Taxes Trump is keen to lower corporate taxes. Not all his GOP colleagues are on board. Republicans are far from unified when it comes to what to do about the 21% federal corporate tax rate if they control Washington next year. Yahoo Finance • 4 months ago PG High school athletes with NIL deals can face unexpected tax bills As tax day approaches, parents of high school athletes with social media and NIL deals need to make sure that the IRS doesn’t come for their children’s assets. Tax refunds are almost 29% smaller this year, early IRS data shows Taxpayers were seeing 29% smaller refunds compared to the same point last year. The average tax refund was nearly $3,200 last year. Here’s why that’s too high. Experts reasoned that a large refund amounts to an interest-free loan to the government. Why a stalled bill on Capitol Hill could make for a ‘very, very stressful tax season’ Lack of direction from Congress on the Tax Relief for American Families and Workers Act of 2024 could complicate filing season for millions of taxpayers. Tax refund schedule: Here’s when you’ll get your 2024 refund The IRS said to expect refunds within 21 days. But it's possible to shorten that timeframe. How the SALT tax deduction helped stall Jim Jordan's speaker candidacy An important ingredient in the GOP opposition to Jim Jordan is a debate over the contentious issue of state and local tax deductions. Tech-enabled tax scams are more common than you think – here's how to avoid them As we're coming down to the wire on tax season, it's easy to forget that tax-filing time is also prime time for scammers. Don't buy it? In 2022, the Internal Revenue Service (IRS) pinpointed more than $5.7 billion in tax fraud. ‘I believe this is going to happen’: Warren says a minimum tax on corporations is still on table Democrats are still holding out hope that a slimmed down social spending package is possible in the months ahead. Florida actually dissolving Disney's special status unlikely since 'consequences too dire,' expert predicts As Disney grapples with the aftermath of Florida Governor Ron DeSantis revoking the company's special tax district status, some experts say the dissolution might not even happen. These 4 Fortune 100 companies paid negative federal taxes in 2021 A new report finds just how adept many of America’s biggest companies remain at avoiding taxes. J.M. Smucker CEO sees at-home coffee drinking as here to stay Smucker believes people will continue "working from home"..."potentially for a long time," which has big implications for coffee drinking. These COVID relief provisions are set to expire before Jan. 1 The end of the expanded Child Tax Credit is just one of a series of COVID relief provisions set to expire this week. Why Build Back Better is so unloved Democrats think voters will love the legislation, once it's in effect. Voters have other ideas. Representative Kevin Brady on debt ceiling: 'I hate the way it's being done' Representative Kevin Brady says Americans hate the way Congress fights over raising the debt ceiling. Senator Sherrod Brown on inflation: 'It's surely not government spending' Senator Sherrod Brown says government spending softened the blow from the COVID-19 pandemic and did not cause the inflation rate to spike to a 30-year high. Why tax increases in 2021 could make make it harder to balance the budget in coming years The House of Representatives advanced the Democrat’s Build Back Better Act on Friday with a range of tax increases but it was a far cry from their initial ambitions. There’s a “lesson here,” a budget and tax expert told Yahoo Finance. It’s ‘not a quick hit’: Democrats highlight the gradual nature of their spending bills amid inflation worries In light of heightened concerns over inflation Democratic lawmakers have been careful to stress how provisions of the BBB will roll out over many years. This element of Biden’s agenda ‘has led to higher inflation’: Congress’s Budget Chief The $1.9 trillion American Rescue Plan that became law in March is a key factor in today's inflation woes, according to one expert. A new hurdle for Biden’s Build Back Better legislation A major dispute is looming over how much tax revenue beefing up the IRS would bring in. Maybe Biden should quit while he’s ahead The infrastructure bill Congress just passed is popular. The social-welfare bill they're working on now is not. SALT cap: Democrats still batting around ideas for how to reinstate the contentious tax rule In the up-and-down negotiations over the Democrat’s social spending package, the fate of the State and Local Tax (SALT) cap has been one of the hardest to pin down. Why the 'socialist' label sticks to Democrats Liberal Democrats such as Bernie Sanders and Alexandria Ocasio-Cortez are out-shouting President Biden. Climate carnage is inevitable We're too far behind to stop the ravages of climate change. The best we can do is damage control. This week in Bidenomics: The cartoon presidency Fictional cartoon characters are now part of Biden's legislative strategy. And they're in trouble. Biden's plan 'doesn't hang together,' GOP economist says President Biden says his new Build Back Better framework will pay for itself and then