• Does the IRS Need a Bigger Budget?

    By Michael Rainey

    The IRS is receiving an extra $320 million to help cover the costs of implementing the Republican tax overhaul, funds that can be used over the next 18 months to assist taxpayers, revise hundreds of...

  • A general view of the U.S. Internal Revenue Service (IRS) building in Washington

    Spending Bill Includes $320 Million for IRS to Implement Tax Law

    By Michael Rainey

    A frequent target of Republican scorn, the IRS has seen its budget cut significantly in recent years. But the spending deal for 2018 boosts the agency’s budget by $196 million compared to 2017, for a...

  • 22. Construction Superintendent

    Who Benefits from ‘Opportunity Zones’?

    By Michael Rainey

    Governors have until today to nominate “opportunity zones” that are intended to bring investment capital and jobs to low-income communities in their states. The GOP tax bill established rules for the...

  • Will Ancient IRS Technology Eat Your Tax Refund?

    By Michael Rainey

    An essential piece of software involved in processing millions of tax returns for the IRS is “old enough to be a grandparent,” reports Nextgov , and officials are worried about what would happen if...

  • Chart of the Day: US Household Income

    By Michael Rainey

    The Congressional Budget Office released a new report Monday on the distribution of income in the U.S. Ignoring means-tested transfers and federal taxes, the average household income in 2014 was $19,...

  • Samsung washing machines are seen in a store in Singapore

    What Trump Is Risking by Imposing Tariffs

    By The Fiscal Times Staff

    Ed Yardeni of Yardeni Research says President Trump’s protectionism is cause for concern: "Too bad that Trump is starting to stir up a hornets’ nest over trade. That man just doesn’t know when to...

  • Why Tax Cuts for Health Care Companies Won’t Benefit Patients

    By The Fiscal Times Staff

    The tax cuts passed in December will drop billions of dollars on the bottom lines of U.S. businesses, and most of that money is expected to end up in the pockets of investors through dividends and...

  • Tax Cuts May Not Be Enough for the GOP in 2018

    By Michael Rainey

    Republicans are worried that a tax cut that puts more money in voters’ pockets may not be enough to overcome President Trump’s low approval ratings come November. The party is nervously watching the...

  • New Budget Projections Show a Rising Tide of Red Ink Ahead

    By Michael Rainey

    The Congressional Budget Office won’t release new budget projections that include the effects of the President Trump’s tax overhaul until April, but on Friday the deficit hawks at the Committee for a...

  • U.S. President Trump sits at his desk before signing bills at the White House in Washington

    Why the GOP Tax Cuts Could Cost Even More Than Expected

    The Republican tax overhaul will decrease government revenue and increase the deficit by nearly $1.5 trillion over 10 years before accounting for any offsetting growth effects, according to estimates...

Taxes Directory

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