Taxes

While the jobless rate has declined since hitting a record high in April, millions of Americans are still out of work and have grown reliant on unemployment benefits to cover their bills. But it's these same workers who may be in for a very unpleasant surprise when they sit down to file their 2020 taxes next year.

There are, for sure, important nontax reasons for artists to cash in when they may have been reluctant before. Concert revenue has dropped sharply during the pandemic and prices for music rights are rising, now at 10 to 20 times the annual royalties.

The three-term Democratic governor said increases would be “dramatic” without additional federal funding.

One in 10 Americans had never heard of a Form W-4.

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.