Here are eight tax changes under the 'fiscal cliff' deal that may hit your pocketbook.
US President Barack Obama's 2015 tax plan will translate to cutting taxes for the US's working class while having the wealthiest Americans pay more, according to new estimates. The poorest 20 percent in households will see their after-tax income increase by 0.7 percent, while the top 20 percent's income after taxes will decrease by 1.2 percent.
The House Ways and Means Subcommittee on Oversight will review review the government’s ability to verify income and insurance information when it comes to the Affordable Care Act’s tax credits and subsidies on June 10. Meanwhile, Spain joins a growing list of countries that wants to lower the corporate income tax.
The House Ways and Means Committee voted to keep a corporate tax break permanent. And that is a mistake, Howard Gleckman writes.
Tension and gridlock have defined dealings between President Obama and Congress ever since Republicans took control of the House in 2010. Yet big issues, including immigration and weak job growth, remain unresolved.
Gleckman explains the tough politics of having, and reducing, a deficit.
Along with its upbeat forecast for the global economy, the World Bank also points to those nations finding new security from financial shocks by aligning policies with settled economic principles.
Subsidies for wind energy end at midnight Dec. 31, but Democrats are pushing for renewal of wind's production tax credit for 2014. Opponents say the subsidies are costly and inefficient.