Latest National taxes News

Child tax credit tussle reflects debate over work incentives

Oct. 23, 2021 00:59 AM EDT

WASHINGTON (AP) — To supporters of the child tax credit, there has always been an "aha moment" — the recognition that as little as a few hundred dollars a month could be life-changing. For Colorado Sen. Michael Bennet, it was several years ago when he was working as...

Deal on $2T Biden package, seems close but elusive

Oct. 23, 2021 00:15 AM EDT

WASHINGTON (AP) — A deal within reach, President Joe Biden and Congress’ top Democrats edged close to sealing their giant domestic legislation, though the informal deadline appeared to slip as they worked to scale back the measure and determine how to pay for it. ...

Deal seems near on $2T Biden package, though deadline slips

Oct. 22, 2021 21:54 PM EDT

WASHINGTON (AP) — A deal within reach, President Joe Biden and Congress’ top Democrats edged close to sealing their giant domestic legislation Friday, though the day's informal deadline appeared to slip as they worked to scale back the measure and determine how to pay for it. ...

Ex-Boston Grand Prix CFO pleads guilty to fraud, tax charges

Oct. 22, 2021 09:22 AM EDT

BOSTON (AP) — The former chief financial officer of the organization that tried to bring an IndyCar race to Boston has pleaded guilty to multiple fraud and tax evasion charges connected to the race and other business interests, and for improperly receiving almost $700,000 in pandemic relief...

Chinese tax agency investigating high-profile developer

Oct. 22, 2021 08:27 AM EDT

BEIJING (AP) — The Chinese government said Friday it is investigating possible tax evasion by a subsidiary of high-profile real estate developer SOHO China Ltd., the target of an aborted takeover attempt this year by Blackstone Group. The announcement comes amid a...

White House, Dems hurriedly reworking $2 trillion Biden plan

Oct. 21, 2021 22:54 PM EDT

WASHINGTON (AP) — The White House and Democrats are hurriedly reworking key aspects of President Joe Biden’s $2 trillion domestic policy plan, trimming the social services and climate change programs and rethinking new taxes on corporations and the wealthy to pay for a scaled-back...

Report: Tax evasion schemes cost treasuries $175 billion

Oct. 21, 2021 10:25 AM EDT

BERLIN (AP) — Elaborate tax evasion schemes have cost some of the world's major treasuries a total of at least 150 billion euros ($175 billion) in lost revenue over the past two decades, according to a report Thursday. The report coordinated by German outlet Correctiv...

Big changes in White House ideas to pay for $2 trillion plan

Oct. 20, 2021 20:17 PM EDT

SCRANTON, Pa. (AP) — In an abrupt change, the White House on Wednesday floated new plans to pay for parts of President Joe Biden’s $2 trillion social services and climate change package, shelving a proposed big increase in corporate tax rates though also adding a new billionaires' tax on...

McAuliffe, Youngkin now mum on tax return disclosures

Oct. 20, 2021 15:24 PM EDT

RICHMOND, Va. (AP) — The leading candidates for Virginia governor have gone quiet on commitments both previously made to disclose at least some information from recent tax returns before the Nov. 2 election. Neither the campaign of Democrat Terry McAuliffe nor that of...

Education funding on ballots in New Mexico cities’ elections

Oct. 19, 2021 15:32 PM EDT

SANTA FE, N.M. (AP) — Local governments across New Mexico are seeking to renew property taxes to pay for school buildings, computers and air ventilation systems even as school districts are slated to receive $900 million in federal pandemic aid. Ventilation upgrades are...