In several states, some governors were caught off guard by how personal income tax payments fell well below expectations. But, states should not have been so surprised, writes Norton Francis.
Self-made wealthy people are disappearing – six of today's 10 wealthiest Americans are heirs to prominent fortunes after being 'born into the right family,' writes Robert Reich. What does this mean for the rest of the US?
Between June 2013 and June 2014, Kansas saw its tax revenue fall by 11 percent. Why is Kansas still making so many tax cuts then, questions Howard Gleckman.
People with substantial income outside of Social Security may have to pay federal income taxes on their benefits. Lou Jeffries writes how to figure out how much you have to pay when you have Social Security.
As the Senate's finance committee chairman, Ron Wyden, is expected to introduce a bill that would reinstate expired tax breaks, Illinois and Pennsylvania are raising some local taxes of their own.
Tax Vox' Len Burman takes a closer look at the taxation plan proposed by US Rep. Dave Camp (R-MI). While it seems simple on the surface, Burman writes that Camp's plan introduces new hidden tax rates and other issues.
Is bitcoin really money? Or is it a capital asset? How about a commodity? ? The IRS says it is studying the matter but has yet to issue any guidance. Until it does, it is anyone’s guess how bitcoin should be taxed.
Instead of encouraging people to borrow, effective homeowner tax subsidies would create incentives for homeownership without tying tax breaks to mortgage debt. Tax Policy Center examines three possibilities.
Since mid-2009, some 95 percent of all US income gains have gone to the top 1 percent. Now, even powerful financiers are alarmed by the increased income inequality between rich and poor.