Taxes

This version of Taxes - Business and Economy | NBC News Clone was adapted by NBC News Clone to help readers digest key facts more efficiently.


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71d ago

GOP Sen. Jim Justice agrees to pay $5 million in back taxes after DOJ lawsuit

The West Virginia senator agreed to pay the amount shortly after the Justice Department sued him and his wife over unpaid taxes from 2009.
Jim Justice
Jim Justice
105d ago

Tax brackets are changing. See how much you'll owe starting next year.

The IRS has made its annual inflation adjustments.
IRS 1040 Individual Income Tax forms.
IRS 1040 Individual Income Tax forms.

IRS to furlough nearly half its workforce as shutdown drags on

The move comes a week before a payment deadline for taxpayers who received extensions on their 2024 filings.
The Internal Revenue Service Building in Washington.
The Internal Revenue Service Building in Washington.

Rhode Island's 'Taylor Swift Tax' on vacation homes of the wealthy is spreading to other states

State governments see revenue, but real estate brokers say they're targeting taxpayers who already contribute the most.
Image: People walk past a house owned by Taylor Swift in the village of Watch Hill in Westerly, R.I.
Image: People walk past a house owned by Taylor Swift in the village of Watch Hill in Westerly, R.I.
176d ago

Trump's tax law will mostly benefit the rich, while leaving poorer Americans with less, CBO says

The Congressional Budget Office estimates that the 10% of poorest Americans will lose roughly $1,200 a year, while the richest 10% will see their income increase by $13,600.
Medicaid protest.
Medicaid protest.
179d ago

Economics

Economics

Trump removes IRS boss, Treasury Secretary Bessent takes over for now

Billy Long, who was sworn in just under two months ago, was already the sixth person to hold the job this year.
Billy Long.
Billy Long.

Sen. Josh Hawley introduces bill to send tariff rebate checks to Americans

First to NBC News: Hawley pledged to sponsor legislation after President Donald Trump expressed interest in sending out rebate checks last week.
AI Hearing
AI Hearing

IRS says churches can endorse political candidates without losing tax exemptions

The agency's agreement in a court filing formally reverses a decades-old provision of the tax code, but the motion would need to be approved by a judge.
Internal Revenue Service building
Internal Revenue Service building

Social Security Administration sends misleading email lauding Trump's new tax cuts law

The emails say nearly 9 in 10 Social Security beneficiaries won't pay income taxes on their benefits in the future. But the Trump tax law did not directly address Social Security.
A Social Security Administration office in Washington, D.C.
A Social Security Administration office in Washington, D.C.
215d ago

Live Updates

Live Updates

House passes GOP megabill and sends it to Trump; Hakeem Jeffries delays vote with record-breaking floor speech

The bill cleared a key hurdle early this morning after the president and House Speaker Mike Johnson persuaded a group of Republican holdouts to change their votes.
GOP Resistance Softens As Trump Presses House On Tax Package
GOP Resistance Softens As Trump Presses House On Tax Package
216d ago

Live Updates

Live Updates

House advances Trump agenda bill, setting up a final vote

A group of Republican holdouts changed their votes to allow the package to clear a key procedural hurdle.
President Trump Hosts One Big Beautiful Event At White House
President Trump Hosts One Big Beautiful Event At White House
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