Government taxation and revenue

Elon Musk attends the 2022 Met Gala at the Metropolitan Museum of Art.Angela Weiss | AFP | Getty ImagesPresident Joe Biden drew loud cheers during his State of the Union address Tuesday night when he proposed a new tax on the rich."Pass my…

President Joe Biden delivers the State of the Union address on March 1, 2022.Win Mcnamee | Getty ImagesPresident Joe Biden will again call for a "billionaire minimum tax" during his State of the Union address on Tuesday.While details…

dmphoto | E+ | Getty ImagesTax season is underway, and there's been increased scrutiny of the IRS as it starts deploying part of the nearly $80 billion in funding approved for the agency by Congress in August. While Treasury Secretary Janet…

Jeffrey Coolidge | Photodisc | Getty ImagesBlack Americans are roughly three to five times more likely to face an IRS audit than other taxpayers, according to a new study.While there isn't evidence of explicit discrimination from the IRS or…

Morsa Images | Digitalvision | Getty ImagesIf you worked from home in 2022, you may wonder if you qualify for the home office deduction, which offers a tax break for part of your home expenses.Remote work was an option for 10.6% of workers…

As tax season begins, you may be eager to file your tax return for a faster refund and to check the annual task off your list.For most filers, the tax deadline is April 18, and the IRS urges Americans to prepare before filing to avoid…

A worsening macroeconomic climate and the collapse of industry giants like FTX and Terra have weighed on bitcoin's price this year.STR | Nurphoto via Getty ImagesCrypto losses can offset investment gainsOne of the silver linings of…

John Miller | iStock | Getty ImagesA group of House Republicans are revisiting the Fair Tax Act, which would replace certain federal levies with a national sales tax and decentralize the IRS.While the plan may not get a floor vote and…

Bill Oxford | E+ | Getty ImagesIf you're banking on a tax refund, it may be "somewhat lower" than last year's payment, according to the IRS.Typically, you can expect a federal refund if you've overpaid yearly taxes or withheld more than…

Maskot | Maskot | Getty ImagesGetting a $7,500 tax break for the purchase of a new electric vehicle will likely get harder in a few months — meaning prospective buyers who want the financial incentive may wish to speed up their timeline.  …