Tag: treasury department

Enhanced Child Tax Credits of up to $3,600 per child will begin this week: ‘I’m going to be able to do a lot’

Margarita Rodriguez is an early riser, waking at 3 a.m. to prepare for her 4:30 a.m. shift at a Passaic, N.J. delicatessen. But on Thursday,...

Yellen keeps up push for greater U.S. climate-change regulation, rebuffing concerns of Republicans

Treasury Secretary Janet Yellen said Sunday she will lead an effort across U.S. financial regulators to better scrutinize the potential of climate-change risk, part of President Joe...

U.S. Wins International Backing for Global Minimum Tax

The U.S. has won international backing for a global minimum rate of tax as part of a wider overhaul of the rules for taxing international...

Is it OK to cheat on your taxes? The IRS polled Americans for an answer

It would be tough to find people who enjoy paying taxes, but it’s easy to find people who say it’s their duty as Americans to...

How to claim the child tax credit if you don’t file taxes — payments start July 15

Weeks ahead of the first monthly payment to millions of families under the expanded Child Tax Credit, federal officials are trying to make sure as...

IRS investigating leak of tax returns from Elon Musk, Warren Buffett and other billionaires

Hours after an investigative news outlet said it obtained years of tax returns showing that billionaires including Amazon AMZN, +1.35% founder Jeff Bezos and Tesla...

Yellen says financial literacy can help create a ‘more equitable economy’ — and Americans appear to be listening

The pandemic reaffirmed a hard lesson that lives and plans can change with blistering speed — and not always for the better. Millions of workers...

Momentum Builds Behind U.S. Proposal for Minimum Corporate Tax

Germany and France welcomed the Biden administration’s new acceptance of a minimum corporate tax rate as low as 15%, possibly smoothing the way to a...

American families will finally get their Child Tax Credit money — here’s when the first payment will arrive

More than two months after federal lawmakers boosted the Child Tax Credit payout and broadened eligibility as one part of its $1.9 trillion stimulus bill,...

From stimulus checks and bitcoin to mask write-offs — read this checklist before the tax filing deadline on May 17

If taxes are a certainty in life, so are the people who wait until the last minute to file. Well, that last minute is getting...

One culprit in the IRS backlog of 1.7 million tax returns? Broken printers and copiers, watchdog report says

Long-languishing 2019 tax returns and tardy tax refunds are being held up partly because of a shortage of working printers and copiers at Internal Revenue...

Expecting another refund after the IRS calculates the $10,200 unemployment tax break? You might want to do more than just wait

The Internal Revenue Service says it will automatically readjust tax returns and issue extra refunds for people who already filed their taxes before a valuable...

Taxpayers won’t have to file extra paperwork to get this valuable unemployment tax break, IRS confirms

The Internal Revenue Service has an important message for people who already filed their 2020 taxes before a valuable tax break became law. Don’t do...

Crushing dissent: The Saudi kill team behind Khashoggi’s death

Seven Saudis involved in the killing of journalist Jamal Khashoggi belonged to an elite unit charged with protecting Crown Prince Mohammed bin Salman, according to...

Need to report bitcoin trades on your taxes? Here are 5 things to know first

Treasury Department Secretary Janet Yellen is not big on bitcoin, a point she reiterated recently when she called the digital currency speculative and “inefficient.” That...

IRS chief says agency is having ’15 minutes of fame’ — here’s how he’s hoping to make the most of it

“ I think we’re living in our 15 minutes of fame. And I think we’re living in, for us, a bipartisan environment. ” — Internal...

Counting on a tax refund or stimulus check? 5 things to know before filing your taxes

This year’s tax season will start against a very different backdrop. Approximately 18 million people are on some form of unemployment assistance and savings rates...

Here are 3 lessons from the Carrefour mess for M&A buyers eyeing European preys

Canadian convenience store operator Couche Tard won’t acquire French retail giant Carrefour, as could have been predicted just hours after the two groups announced they...

When will I get my second stimulus check? Mnuchin says they’ll arrive ‘very fast’

Now that lawmakers have come to an agreement on an almost $900 billion rescue package, the government is about to write a whole new round...

‘It is just a road that could take several years.’ Prospects for a quick privatization of Fannie Mae and Freddie Mac dim following Mnuchin comments

Treasury Secretary Steven Mnuchin indicated that he wouldn’t let Fannie Mae and Freddie Mac exit conservatorship if they weren’t well capitalized enough. Photo by Mandel...

‘She can start repairing the damage in economic diplomacy’ — analysts react to Yellen as Biden’s Treasury secretary

Economists and other analysts were sounding off Monday following news that President-elect Joe Biden has selected former Federal Reserve Chairwoman Janet Yellen to lead the...

Mnuchin pulls plug on some coronavirus emergency lending programs over Fed’s objections

Secretary of the Treasury Steven Mnuchin, left, and Federal Reserve Board Chairman Jerome Powell. AFP/Getty Images Treasury Secretary Steven Mnuchin on Thursday that he won’t...

Can Trump write off $70K in haircuts? IRS allows tax deductions for highly unusual expenses — including fertility treatment, vasectomies and rehab

The Internal Revenue Service is not as punitive on tax write-offs as some people might think. President Donald Trump paid just $750 in federal taxes...

Trump eyes executive orders after stalemate on coronavirus relief but doesn’t pull trigger

President Donald Trump on Friday evening signaled he is close to issuing executive orders to make an end run around a stalled stimulus package with...