some. But Douglas Holtz-Eakin says what is likely to actually transpire over the coming decade could be very different. Biden economic advisor: Progressives 'need to take this win' One of Biden’s top economic advisors had a succinct message for the progressive wing of her party. Here's what's in the $1.75 trillion framework Biden is pitching to Congress The White House announced a $1.75T spending plan on Thursday morning that administration officials say they should gain the support of every Democratic senator and pass the House. Stocks sold for tax reasons often surge at year-end: Bank of America Tax-loss harvesting is a popular way to lower capital gains tax bills. But because everyone does it at the same time, interesting patterns emerge. Why can’t Democrats keep it simple? The party in power is now jettisoning straightforward tax hikes in favor of unproven ones that might not even work. How the White House is trying to shake off the loss of a key climate provision For months, a key provision of the Biden climate plan has been a program called the Clean Electricity Performance Program. The program appears gone but here's how the White House says it can meet its goals anyway. The backlash against effort to raise taxes is ‘almost religious fervor,’ says Commerce secretary One of Joe Biden’s oft-repeated promises from the 2020 campaign trail and his first year in office is that he'll raise the corporate tax rate. Now, the idea appears likely to fall out of the economic package entirely. 'Failure is just not an option' for Democrats' spending plan, PIMCO's head of public policy says PIMCO's Head of Public Policy, Libby Cantrill, says 'failure is just not an option' for Democrats' spending plans, but says package will be much smaller than President Biden originally hoped. Here's when the IRS can check out my bank account How about the tax police first prove they can shake more money out of wealthy tax evaders. Voters have the answer for Democrats on spending A generous new entitlement isn't proving as popular as liberal Democrats expected. Trump, after adding trillions to the government’s IOUs, comments on debt ceiling fight Former President Donald Trump says our country has a debt problem and that the debt limit fight is "a bad situation to be in.” Left unmentioned of course was Trump’s own role in creating the situation. This week in Bidenomics: Here comes Biden-lite While Democrats are at an impasse, it’s a necessary impasse, because it begins a fight that was going to happen anyway. This week in Bidenomics: Those slippery billionaires Biden administration economists are taking aim at billionaires, but even Democrats seem uninterested. SALT: Here's how lawmakers could alter key contentious tax rule Democrats and Republicans have dug in when it comes to the state and local tax (SALT) deduction and the upcoming budget reconciliation package. Gary Cohn: 'We need to force people in many respects' back to work Gary Cohn, the former director of the National Economic Council, warns COVID-19 pandemic benefit programs contribute to the current labor shortage. Robinhood’s new crypto wallet lets customers loose in the crypto sector Investing app Robinhood said Wednesday it will provide a crypto wallet for customers, letting them send and receive crypto assets off its platform. Democrats want $273 billion in tax credits to achieve Biden’s climate goals Energy Secretary Jennifer Granholm explains why tax credits are key to achieving the Biden administration ambitious climate goals. This week in Bidenomics: The rich will survive Investors have seen the worst tax hikes Democrats can throw at them, and shrugged. The Democratic tax hike Biden can’t allow Biden's vow not to raise taxes on most Americans limits the funding available to finance his spending plans. Here are the key retirement provisions in the $3.5 trillion reconciliation bill The most far-reaching part of Democrats' proposal within the $3.5 trillion reconciliation package is the requirement for many businesses to offer a retirement plan for their workers. Higher taxes are necessary to invest and compete globally: US Commerce Secretary President Biden and House Democrats have proposed corporate tax increases. U.S. Commerce Secretary Gina Raimondo says they're necessary to pay for improvements that will make corporate America more competitive globally. Get ready to hate Congress (even more) Nobody wants to hear about the needless debt-ceiling showdown, but a political standoff could still cause damage to financial markets. People 'eager to raise taxes on anybody but themselves,' says fiscal watchdog With new tax proposals unveiled, the president of the Committee for a Responsible Federal Budget warns promises to pay for $3.5 trillion in new spending are already being broken. Treasury: 97% of small-business owners won't face income tax increase under Biden tax plan The Treasury Department said on Thursday its new analysis shows 97% of small business owners will not see an income tax increase under President Biden's tax plan. The sneaky tax move Democrats are planning They hope nobody notices, but Democrats hope to restore the SALT tax break that mostly benefits the wealthy