Taxes

Billionaire bond fund manager Jeffrey Gundlach isn’t planning to cut his ties to California just yet, despite the departure of his wealthy peers from the Democrat-led state and others with high tax rates.

Elon Musk, the inventor, investor, and capitalist, has called it quits on California, his home for the past 25 years.

The Internal Revenue Service still needs to process about 1 million paper tax returns after the coronavirus pandemic and subsequent stay-at-home mandate upended operations, the agency’s commissioner told Congress during recent Capitol Hill testimony.

If Democratic candidates Raphael Warnock and Jon Ossoff win the Georgia Senate runoffs in January, wealthy Americans living in the Peach State could see their top tax rate climb to 55%, according to a new analysis. 

This year the coronavirus pandemic turned millions of workers into telecommuters, and many haven’t yet returned to the office. People who have worked from a state that isn’t their usual one may need to file returns and pay taxes to more than one state for 2020.

The Trump administration has taken another step in its efforts to open up Alaska's Arctic National Wildlife Refuge for drilling, announcing Thursday it would sell oil and gas leases on Jan. 6.

An effort to legalize marijuana in New Jersey could include a "social equity" tax to address the disparate effect of anti-drug laws on communities of color.

President-elect Joe Biden suggested this week that he supports returning individual and corporate tax rates to Bush-era highs even though his economic agenda likely hinges on the outcome of two Georgia runoff elections in January.

As a retiree, the last thing you want to worry about is paying out a big chunk of your fixed income to the IRS. Unfortunately, many different sources of retirement income could be taxable, including distributions from your retirement account as well as some of your Social Security benefits.

President-elect Joe Biden's Office of Budget and Management (OMB) director pick, Neera Tanden, previously pushed for a national soda tax that experts say would have had the greatest impact on low-income households.

Netflix will have to start declaring its U.K. revenues after facing criticism for allegedly structuring itself to avoid taxes with overseas tax havens. 

The window of opportunity to trim that 2020 tax bill, save for retirement and leverage strategies to secure your financial future is closing.