Taxes

If you’re going to play the game, make sure you know the rules. TPC’s Howard Gleckman considers the stability of our voluntary tax system. President Trump responded to The New York Times report on his substantial income losses by tweeting, “You always wanted to show losses for tax purposes…. it was sport.” The thing is,
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Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses Social Security’s earnings test, whether to file retroactively before 70, when spousal benefits can become available, how delayed retirement credits (DRCs) are calculated and applied and how foreign pensions
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Treasury Secretary Mnuchin says “nyet.” As expected, Mnuchin said he would not comply with House Ways & Means Committee Chair Richard Neal’s request for six years of President Trump’s tax returns. Mnuchin said the request “presents serious constitutional questions” and serves no legislative purpose. Neal may issue a subpoena for the returns and the dispute
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A worker prepares the Orion Drilling Co.’s Polaris oil and gas drilling rig to have the mast lifted upright for the first time at the company’s assembly and integration facility in Corpus Christi, Texas, U.S., on Wednesday, April 4, 2012. Oil BLOOMBERG NEWS The beginning of the US economy’s second year under the Tax Cuts
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With the 2020 presidential election underway, a few of the candidates have started addressing the mounting cost of higher education by presenting distinctive policy proposals on student loan debt. For example, Massachusetts senator Elizabeth Warren recently unveiled a proposal that would cancel up to $50,000 in student loan debt balances for households with annual incomes
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Did Trump, Schumer, and Pelosi agree on an infrastructure spending goal?  Senate Minority Leader Chuck Schumer and Speaker Nancy Pelosi announced yesterday that they reached an agreement with the president to try to craft a $2 trillion infrastructure plan. The White House was less enthusiastic. And then there is the matter of funding the plan.
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About the TCJA rollbacks and an infrastructure plan… Senate Majority Leader Mitch McConnell said Tuesday that any proposals to pay for infrastructure improvements will not include rollbacks to provisions of the Tax Cuts and Jobs Act. “That’s a non-starter…. the last thing we wanna do is step on all of this [economic] growth.” Then again,
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