Money and Policy

The CEOs of Starbucks and Goldman Sachs will join leaders from philanthropy and academia in a new initiative to address the racial wealth gap in the United States.

New York is set to raise taxes on its wealthiest residents after Gov. Andrew Cuomo and legislative leaders reached a tentative agreement that would make the state's millionaires pay the highest income rate in the nation.  

The Internal Revenue Service will automatically issue tax refunds next month to Americans who already filed their returns but are eligible to take advantage of a new break on unemployment benefits.

President Biden has pledged to raise taxes on high-earning Americans in order to pay for his forthcoming infrastructure bill, but the design of the levy may inadvertently hurt married couples.

Billionaire philanthropists John and Laura Arnold have committed to donate 5% of their wealth annually as part of an effort to encourage increased, timelier donations to charities.

The IRS is holding onto more than $1.3 billion in unclaimed tax refunds for individuals who did not file a return in 2017 — money that will expire if those people don't collect it soon, the agency said Monday.  

The IRS sent out a third batch of stimulus checks this week that includes "plus-up" payments for Americans who are eligible for more money now that their 2020 tax returns have been processed.  

President Biden's $1.9 coronavirus relief package offered a major tax break for millions of Americans were collected unemployment aid last year.

House Speaker Nancy Pelosi signaled support this week for including a repeal of the $10,000 cap on state and local deduction in President Biden's sweeping spending proposal.