Taxes

Is life insurance taxable?

Knowing when life insurance is taxable and how to avoid taxation can help families ensure their loved ones get all of their policy’s proceeds.

IRS chief says $1T in taxes may go uncollected each year

As much as $1 trillion a year in federal taxes may be going unpaid because of errors, fraud and lack of resources to enforce collections adequately, Internal Revenue Service Commissioner Charles Rettig, told lawmakers Tuesday.

White House denies Biden open to gas tax to pay for infrastructure plan

The White House denied Monday that President Biden supports the implementation of a higher “gas tax” after the concept arose during a meeting with a bipartisan group of lawmakers to discuss his $2.3 trillion spending package on infrastructure and other policy initiatives.