The IRS has yet to finish millions of returns from the 2021 tax season. That doesn’t bode well for 2022.
Several lawmakers from high-tax states like New York are pushing for changes to a key tax deduction in Democrats’ $3.5 trillion spending package.
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The 2017 tax cuts put a $10,000 cap on the deduction for state and local taxes. The richest households would see the biggest gains from eliminating or raising the cap.
Some extremely rich people are paying a much smaller share of their income on taxes than other folks.
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David Campbell, Binghamton University, State University of New York
News about how little income tax some of the richest Americans reportedly pay is adding to questions about the value to society of their massive charitable donations.
Should America’s billionaires be paying more tax?
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We’re all in this pandemic together. But we’re currently leaving it to a small proportion of the community to shoulder most of the economic pain. It’s an approach that’s compounding social and intergenerational…
A sign in Texas in 1939, at the end of the Great Depression.
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The Canadian federal government’s COVID-19 Economic Response Plan includes tax-related measures. It’s helpful to examine tax supports for individuals by considering the past, present and future.
Digital traders will not escape taxation.
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Robert Breunig, Crawford School of Public Policy, Australian National University
The graph says Americans on the highest incomes now face lower tax rates than Americans on low incomes. It’s a consequence of an unusual definition of income.
Win-win? No-one would be worse off under the UNSW proposal. Over time it should pay for itself.
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The Stage 3 cuts would make Australia’s income tax system the least progressive in 60 years.
Crash or crash through? Treasurer Josh Frydenberg and Prime Minister Scott Morrison walk to a meeting with the Reserve Bank governor on Wednesday.
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