Tag: Income Tax

Todd and Julie Chrisley Plead Not Guilty to Tax Evasion and Bank Fraud

Todd and Julie Chrisley, a wealthy Southern couple who project a public image as a God-loving, straight-talking husband and wife on the reality TV show “Chrisley Knows Best,” are now facing criminal charges. This week, a federal grand jury in Atlanta indicted the couple on charges of tax evasion, wire fraud and hiding income from […]

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California Requires Trump Tax Returns Under New Election Law

LOS ANGELES — President Trump will not be eligible for California’s primary ballot unless he releases his tax returns, under a new law signed by Gov. Gavin Newsom on Tuesday. The law requires that all presidential candidates release their tax returns in order to be placed on the ballot for the state’s primary next year, […]

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State and Local Taxes Are Worsening Inequality

Economic inequality is on the rise in Illinois, and the state government is part of the problem. Illinois taxes low-income families at much higher rates than high-income families, asking the most of those who have the least. Low-income households in Illinois pay about 14 cents in state and local taxes from every dollar of income, […]

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Foreign-Owned Banks’ Results Could Sweeten Further Under Tax Law

WASHINGTON — President Trump’s tax cuts have been very good to big banks. For foreign-owned banks, they could get even better. The cuts allowed America’s largest banks to save an estimated $16 billion collectively in taxes last year, a windfall that helped those firms reward shareholders through stock buybacks and dividend payments. The savings flowed […]

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As Nations Look to Tax Tech Firms, U.S. Scrambles to Broker a Deal

WASHINGTON — For most of the 21st century, wealthy nations have engaged in a race to the bottom on corporate taxes, cutting rates in an effort to poach business activity across borders. Very quickly, that script has flipped. Developed countries are now moving to impose new taxes on technology companies, like Facebook and Google, that […]

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Trump’s Tariffs Could Nullify Tax Cut, Clouding Economic Picture

WASHINGTON — President Trump’s tax cuts provided a temporary jolt to the United States economy by putting more money into taxpayers’ pockets. The tariffs that Mr. Trump has grown so fond of may have the opposite effect. Two new analyses show that the tariffs Mr. Trump is using to punish China, Mexico, Europe and other […]

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New York Can Tell Congress Lots About Trump’s Taxes

Congress will soon have access to a treasure trove of information about President Trump’s taxes. It just needs to ask New York. A new state law, which sailed through the New York Legislature and now awaits the signature of Gov. Andrew Cuomo, would allow the heads of Congress’s tax-writing committees to request a public official’s […]

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