Tag Archives: tax

WASHINGTON (AP) — The Justice Department, in a reversal, says the Treasury Department must provide the House Ways and Means Committee former President Donald Trump’s tax returns, apparently ending a long legal showdown over the records.  In a memo dated Friday, Justice’s Office of Legal Counsel said the committee chairman “has invoked sufficient reasons for requesting the former President’s tax information” and that under federal law, “Treasury must furnish the information to… Source link

A fresh stimulus check may be on the way to you, thanks to your tax return More than four months after it started, the pandemic’s third round of stimulus checks is still going. The IRS says it continues to push out millions of relief payments — including extra money to people who already got a third check. The tax agency just announced it has sent out hundreds of thousands more bonus payments to Americans, based on information gleaned from recently filed tax returns. And over 1 million other… Source link

By David Lawder and Joel Schectman    WASHINGTON, July 18 (Reuters) – U.S. lawmakers trying to salvage a $1.2 trillion bipartisan infrastructure bill have dropped a provision to beef up tax enforcement, Republican Senator Rob Portman said on Sunday, setting aside a significant revenue-raising measure.    The provision, aimed at increasing Internal Revenue Service (IRS) collections, will instead likely be added to a separate budget “reconciliation” bill being pushed by Democrats as a… Source link

When the monthly Child Tax Credit payments start this week, the Meyette family of Fontana, California, will see their household income increase by 25% — a much-needed boost at this time. Erica Meyette recently underwent surgery and her husband Jonathan, who is the sole breadwinner, missed two weeks of work to care for her. The $600 the family will get for their two daughters will go to expenses, savings, and any medical debt they incur. “So $600 a month is an increase of big proportions… Source link

The IRS is paying out 4M surprise tax refunds this week — will you get one? Millions of Americans still reeling financially from the COVID crisis will be sent surprise tax refunds this week, the IRS says. Unexpected direct deposits and paper checks are scheduled to go out to people whose tax bills were reduced after they’d already paid them, thanks to a provision in President Joe Biden’s massive pandemic rescue bill from March. A windfall from the IRS might be just the cash infusion you need… Source link

(Bloomberg) — For 110 years, four generations of Mills family members earned their money by expanding their great-grandfather’s Chicago apron business into a medical supplier that ranked among the nation’s largest private companies. But soon after Democrats turned their attention toward raising taxes for the wealthy this year, the family signed a deal to cash out billions. It was no coincidence, according to people close to the more-than $30 billion transaction, which sold part of Medline… Source link

The Google logo is seen on on the company’s European headquarters in Dublin, Ireland, February 27, 2021. REUTERS/Clodagh Kilcoyne/File Photo Google (GOOGL.O) said on Saturday that it supports the work being done to update international tax rules after G7 finance ministers agreed to pursue a global minimum corporate tax of at least 15% and to reallocate taxing rights for large, profitable multinational companies. “We strongly support the work being done to update international tax rules…. Source link

During his campaign for president, John Delaney once described himself as a “solutions-oriented moderate.” His policy ideas, which were numerous, didn’t gain traction during an election often dominated by more liberal voices. Delaney himself was out of the race by January 2020 but once all was said and done, a fellow moderate — Joe Biden — ended up with the nomination and the presidency. In an interview with Yahoo Finance this week, Delaney, a former Maryland Congressman who now… Source link

Bloomberg Owl Rock, Dyal Create Asset Behemoth With SPAC Merger (Bloomberg) — Investing giants Owl Rock Capital and Dyal Capital Partners completed their merger after clearing legal hurdles, with stock of the newly combined behemoth initially jumping as much as 11% on its first day.Now known as Blue Owl Capital Inc., the company counted $52.5 billion in assets under management as of March 31, and 91% of the sum is permanent capital, according to a Thursday statement.Blue Owl is the… Source link

President Joe Biden is calling on Congress to raise taxes on the wealthiest Americans in order to pay for programs designed to support families and children — including two years of free community college, paid family leave, efforts to make child care more affordable and universal preschool.  Biden will outline the American Families Plan in his first address to a joint session of Congress on Wednesday night. The proposal — the second phase of his plan to overhaul the U.S. economy —… Source link