Tag: tax

February 17, 2023

Supernova Technology’s Loan Operations Manager, Austin Mead, recently shared trends, and insights that he has seen during tax time, as well as tips on how banks can support their clients as they navigate what solutions are available to them for […]

February 6, 2023

A group of House Republicans is supporting legislation that would replace federal income, payroll, estate, and gift taxes with a 30 percent national sales tax. The bill also eliminates the Internal Revenue Service, giving states the responsibility to collect the […]

August 10, 2022

The federal government collected a record $4,104,725,000,000 in total taxes in the first ten months of fiscal 2022 (October through July), according to the Monthly Treasury Statement. That was up $503,787,000,000—or 13.9 percent—from the then-record $3,600,938,000,000 (in constant July 2022 […]

August 1, 2022

Sen. Joe Manchin, a West Virginia Democrat, infuriated Democrats by refusing to pass the Biden administration’s multi-trillion tax-and-spend “Build Back Better” agenda. At the time, he said it would stoke inflation. But now he’s agreed to approve elements of that […]

July 18, 2022

The federal government hauled in a record $3,835,390,000,000 in total taxes in the first nine months of fiscal 2022 (October through June), according to the Monthly Treasury Statement. That was up $502,438,730,000—or 15.07 percent—from the then-record $3,332,951,270,000 (in constant June […]

June 23, 2022

The collaboration aims to aid companies and their operations through AI, machine learning, automation and data and analytics applications on the KPMG proprietary Digital Gateway platform, enabled by the Microsoft Azure cloud. The companies say that the investment in new […]

February 10, 2022

The federal government collected a record $1,516,952,000,000 in total taxes through the first four months of fiscal 2022 (October through January), according to the Monthly Treasury Statement released today. The record $1,516,952,000,000 in federal tax collections included $824,571,000,000 in individual […]

November 19, 2021

“Never in American history will so many taxes be raised and so much borrowing be needed to pay for all this reckless spending.” McCarthy’s marathon speech began at 8:38 p.m. Thursday and ended eight hours and 32 minutes later, at […]

November 17, 2021

It’ll be easier for illegal aliens to obtain billions of dollars of taxpayer-funded benefits, if Democrats’ Build Back Better bill (H.R. 5376) is enacted. Currently, applicants must provide a valid Social Security number in order to receive benefits – but, […]

October 26, 2021

Democrats need to rethink their plan to tax billionaires on their unrealized capital gains, which will discourage investment in the U.S. economy, Sen. Mitt Romney (R-Utah) told Fox News on Monday. “I think it’s a big mistake,” he said. “Well, […]

October 12, 2021

With each passing week, it looks like World War III — between America and China — is coming sooner than we think. It’s not going to be fought with bullets or aircraft carriers, although the Chinese are building up their […]

September 21, 2021

An overlooked provision of the new, sweeping tax bill currently under consideration by Congress as part of President Joe Biden’s $3.5 trillion infrastructure plan would substantially limit the qualified small business stock (QSBS) capital gain exclusion for certain taxpayers. If […]

June 28, 2021

Sen. Joe Manchin (D-W.Va.), a pivotal vote in the evenly divided Senate, on Sunday described himself as a “fiscally responsible and socially compassionate” man who wants to find middle ground with both sides. He’s plugging both a bipartisan physical infrastructure […]

October 19, 2020

Break out those shovels, picks and the debit cards if a blue wave of Democrats washes into D.C. come Election Day. Goldman Sachs said Monday in a new note that a blue wave could lead to a whopping $2.5 trillion […]

January 16, 2020

Since the National Consumer Assistance Plan went into effect in 2017, public records must meet strict requirements to appear on consumer credit reports. Civil judgments and tax liens do not meet these new requirements, so they were removed from credit […]

April 12, 2019

President Donald Trump’s new tax law aided corporations so radically that twice as many companies paid no federal taxes whatsoever in 2018, despite billions of dollars in profit, according to a new study. Amazon, Netflix, Chevron, Eli Lilly, Delta Airlines, […]

March 15, 2019

Sometimes doing nothing is better than something. That’s especially true when the stakes are high and nobody really knows what the future will bring. Preserve the optionality, as it were, in trader-speak. The Federal Reserve, which tries to regulate the […]

October 12, 2018

Citigroup Inc. (C) , the U.S. bank with the most sprawling international operations, said third-quarter profit rose 12% from a year earlier thanks to President Donald Trump’s steep cuts in corporate tax rates, even as revenue growth stalled. Net income […]

May 14, 2018

Companies in the U.S. were already sitting on piles of cash before tax reform passed in December 2017. Now, with a strengthening global economy and a tax overhaul that lowers the corporate tax rate from 35 to 21 percent and […]

March 28, 2016

More than half of Americans say they’re bothered a lot by the feeling that some wealthy people don’t pay their fair share of taxes, according to a survey by Pew Research Center. In reality, the top 10 percent of taxpayers […]