• Will Ancient IRS Technology Eat Your Tax Refund?

    By Michael Rainey

    An essential piece of software involved in processing millions of tax returns for the IRS is “old enough to be a grandparent,” reports Nextgov , and officials are worried about what would happen if...

  • Chart of the Day: US Household Income

    By Michael Rainey

    The Congressional Budget Office released a new report Monday on the distribution of income in the U.S. Ignoring means-tested transfers and federal taxes, the average household income in 2014 was $19,...

  • Democrats’ New Weapon in the Tax Wars: Interactive Maps

    By Michael Rainey

    The political battle over the effects of the Republican tax cuts is heating up, with Democratic lawmakers on the Joint Economic Committee releasing a set of interactive maps Monday designed to show...

  • Minor League baseball players stretch in Maryland before game

    Tax Bill Throws Wicked Curve at Pro Sports Teams

    By Michael Rainey

    Thanks to a 1967 ruling from the IRS, professional sports franchises have made trades without worrying about taxes. Under the rule, player contacts were swapped as “like-kind property,” a tax-free...

  • A Withering Take on the New Pass-Through Tax Rules

    By The Fiscal Times Staff

    Daniel Shaviro , a tax law professor at New York University, published an analysis of the new U.S. rules for pass-throughs, and the abstract for the paper is just scorching: "The pass-through rules...

  • Sen. Schumer attends a news conference on Amtrak funding on Capitol Hill in Washington

    Democrats Unveil $1 Trillion Infrastructure Plan – and Tax Hikes to Pay for It

    By Michael Rainey

    Senate Democrats proposed a $1 trillion infrastructure plan Wednesday, and they want to repeal parts of the Republican tax overhaul to pay for it. In what was likely a preview of a key Democratic...

  • A congressional aide places a placard on a podium for the House Republican's legislation to overhaul the tax code on Capitol Hill in Washington

    How States Are Responding to the GOP Tax Overhaul

    By Michael Rainey

    Concerned about the effects of the Republican tax overhaul on their local economies, some state legislatures are considering revamping their own tax systems to address everything from lost tax...

  • Samsung washing machines are seen in a store in Singapore

    What Trump Is Risking by Imposing Tariffs

    By The Fiscal Times Staff

    Ed Yardeni of Yardeni Research says President Trump’s protectionism is cause for concern: "Too bad that Trump is starting to stir up a hornets’ nest over trade. That man just doesn’t know when to...

  • Why Tax Cuts for Health Care Companies Won’t Benefit Patients

    By The Fiscal Times Staff

    The tax cuts passed in December will drop billions of dollars on the bottom lines of U.S. businesses, and most of that money is expected to end up in the pockets of investors through dividends and...

  • Tax Cuts May Not Be Enough for the GOP in 2018

    By Michael Rainey

    Republicans are worried that a tax cut that puts more money in voters’ pockets may not be enough to overcome President Trump’s low approval ratings come November. The party is nervously watching the...

Taxes Directory

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