Latest National taxes News

West Virginia weighs income tax cut to stem population loss

Apr. 09, 2021 16:20 PM EDT

CHARLESTON, W.Va. (AP) — With West Virginia about to lose another congressional seat because of steady population decline, some Republican lawmakers are convinced a massive income tax cut is the key to reversing the trend. But figuring out how to do that without harming the state's most...

Editorial Roundup: US

Apr. 08, 2021 00:32 AM EDT

Excerpts from recent editorials in the United States and abroad: ___ April 7 The Boston Globe on ‘vaccine passports’: A traveler shows up at an airline gate, claiming that she’s been fully vaccinated...

G20 working for deal on international corporate tax by July

Apr. 07, 2021 22:32 PM EDT

MILAN (AP) — Italy’s finance minister said Wednesday that Group of 20 advanced economies hope by a ministerial meeting in July to have reached an agreement on international taxation, an issue being pressed by U.S. Treasury Secretary Janet Yellen. While international...

Biden open to compromise on infrastructure, but not inaction

Apr. 07, 2021 21:52 PM EDT

President Joe Biden drew a red line on his $2.3 trillion infrastructure plan Wednesday, saying he is open to compromise on how to pay for the package but inaction is unacceptable. The president turned fiery in an afternoon speech, saying that the United States is failing...

Major economies support $650 billion boost in IMF resources

Apr. 07, 2021 18:28 PM EDT

WASHINGTON (AP) — Finance officials of the world’s major economies on Wednesday agreed on a proposal to boost the resources of the International Monetary Fund by $650 billion as a way to provide more support to vulnerable countries struggling to deal with a global pandemic. ...

Legislature votes to bolster unemployment insurance system

Apr. 07, 2021 18:10 PM EDT

Emergency measures to help struggling businesses pay less in unemployment insurance taxes while simultaneously granting more funding to the unemployed were voted out of the Maryland Legislature last week and await signature from Gov. Larry Hogan, R. Raising from $50 to...

Senate gives Biden a big tool to work around GOP filibuster

Apr. 07, 2021 17:30 PM EDT

WASHINGTON (AP) — With a powerful new tool, Senate Majority Leader Chuck Schumer has fresh options for potentially advancing President Joe Biden’s infrastructure package and other priorities past Republican obstruction in the 50-50 split Senate. Republicans still...

Ex-state senator enters innocent plea on federal tax charges

Apr. 07, 2021 16:58 PM EDT

CHICAGO (AP) — A former Illinois state senator pleaded not guilty Tuesday to federal charges of lying on personal income tax reports and failing to file tax returns for her lobbying and consulting firm. Annazette Collins entered the plea in U.S. District Court in...

New Mexico signs family tax credit and 99 other bills

Apr. 07, 2021 16:08 PM EDT

SANTA FE, N.M. (AP) — Gov. Michelle Lujan Grisham on Tuesday signed into law a measure that supporters are billing as the most progressive shift in the state’s tax structure in years. It’s one of 100 bills the governor has signed so far this week ahead of a Friday...

AGs from Kentucky, Tennessee sue over stimulus tax rule

Apr. 07, 2021 14:40 PM EDT

FRANKFORT, Ky. (AP) — The Republican attorneys general of Kentucky and Tennessee have added their voices to those in several other states who are objecting to a provision in the $1.9 trillion pandemic aid plan that bars states from using relief money to offset tax cuts. ...