Tag: Federal Taxes (US)

Bernie Sanders Released His Tax Returns. He’s Part of the 1%.

WASHINGTON — Senator Bernie Sanders of Vermont disclosed 10 years of tax returns on Monday, providing a more detailed look at his finances than he offered when he ran for president in 2016. The returns show that Mr. Sanders’s earnings shot up after his last presidential bid, when he built up a vast national following. […]

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Face It: You (Probably) Got a Tax Cut

If you’re an American taxpayer, you probably got a tax cut last year. And there’s a good chance you don’t believe it. Ever since President Trump signed the Republican-sponsored tax bill in December 2017, independent analyses have consistently found that a large majority of Americans would owe less because of the law. Preliminary data based […]

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Shocked by Your Tax Refund? Next Year Could Be Worse Unless You Act Now

Conor Barnes, an accountant in New York, decided to stop telling her clients to “have a nice day” at the end of their meetings. Often she delivered news that had, in fact, ruined their day: They owed the government money, sometimes a painfully large amount. The overhaul of the tax code — the first in […]

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Editorial Observer: Everyone’s Income Taxes Should Be Public

In October 1924, the federal government threw open for public inspection the files that recorded the incomes of American taxpayers, and the amounts they had paid in taxes. Americans were gripped by a fever of interest in the finances of their neighbors. This newspaper devoted a large chunk of the front page to a list […]

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House Chairman Says Treasury’s Reasons to Withhold Trump’s Tax Returns ‘Lack Merit’

A Democratic House chairman on Saturday castigated the Treasury Department for failing to meet his deadline to furnish President Trump’s tax returns, arguing that the administration’s apparent concerns over his use of powers outlined in the Internal Revenue Service’s tax code “lack merit.” The chairman, Representative Richard E. Neal, Democrat of Massachusetts, set a new […]

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Retiring as a Judge, Trump’s Sister Ends Court Inquiry Into Her Role in Tax Dodges

President Trump’s older sister, Maryanne Trump Barry, has retired as a federal appellate judge, ending an investigation into whether she violated judicial conduct rules by participating in fraudulent tax schemes with her siblings. The court inquiry stemmed from complaints filed last October, after an investigation by The New York Times found that the Trumps had […]

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Donald Trump’s Tax Returns: What We Might Learn

Democrats are hoping that President Trump’s federal tax returns will serve as a Rosetta stone to unlock the secrets of his murky finances. Mr. Trump, on the other hand, has spent the past three years refusing to divulge the returns and even dismissing them as boring. Now, the fight over whether members of Congress have […]

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Treasury Dept. Declines House Request for Trump’s Tax Returns

WASHINGTON — The Treasury Department said on Wednesday evening that it would not immediately comply with a congressional request to hand over President Trump’s tax returns, setting up a protracted legal battle between two branches of government. Steven Mnuchin, the Treasury secretary, said in a letter to Representative Richard E. Neal, the Democratic chairman of […]

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Elizabeth Warren Posts Her 2018 Taxes: ‘Doing This Should Be Law’

WASHINGTON — Senator Elizabeth Warren of Massachusetts disclosed her 2018 tax returns on Wednesday, showing that she earned about $325,000 from her books last year on top of her Senate salary. Ms. Warren had previously posted 10 years of her tax returns online, and she has called on her fellow presidential candidates to do the […]

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Bernie Sanders, Now a Millionaire, Pledges to Release Tax Returns by Monday

WASHINGTON — Senator Bernie Sanders, whose $18 million fund-raising haul has solidified his status as a front-runner for the Democratic presidential nomination, said Tuesday that he would release 10 years of tax returns before Tax Day on Monday and acknowledged that he has joined the ranks of the millionaires he has denounced for years. “April […]

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U.S. Readies Another $11 Billion in Tariffs on E.U.

WASHINGTON — The United States and the European Union are preparing to levy tit-for-tat tariffs on each other’s products as part of a long-running dispute over the aerospace industry, the latest escalation in a 14-year fight over government aid given to Boeing and European rival Airbus. “The World Trade Organization finds that the European Union […]

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Mnuchin Enters Hot Seat as Battle for Trump’s Tax Returns Escalates

WASHINGTON — A congressional request for President Trump’s tax returns has put one of his most loyal aides, Treasury Secretary Steven Mnuchin, at the center of what is shaping up to be an extraordinary legal battle between two branches of the United States government. A decision on whether to turn Mr. Trump’s tax returns over […]

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Your Money Adviser: Still Haven’t Filed Your Taxes? Here, Last-Minute Advice

If you haven’t filed your tax return yet, time is getting short. But you aren’t alone in procrastinating. The number of individual tax returns received by March 29 was down more than 1 percent from the same time last year, the Internal Revenue Service reported, and the size of the average refund declined by 0.7 […]

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Trump Lawyer Tells Treasury Not to Give Democrats Tax Returns

WASHINGTON — A private lawyer for President Trump told the Treasury Department on Friday that House Democrats demanding the president’s tax returns were abusing their powers to damage him politically, and he urged the department to keep the returns secret. The letter from William Consovoy, a lawyer whose firm also represents Mr. Trump in lawsuits […]

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The Incredible Shrinking Trump Boom

So far, Donald Trump has passed only one significant piece of legislation: the 2017 tax cut. It was, to be fair, a pretty big deal: corporations, the principal beneficiaries, have already saved more than $150 billion, and over the course of a decade the tax cut will probably increase the budget deficit by more than […]

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How Sovereign Citizens Helped Swindle $1 Billion From the Government They Disavow

One day in 2015, Barbara Lavender’s husband returned from a U.F.O. conference and handed her a business card. It bore a red theater-curtain background, a vintage microphone and gold-and-white lettering that read: “Sean David Morton, Radio Host, Public Speaker, Author, Director, Screen Writer, Actor.” The polymathic Mr. Morton, Jeff Lavender told his wife, was U.F.O. […]

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The Taxman Is (Not) Coming After You

According to federal prosecutors, the California lawyer Michael Avenatti has not filed a federal income tax return since 2010, and he has not paid federal income taxes since 2008. This may seem astonishing to the millions of Americans who dutifully file tax returns each year, under the assumption that the government would notice if they […]

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Stephen Moore’s Unpaid Taxes Underscore Trump’s Vetting Woes

President Trump has made “extreme vetting” a priority for his immigration policies, but when it comes to scrutinizing his own federal nominees, he has been less aggressive. The latest example is Stephen Moore, the conservative economist and former campaign adviser, whom Mr. Trump picked last week to serve on the Federal Reserve’s Board of Governors. […]

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News Analysis: Trump Owns the Economy Now, for Better or Worse

WASHINGTON — President Trump is getting exactly what he wants on the economy, just as it starts to slow down. The Federal Reserve has abruptly stopped its march toward higher interest rates, as Mr. Trump demanded. The tax cuts he signed in late 2017 are in full swing. His attempt to rewrite the global rules […]

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Trump’s Fed Pick Owes $75,000 in Unpaid Federal Taxes

Stephen Moore, the conservative economist whom President Trump plans to nominate for a seat on the Federal Reserve, owes $75,000 in unpaid federal taxes, interest and penalties, according to court documents filed last year. A lien for $75,328.80 from the 2014 tax year was entered against Mr. Moore at the request of the federal government […]

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