“We estimate that 36% of federal income taxes unpaid are owed by the top 1%.” A new analysis by IRS researchers and academics published Monday morning estimates that the richest 1% of U.S. households don’t report around 21% of their income, often using complex tax avoidance strategies that allow them to outmaneuver the federal government’s increasingly rare audits of […]
WASHINGTON – Wednesday, the Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they disbursed approximately 90 million Economic Impact Payments from the American Rescue Plan. As announced last week, Economic Impact Payments are rolling out in tranches to millions of Americans in the coming weeks. The […]
“This is wild. I’ve honestly never seen something at this scale and speed in the time I’ve covered politics.” Direct payments ranging from $1,400 for individuals to $5,600 for families of four began landing in U.S. bank accounts late Friday, just over 24 hours after President Joe Biden signed into law a $1.9 trillion coronavirus relief package […]
WASHINGTON – Millions of pages of former U.S. President Donald Trump’s tax returns and business documents have been turned over to New York prosecutors after he lost a 17-month effort to keep investigators from obtaining them. The records, including the federal income tax returns Trump filed with the government’s Internal Revenue Service from 2011 to […]