Latest Janet Yellen News
Treasury proposes rule to prevent large corporations from evading income taxes
WASHINGTON (AP) — The Biden administration on Thursday proposed a new rule that would require the largest U.S. companies to pay at least 15% of their profits in taxes. Treasury Department officials estimate that about 100 of the biggest corporations — those with at least $1...
Trump said fixing child care would not be very expensive. Here are price tags for other proposals
Asked recently how he would bring down the high cost of child care, former President Donald Trump said doing so would be relatively “not very expensive” — at least, not compared with revenue from tax hikes he would impose on foreign goods. Economists are skeptical tariffs would...
Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers
WASHINGTON (AP) — The IRS has collected $1.3 billion from high-wealth tax dodgers since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden's signature climate, health care and tax package signed into law in 2022. ...
Yellen says ending Biden tax incentives would be 'historic mistake' for states like North Carolina
WASHINGTON (AP) — Treasury Secretary Janet Yellen warned voters in the battleground state of North Carolina that they could lose jobs if Republicans weaken a signature Biden administration law that encourages investments in manufacturing and clean energy. Yellen said that...
New US rules try to make it harder for criminals to launder money by paying cash for homes
REHOBOTH BEACH, Del. (AP) — The Treasury Department has issued regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate. Under rules finalized Wednesday, investment advisers and real estate professionals will be required to...
Today in History: August 13, East Germany closes Berlin border
Today is Tuesday, Aug. 13, the 226th day of 2024. There are 140 days left in the year. Today in history: On Aug. 13, 1961, on what would become known as Barbed Wire Sunday, East Germany sealed the border between Berlin’s eastern and western sectors before building a...
G20 finance ministers agree to work toward effectively taxing the super-rich
RIO DE JANEIRO (AP) — Finance ministers from leading rich and developing nations agreed Friday to strive toward effectively taxing the super-rich, a joint ministerial declaration said. “With full respect to tax sovereignty, we will seek to engage cooperatively to ensure that...
G20 finance ministers discuss a global tax on the super-rich
RIO DE JANEIRO (AP) — Finance ministers from leading rich and developing nations gathered in Rio de Janeiro on Thursday for a two-day meeting to discuss a global tax on the super-rich, a top priority for Brazil, which holds the presidency. According to the proposal before the Group...
IRS collects milestone $1 billion in back taxes from high-wealth taxpayers
WASHINGTON (AP) — The IRS announced Thursday that it has collected $1 billion in back taxes from high-wealth tax cheats — a milestone meant to showcase how the agency is making use of the money it received as part of the Biden administration's signature climate, health care, and tax package...
U.S. to expand control of land sales to foreigners near 56 additional military sites
WASHINGTON (AP) — The U.S. wants to expand a Treasury committee's jurisdiction to review land sales near U.S. military sites where foreigners are the buyers. New Treasury rulemaking would expand the U.S. Committee on Foreign Investment in the United States' powers to review land...
