Latest National taxes News

Overrun national forests prompt action from US Congress

Jun. 20, 2021 10:11 AM EDT

DENVER (AP) — A few years ago, the U.S. Forest Service sat down with Eagle County officials and delivered some bad news: The federal agency was short-staffed and would be closing campgrounds in the mountainous county that includes Vail, where outdoor recreation is king. ...

As tax changes loom, farmers worry about the next generation

Jun. 19, 2021 09:16 AM EDT

SHARPSVILLE, Pa. (AP) — Michael Kovach got into the farming business 13 years ago with the purchase of a 107-acre farm in Mercer County after retiring from the oil and gas industry at 39. “I’ve worked too hard on this piece of ground to really even consider the...

Hit by a ransomware attack? Your payment may be deductible

Jun. 19, 2021 07:23 AM EDT

WASHINGTON (AP) — As ransomware attacks surge, the FBI is doubling down on its guidance to affected businesses: Don't pay the cybercriminals. But the U.S. government also offers a little-noticed incentive for those who do pay: The ransoms may be tax deductible. The IRS...

Biden objects to raising gas tax to pay for infrastructure

Jun. 18, 2021 17:54 PM EDT

WASHINGTON (AP) — The White House made clear Friday that President Joe Biden was opposed to letting the federal gasoline tax rise at the rate of inflation to help pay for an infrastructure package that a bipartisan group of 21 senators is trying to craft. The gas tax...

Missouri risks Medicaid funding over contraceptive fight

Jun. 17, 2021 18:18 PM EDT

JEFFERSON CITY, Mo. (AP) — Missouri is at risk of losing $4.5 billion in tax revenue and federal funding for Medicaid because of a fight between lawmakers over contraceptives. At issue is a state tax on hospitals, doctors and other health care providers that is used to...

Dems eye $6T plan on infrastructure, Medicare, immigration

Jun. 17, 2021 17:33 PM EDT

WASHINGTON (AP) — Democrats are eyeing a $6 trillion infrastructure investment plan that goes far beyond roads and bridges to include core party priorities, from lowering the Medicare eligibility age to 60 and adding dental, vision and hearing benefits to incorporating a long-running effort...

Report: Income losses let Manhattan DA candidate avoid taxes

Jun. 17, 2021 00:36 AM EDT

NEW YORK (AP) — Manhattan district attorney candidate Tali Farhadian Weinstein and her husband, a hedge fund manager, paid no federal income taxes in four recent years because they reported negative income from investment losses or used deductions to reduce their bill, ProPublica reported...

Bipartisan infrastructure group swells to 21 senators

Jun. 16, 2021 20:11 PM EDT

WASHINGTON (AP) — A bipartisan senators’ group working on a $1 trillion infrastructure compromise more than doubled in size to 21 members Wednesday, a key threshold that gives momentum to their effort as President Joe Biden returns from overseas at a pivotal time for his big legislative...

Yellen: administration is watching inflation closely

Jun. 16, 2021 13:14 PM EDT

WASHINGTON (AP) — Treasury Secretary Janet Yellen assured Congress that the recent jump in inflation is being monitored very carefully by the Biden administration, but said again that any increase will prove temporary. Testifying about Biden's $6 trillion budget...

Germany buys Dubai asset data in fight against tax evasion

Jun. 16, 2021 08:05 AM EDT

BERLIN (AP) — Germany's finance minister has ordered the purchase of data on Germans with assets in Dubai as part of efforts to combat tax evasion, following similar purchases by regional authorities of data from Switzerland in the past decade. The Finance Ministry said...