Kevin O'Leary Slams Inflation Reduction Act: Why The 'Shark Tank' Investor Says He's Going To A Funeral F

The U.S. Senate passed the Inflation Reduction Act in a 51-50 vote over the weekend. "Shark Tank" investor Kevin O'Leary says the bill is favorable for the EV names in his portfolio. "I'm very...

Carried interest provision is cut from Inflation Reduction Act. How this tax break works, and how it benefits...

Senate Democrats passed historic climate, healthcare and tax legislation on Sunday. The bill now heads to the House. An initial draft of the Inflation Reduction Act would have tweaked the taxation...

WH responds to concerns to how IRS funding could impact Americans

The Biden administration on Monday pushed back against concerns that an extra $80 billion in funding for the IRS that Democrats included in their latest health care and climate change spending...

Carried interest provision is cut from Inflation Reduction Act. How this tax break works, and how it benefits...

A proposed tax tweak to carried interest, compensation paid to private equity and hedge fund managers, didn't survive in the final Inflation Reduction Act.

Kevin O'Leary Slams Inflation Reduction Act: Why The 'Shark Tank' Investor Says He's Going To A Funeral F

The U.S. Senate passed the Inflation Reduction Act in a 51-50 vote over the weekend. "Shark Tank" investor Kevin O'Leary says the bill is favorable for the EV names in his portfolio. "I'm very...

Reconciliation bill includes nearly $80 billion for IRS including enforcement, audits: What that means for taxpayers

The Inflation Reduction Act allocates $79.6 billion to the agency over the next 10 years. More than half of the money is meant for enforcement, with the IRS aiming to collect more from corporate...

Ukraine seeks new IMF programme, hopes aid arrives in Nov-Dec

KYIV - Ukraine has formally requested a new programme from the International Monetary Fund and hopes to receive aid under the programme from November to December, Ukrainian Prime Minister Denys...

Exclusive-Stellantis Mexico unit okays independent union; U.S. trade probe to end

By Daina Beth Solomon MEXICO CITY - A Mexican unit of carmaker Stellantis expects to resolve a complaint from Washington in several days, it said after it agreed to recognize an independent...

Turkey offers 'a warehouse and bridge' for metals trade to Russia

By Ceyda Caglayan ISTANBUL - Western sanctions have given the Turkish metals sector a chance to serve as "warehouse and bridge", the head of an industry group said, citing increased interest from...

Factbox: Government measures to ease inflation pain

- Pandemic-related disruption to global supply chains and the knock-on effects of Russia's war in Ukraine are combining to push prices of energy, commodities and basic items higher. Below is a...

German finance minister draws up 14 billion eur relief plan

BERLIN - German Finance Minister Christian Lindner plans a 10.1 billion euro ($10.29 billion) relief package to help taxpayers in 2023 which he is set to present next week, the Spiegel news...

Not so fast: California's last nuke plant might run longer

LOS ANGELES (AP) — An aggressive push toward renewable energy has run headlong into anxiety over keeping the lights on in California, where the largest utility is considering whether to try to...

Stealing COVID aid

Billions in pandemic relief dollars were wasted or pocketed by scammers. How did that happen? Here's everything you need to know: Was COVID relief successful?  In many ways, yes. It helped prevent...

Confused about inherited IRA rules? Here’s what to know

Inherited IRAs are a gift to beneficiaries, but the rules surrounding distributions from these accounts are not. Beneficiaries must follow a 10-year rule for distributions, which began after the...

The Inflation Reduction Act, explained

Rep. Carolyn Maloney (D-NY) speaks during a news conference in September 2021 on the “billions of dollars taxpayers could have saved if Medicare was allowed to directly negotiate the price of...

GROVER NORQUIST: IRS benefits from Dem tax bill while taxpayers get hurt

We are in a recession. Inflation is raging at 9%. Our paychecks and life savings are worth less today than last year. What will Washington do to fix this? Democrats want to raise taxes, increase...

IRS rejects plan to speed up processing, despite massive paper backlog and delayed tax refunds

The National Taxpayer Advocate is escalating its fight for updated scanning technology that would automate the processing of handwritten tax returns. Despite drowning in a metaphorical flood, the...

Covid loans make UK taxpayers shareholders in cannabis oil firm

Future Fund scheme granted loans to eclectic range of companies, list from British Business Bank showsBritish taxpayers are now shareholders in a further 65 companies because of a government...

How Democrats' beefed-up IRS could hurt low-income Americans

The newest health care and climate spending bill from Democrats includes an $80 billion boost to the Internal Revenue Service that is intended to help the agency crack down on wealthy tax cheats....

Gavin Newsom’s Needling Of GOP Governors Will Be Paid For By Taxpayers

California Governor Gavin Newsom is free to use his campaign funds as foolishly or wisely as he sees fit. California taxpayers, however, will ultimately be forced to pay for Newsom's legislative...

Tougher IRS enforcement central to Dem economic package

WASHINGTON (AP) — After more than a decade of mostly losing out, the Internal Revenue Service may finally get the cash infusion it's long wanted in the economic package that Democrats are working...

IRS Expands Crypto Question on Tax Form

The Internal Revenue Service (IRS) has modified the crypto question asked on Form 1040, the tax form used by all U.S. taxpayers to file an annual income tax return. New Crypto Tax Question The...

I.R.S. Says Funding Won’t Mean More Audits for Middle-Income Americans

The I.R.S. says new funding won’t mean more audits for middle-income Americans. If it is given an additional $80 billion, the agency said, the money is expected to go toward efforts to crack down...

Indiana GOP lawmakers settle on $200 for tax rebate payments

INDIANAPOLIS (AP) — All Indiana taxpayers would be eligible for $200 rebate payments from the state’s surging budget surplus under an apparent deal reached Thursday among Republican...

Illinois gets inflation-relief tax break on school supplies

SPRINGFIELD, Ill. (AP) — Inflation means stocking up on pencils, notebooks, crayons and clothes for your kids’ return to school is more expensive this year, so Illinois state leaders on Thursday...

The Local Tax Break Many Retirees Don't Know About---but Should

Many local governments offer tax relief for seniors and others. The problem is that many taxpayers aren’t aware of it.

Monte dei Paschi seals deal with unions over job cuts

By Valentina Za MILAN -Italian state-owned bank Monte dei Paschi di Siena said it had reached an accord with unions to shed thousands of jobs, as it works towards commitments to cut costs agreed...

Democrats complicate the private equity tax loophole

Private equity investors were stunned last week when Sens. Joe Manchin and Chuck Schumer agreed to a giant reconciliation bill. Not only that Manchin got to yes on anything, but that he adopted...

Embryos With Heartbeat Qualify As Dependents On Georgia Taxes

Georgia taxpayers can now list embryos as dependents on their tax returns if there is a detectable human heartbeat (which can occur as early as six weeks). The dependent personal exemption is...

U.S. Congress office sees few tax breaks for EVs under Democratic plan

By David Shepardson and Joseph White - A proposal by U.S. Senate Democrats to put income, price and domestic content conditions on electric vehicle tax breaks could initially sharply curtail the...

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