Latest National taxes News

Justices to take up dispute over subpoenas for Trump records

Dec. 14, 2019 12:18 AM EST

WASHINGTON (AP) — The Supreme Court said Friday it will hear President Donald Trump's pleas to keep his tax, bank and financial records private, a major confrontation between the president and Congress that also could affect the 2020 presidential campaign. Arguments will take place in late March, and the...

How US-China trade deal achieved a little but left out a lot

Dec. 13, 2019 5:46 PM EST

WASHINGTON (AP) — The limited trade deal that the Trump administration and Beijing announced Friday means Americans will avoid a holiday tax increase on imported toys, clothing and smartphones. U.S. farmers can sell more soybeans and pork to China. And American companies should face less pressure to hand...

Virginia city says Michael Vick owes $70K in unpaid taxes

Dec. 12, 2019 8:11 PM EST

HAMPTON, Va. (AP) — Former football star Michael Vick owes tens of thousands of dollars in unpaid taxes on luxury cars that he owned in Virginia, officials said. Officials said Vick owes the city of Hampton about $70,000, the Daily Press of Newport News reported Thursday. Vick lived in Virginia after...

US budget deficit rises to $209 billion in November

Dec. 11, 2019 2:39 PM EST

WASHINGTON (AP) — The U.S. budget deficit rose by 2% last month to $209 billion, another step in a journey back toward $1 trillion-a-year budget shortfalls. The Treasury Department reported Wednesday that the federal government took in $225 billion in tax and other revenue but spent a record $434 billion...

Report: black lung funding cut will cost taxpayers billions

Dec. 10, 2019 10:44 AM EST

LOUISVILLE, Ky. (AP) — A cut to the tax coal companies pay to fund a trust for sick miners will cost taxpayers at least $15 billion by 2050, according to a new report from a national watchdog group. An excise tax rate on mined coal that funds the Black Lung Disability Trust Fund expired at the beginning of...

Labour's Jeremy Corbyn: Redistribute UK wealth, tax the rich

Dec. 10, 2019 8:30 AM EST

LONDON (AP) — If Labour Party leader Jeremy Corbyn wins Britain's general election on Thursday, he’s promising a remix of British society, with a strong emphasis on raising the lot of Britain’s disenfranchised and forcing tax-dodging corporations and wealthy individuals to pick up part of the...

Man who argued religious objection to tax filing guilty

Dec. 9, 2019 4:25 PM EST

PORTLAND, Ore. (AP) — U.S. District Chief Judge Michael W. Mosman has found an Oregon man guilty of four counts of willfully failing to file tax returns during an unusual second trial with no witnesses, no jury and a set of agreed-upon facts submitted to the court. The Oregonian/OregonLive reports Michael...

Japan economy marks 4th straight quarter of expansion

Dec. 8, 2019 11:55 PM EST

TOKYO (AP) — Japan's economy expanded at a faster than earlier estimated annual rate of 1.8% in July-September, powered by stronger consumer purchases and corporate investment ahead of an Oct. 1 tax hike. However that tax increase is expected to hurt growth in coming months. The data issued Monday were a...

Analysis: Louisiana has sharply divided government next term

Dec. 8, 2019 4:00 PM EST

BATON ROUGE, La. (AP) — When the new term for Louisiana's governor and lawmakers begins in January, state government will be more sharply split than at any other time in recent history, raising questions about whether compromise or division will mark the four-year period. Democratic Gov. John Bel Edwards...

Tax credits to improve affordable housing in Maine

Dec. 8, 2019 1:50 PM EST

WATERVILLE, Maine (AP) — An independent state authority that deals with housing issues in Maine says it has been awarded nearly $4 million in federal low-income housing tax credits for several projects in the state. MaineHousing director Daniel Brennan says the tax credits are an important way to spur...