Taxes

Biden will expose income above $400,000 to the 12.4% Social Security tax.

More than 100,000 residents are potentially affected by the income tax levied by New Hampshire’s neighbor.

New Hampshire asked the U.S. Supreme Court on Monday to strike down a regulation that requires roughly 80,000 of its residents who are employed by Massachusetts companies to pay income taxes in the neighboring state while they work from home during the coronavirus pandemic.

Many companies have relocated their headquarters from California throughout recent years.

The 39-count indictment unsealed Thursday charges Brockman, the chief executive officer of Ohio-based software company Reynolds and Reynolds Co., with tax evasion, wire fraud, money laundering, and other offenses.

For Americans who requested a tax deadline extension earlier this year, Thursday marks the final day to file 2019 income returns without a financial penalty.

Higher-income households would experience 'substantial' tax increases.

Democratic presidential candidate Joe Biden has promised not to raise taxes on anyone making less than $400,000 a year, and while his proposed income tax changes wouldn't touch anyone under that threshold, his proposal to raise the corporate tax rate from 21% to 28% would result in modest tax increases for all Americans, according to a new analysis by the American Enterprise Institute. 

President Trump reiterated a pledge to continue lowering taxes if he wins reelection against Democratic challenger Joe Biden on Nov. 3, saying in remarks to the Economic Club of New York that he would reduce rates for middle-income Americans and corporations.