Taxes

Pandemic good Samaritan faces hefty tax bill for his efforts

A Connecticut middle school teacher who raised $41,000 to help hundreds of his struggling neighbors during the COVID-19 pandemic got an unwelcome surprise for his charitable efforts: a form stating he could owe $16,031 in income taxes.

Foxconn, Wisconsin reach new deal on scaled back facility

Foxconn Technology Group, the world's largest electronics manufacturer, has reached a new deal with reduced tax breaks for its scaled back manufacturing facility in southeast Wisconsin, Gov. Tony Evers and the the company announced on Monday.

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.