Latest National taxes News

German Interior Minister Horst Seehofer, left, and German Finance Minister Olaf Scholz, right, talk as they arrive for a meeting of the German federal parliament, Bundestag, at the Reichstag building in Berlin, Germany, Wednesday, Jan. 13, 2021. One topic of the meeting are the current developments of the new coronavirus pandemic in Germany. (AP Photo/Michael Sohn)

Germany's 2020 borrowing comes in well short of forecast

Jan. 19, 2021 8:19 AM EST

BERLIN (AP) — Germany borrowed 130.5 billion euros ($157.5 billion) last year as it loosened budget rules to help finance pandemic-related rescue and stimulus packages — a considerably smaller sum than was originally planned. After six years in the black, Germany resorted to running up new debt in...

People stroll on the Trocadero square to watch the Eiffel Tower lightings, Friday, Dec. 11, 2020 in Paris. (AP Photo/Francois Mori)

France's hopes lift as US freezes tariffs over tech tax

Jan. 13, 2021 5:21 AM EST

PARIS (AP) — France’s government breathed a sigh of relief Friday after the U.S. indefinitely delayed tariffs on French cosmetics and other goods designed as retaliation for a French tax on technology giants. The U.S. Trade Representative’s office said in a statement Thursday that it...

FILE - In this April 23, 2020 file photo, President Donald J.Trump's name is printed on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak in San Antonio.  The IRS said that after initial problems, it is getting more of the second round of relief payments to taxpayers. A number of people who filed their taxes with an online preparation service initially found that their economic impact payment did not make it to them directly.   (AP Photo/Eric Gay)

IRS gets more relief payments out after delays

Jan. 12, 2021 2:07 PM EST

The IRS said that after initial problems, it is getting more of the second round of relief payments to taxpayers. The government began distributing the payments, worth $600 per eligible adult and dependent, at the end of December. However, many people who filed their taxes with an online preparation service...

FILE - In this April 23, 2020, file photo, President Donald Trump's name is seen on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak, in San Antonio. A number of taxpayers who use tax preparation services, such as H&R Block and TurboTax, say their second relief payments were sent to the incorrect bank account. The IRS and the Treasury Department began issuing the Economic Impact Payments last week of Jan. 1, 2021.   (AP Photo/Eric Gay, File)

Some taxpayers find relief payments sent to wrong account

Jan. 5, 2021 6:17 PM EST

A number of taxpayers who use tax preparation services, such as H&R Block and TurboTax, say their second relief payments were sent to the incorrect bank account, forcing them to wait longer for their money. The IRS and the Treasury Department began issuing the Economic Impact Payments last week. The payment...

FILE - In this Oct. 14, 2010 file photo, musician Prince holds a news conference at The Apollo Theater announcing his

IRS says executors undervalued Prince's estate by 50%

Jan. 3, 2021 11:40 AM EST

MINNEAPOLIS (AP) — The ongoing controversy over the money left behind by Prince when he died without a will is heating up again after Internal Revenue Service calculations showed that executors of the rock star's estate undervalued it by 50%, or about $80 million. The IRS determined that Prince’s...

FILE - In this Dec. 15, 2020, file photo President-elect Joe Biden speaks at a drive-in rally for Georgia Democratic candidates for U.S. Senate Raphael Warnock and Jon Ossoff in Atlanta. (AP Photo/Patrick Semansky, File)

In Georgia, Biden's presidency meets early defining moment

Jan. 2, 2021 12:16 AM EST

ATLANTA (AP) — Usually it's a president's first midterm election that reorders a White House's political approach and priorities. For President-elect Joe Biden, his most defining congressional election is coming before he takes office. Two runoffs Tuesday in Georgia will decide which party controls the...

FILE - In this file photo dated Wednesday, Nov. 25, 2020, Britain's Chancellor of the Exchequer Rishi Sunak leaves Downing Street in London.  Treasury chief Sunak has committed to ending the widely unpopular tax on women’s sanitary products, but the change could only take effect Friday Jan 1, 2021, after Britain had finally left the economic orbit of the EU.(AP Photo/Kirsty Wigglesworth, FILE)

UK abolishes 'sexist' tax on women's sanitary products

Jan. 1, 2021 10:50 AM EST

LONDON (AP) — Britain on Friday became the latest country to abolish the so-called "tampon tax,” eliminating sales taxes on women's sanitary products. The move was widely praised by women's rights advocates as well as proponents of the country's departure from the European Union. Treasury chief...

Sen. Kelly Loeffler, R-Ga., left, stands with Sen. David Perdue, R-Ga., and Ivanka Trump, Assistant to the President, during a campaign rally, Monday, Dec. 21, 2020, in Milton, Ga. (AP Photo/John Bazemore)

Perdue, Loeffler find alliance with Democrats they attack

Dec. 29, 2020 5:21 PM EST

ATLANTA (AP) — President Donald Trump’s call to more than triple pandemic cash relief for individual Americans has scrambled political calculations made by Georgia’s two Republican senators in the closing week of their high-stakes runoff campaign. Sens. David Perdue and Kelly Loeffler...

FILE - This Wednesday, Feb. 13, 2019 file photo shows part of a 1040 federal tax form printed from the Internal Revenue Service website, in Zelienople, Pa. Health insurance shoppers who used tax credits to buy coverage in 2020 still have a few weeks left to ward off an unpleasant tax surprise next spring. (AP Photo/Keith Srakocic)

Insurance shoppers: Plan now to trim next spring's tax bill

Dec. 23, 2020 9:48 AM EST

An unpleasant tax surprise may be lurking next spring for some people who bought health insurance this year on the Affordable Care Act’s coverage marketplaces. The problem centers on income, or what shoppers think they will make. People can get help from the government to buy coverage, depending on their...

FILE - In this May 14, 2020, file photo Champagne is poured at a table where mannequins will provide social distancing at the Inn at Little Washington as they prepare to reopen their restaurant in Washington, Va. Stuffed into the new emergency relief package is a morsel that President Donald Trump has long had on the buffet of his economic wish list: restoring full tax breaks for restaurant business meals. (AP Photo/Steve Helber, File)

Writing off more of that 3-martini lunch is causing a stir

Dec. 22, 2020 7:08 PM EST

WASHINGTON (AP) — Stuffed into the new emergency relief package is a morsel that President Donald Trump has long had on the buffet of his economic wish list: restoring full tax breaks for restaurant business meals. But experts say it’s scant immediate help for an industry reeling from the pandemic,...