Taxes

Democratic political strategist Brad Bannon said raising taxes is always “troublesome politically” but that the Biden administration was betting on two things: raising the taxes on the wealthy would only affect “2 or 3% of voters” and that if by next fall, midterm election season, the economy has recovered from the pandemic, “Americans will be so grateful they’ll overlook the tax issue."

Advocacy groups are urging the IRS to delay this year’s tax filing deadline as the agency begins sending out another round of economic impact payments to American households.

The Senate on Tuesday confirmed Isabel Guzman as head of the Small Business Administration, as the Biden administration reportedly prepares to unveil plans to raise corporate taxes.

Higher taxes on corporations is "very bad news" for the U.S., according to Americans for Tax Reform President Grover Norquist.

Treasury Secretary Janet Yellen indicated that President Biden is open to pursuing a wealth tax as a means of paying for his multitrillion-dollar agenda and addressing the nation's swelling federal budget deficit. 

The IRS could do a better job collecting taxes owed by wealthy Americans, a watchdog report claims, since hundreds of thousands of high net worth individuals have skated by without reconciling delinquent payments.

New York lawmakers unveiled a new proposal on Sunday that includes nearly $7 billion in tax hikes on top earners and Wall Street.

Rep. Van Drew responds to the Biden administration eying the first major tax hike since 1993.

President Biden is reportedly planning to include the first major tax hike in close to 30 years in the next economic spending bill set to follow his $1.9 trillion coronavirus relief package.

Wells Fargo and JPMorgan Chase told customers they may not receive the third round of stimulus checks until at least Wednesday.

BMO Capital Markets chief strategist Brian Belski weighs in on New York State lawmakers proposing nearly $7 billion in new taxes on the wealthy.