Articles on Taxes

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Should wealthy Canadians pay an inheritance tax? In this photo from 2002, David Thomson listens during the annual meeting of Thomson Corp. The Thomsons are considered Canada’s richest family. (CP PHOTO/Aaron Harris)

Should Canada have an inheritance tax?

Canada is the only G7 country that doesn't have an inheritance tax. A new report says that should change. The idea of sharing the wealth from one generation to another is not new.
Tariffs may help certain industries, but their broader impact on middle- and lower-income consumers is generally harmful. Reuters/Lawrence Bryant

How Trump’s trade war affects working-class Americans

The president says he's fighting his trade war because a generation of free trade has failed working-class Americans. An economist explains why tariffs will only make things worse.
Treasurer Scott Morrison may be happy with a budget in balance by 2019-20, but the rising burden on individual taxpayers is a worry. Mick Tsikas/AAP

Rising reliance on personal income tax signals need for bolder reforms

Personal income taxpayers are shouldering more of the burden, while less revenue is coming from taxes on companies, capital and consumption. Only major reforms will change these sustained trends.
Members of the tea party movement seen rallying outside the Capitol in 2013. AP Photo/J. Scott Applewhite

The real IRS scandal has more to do with budget cuts than bias

The tax agency, as it happens, singled out both conservative and liberal groups seeking tax-exempt status for extra scrutiny. But the myth that it picked on the tea party movement hasn't gone away.
The IRS is friendlier than you think. Shutterstock.com

What to do if you owe the IRS money

Million of taxpayers receive notices from the IRS about unpaid tax debts. Believe it or not, the agency understands.
Each year many people cheat on their taxes. Pictures of Money

How to stay honest this tax season

While people often want to cheat in certain cases if it would benefit them, they also want to think of themselves as honest. Here are three steps to stay honest while filing taxes.
Pres. Dwight Eisenhower, right, looking at a map in 1955 of highways to be built with federal funds that retired Gen. Lucius Clay, left, had outlined. AP Photo/Byron Rollins

Why Trump may usher in the biggest gas tax hike ever

Despite all their anti-tax sentiments, Republicans from Hoover to Trump have embraced this levy on sales at the pump.
New York Gov. Andrew Cuomo vows he will fight to protect his state from fallout from the new tax law. AP Photo/Hans Pennink

Why states may get away with creative income tax maneuvers

New York, California and other high-tax states are angling to use the charitable deduction and state payroll taxes as workarounds to shield both their residents and their revenue.

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