tax laws that allow billionaire Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk to borrow money tax-free using his Tesla shares as collateral to fund his $44 billion proposed buyout of Twitter Inc (NYSE: TWTR). Noah argued there's a...

Amazon.com, Inc (NASDAQ: AMZN) Executive Chairman Jeff Bezos on Friday attacked President Joe Biden for his recent tweet on inflation and corporate taxation.  On Friday, Biden tweeted about curtailing inflation by taxing large corporations in the U.S. You want to bring down inflation? Let...