News
Politico | Tax shock ahead for wealthy
The wealthy may be in for a bit of a jolt this tax season. That’s because Democrats have pushed through several new taxes on the well-to-do — many coming online this year — making the top tax bite steeper than advertised. By how much is a matter of opinion, but some experts say the true top rate is about 45 percent — 5 percentage points higher than the usual sticker price or higher still depending on what’s included in the mix.
FOX Business | 55 Tax Breaks Expired Last Year, What Boomers Need to Know
There is a long list of tax write offs Uncle Sam allows when it comes time to filing your tax returns, but it can be hard to keep up with them all. Just last week, 55 tax breaks affecting everything from taxes on charitable deductions to helping grandkids with college were allowed to expire.
Econ Comments & Analysis
Washington Times | Stop tax breaks for special interests, lower everyone’s bill
It’s an annual ritual. Congress lets a package of tax breaks expire at the end of the year in their mad dash to leave Washington for the holidays. Now back in town, they must decide whether to renew the credits and deductions retroactively. In many, perhaps most, of the 55 tax breaks this year, they shouldn’t.
Fortune | IRS top cop says the agency is too hard on offshore tax dodgers
Cuddly Beanie Babies have become a bizarre icon of tax horror ever since their billionaire American creator, Ty Warner, was socked last September with jaw-dropping fines for not disclosing his secret Swiss bank accounts.
NBER | Disentangling Financial Constraints, Precautionary Savings, and Myopia: Household Behavior Surrounding Federal Tax Returns
We explore household consumption surrounding federal tax returns filings and refunds receipt to test various theories of consumption.
