In 2016, about one-fifth of households will benefit from home ownership-related tax deductions. However, over 85 percent of those in the top 1 percent will enjoy these tax breaks while fewer than one-in-20 in the bottom 40 percent will benefit.
Donald Trump introduced a revision of his tax policy this week that ditches more of his most ambitious, costly, and controversial ideas.
Given a choice between protecting real constituents and financial contributors or approving rate cuts that do no-one special favors, lawmakers choose Door Number One.
Twenty-four hours in a minivan with one husband, two kids, and a large dog can drive a woman to ... think, a lot, about efficiency and fairness. No, not about which of the adults should do most of the driving. I thought about highway tolls with the E-ZPass system.
In terms of how much tax they pay, people should worry more about the payroll taxes their employers withhold from every paycheck.
House Judiciary Committee Chair Bob Goodlatte proposed his latest version of a bill to clarify when and how states can impose sales taxes on online and catalogue sales. It is … odd.
The EU's ruling has generated a swift backlash from the US high-tech industry, US policymakers across the political spectrum, and from Ireland itself. Yet, for all the howling, it might open the door for long-awaited US tax reform.
Republican presidential contender Donald Trump often expresses dismay about the US trade deficit, which he ties to the loss of good paying middle class jobs. The issue is more nuanced than Mr. Trump suggests.
Donald Trump’s proposal to cut the tax rate to 15 percent for pass-through businesses, such as partnerships and S corporations, would overwhelmingly benefit high-income taxpayers.
Any privacy concerns Donald Trump may have as a businessman are now outweighed by the public's right to take full stock of him as a presidential candidate.
The measures aren’t especially dramatic, and are unlikely to garner many headlines, but they have the potential to make tax filing vastly easier for owners of small firms.
Despite what Congress wants you to believe, a bill making Olympic medals and cash awards tax free would do almost nothing to help truly struggling athletes.
Donald Trump's tax reform plan would drain government coffers of revenues. Coupled with his promise to avoid cuts to Social Security and Medicare – two big parts of the budget – it would boost public debt to all-time record levels.
The Clintons are rich, pay a lot of taxes, and are more generous than average for people in their bracket.
In just three years as governor, Republican vice presidential nominee Mike Pence successfully pushed proposals to cut income taxes, corporate taxes, personal property taxes, and completely eliminate the state’s inheritance tax.
The Tax Policy Center projects that effective federal tax rates this year will range from 3.5 percent for households in the lowest-income quintile (or fifth) to 33 percent for those in the top 1 percent.
Donald Trumphas proposed allowing all families to deduct average childcare costs on their income tax returns. The details are muddy, but subsidies aren’t generally the best way to help low-income households pay for childcare.
In their support of Trump, the Republican Party is backing a substantially different tax plan than they were four years ago with Mitt Romney.
When it comes to taxes, how much can they be swayed by perception?
The 2016 Republican Party platform demands that Congress impeach and convict Internal Revenue Service Commissioner John Koskinen. Impeaching the commissioner may be good political theater, but it's bad for the country.