Taxes

The National Taxpayer Advocate said the IRS had 35.3 million unprocessed returns at the end of the 2021 filing season, up more than four-fold from the 7.4 million unprocessed returns the agency had at the end of the 2019 filing season.

A group of 130 nations reached a groundbreaking agreement last week for a global minimum tax rate on corporations, but the tentative deal has been complicated by a handful of countries that refused to endorse the blueprint.

President Biden has unveiled a sweeping $6 trillion budget that would slash economic growth in the long run, even as it substantially reduced the public debt level, according to a new analysis published Tuesday morning.

The top sliver of U.S. households could see their tax bill climb substantially under the spending plan introduced earlier this year by President Biden.

Lawmakers are taking their battle over a Massachusetts tax law into their own hands after the Supreme Court said this week it would not weigh in.

The 2021 tax season was the “quintessential definition of a perfect storm” according to officials, but the total average refund from the returns processed so far is slightly higher than previous tax seasons.

Arizona Gov. Doug Ducey signed a budget this week that includes a gradual transition to a flat tax structure in the state.

Fox Business host Larry Kudlow slams President Biden for signing onto a global minimum tax on “Kudlow.”

The IRS is facing more than 35 million unprocessed tax returns, delaying refunds for many low-income Americans as the agency struggles to adopt a slew of changes related to coronavirus relief efforts, a government watchdog said Wednesday.

The interest you earn on the money in your savings account is considered taxable income in the year the interest was earned. The tax you pay is determined by your overall taxable income for that same year.

Some of President Biden’s plans to raise revenue for social programs via tax increases will exempt U.S. farmers and other small businesses.