• Will Ancient IRS Technology Eat Your Tax Refund?

    By Michael Rainey

    An essential piece of software involved in processing millions of tax returns for the IRS is “old enough to be a grandparent,” reports Nextgov , and officials are worried about what would happen if...

  • Chart of the Day: US Household Income

    By Michael Rainey

    The Congressional Budget Office released a new report Monday on the distribution of income in the U.S. Ignoring means-tested transfers and federal taxes, the average household income in 2014 was $19,...

  • Democrats’ New Weapon in the Tax Wars: Interactive Maps

    By Michael Rainey

    The political battle over the effects of the Republican tax cuts is heating up, with Democratic lawmakers on the Joint Economic Committee releasing a set of interactive maps Monday designed to show...

  • Minor League baseball players stretch in Maryland before game

    Tax Bill Throws Wicked Curve at Pro Sports Teams

    By Michael Rainey

    Thanks to a 1967 ruling from the IRS, professional sports franchises have made trades without worrying about taxes. Under the rule, player contacts were swapped as “like-kind property,” a tax-free...

  • A Withering Take on the New Pass-Through Tax Rules

    By The Fiscal Times Staff

    Daniel Shaviro , a tax law professor at New York University, published an analysis of the new U.S. rules for pass-throughs, and the abstract for the paper is just scorching: "The pass-through rules...

  • U.S. Democratic congressional candidate Conor Lamb speaks during his election night rally in Canonsburg, Pennsylvania

    The GOP Tax Message May Have Backfired in Pennsylvania

    By Michael Rainey

    Republicans were banking on their $1.5 trillion tax cut to give them a boost in the 2018 elections, but that isn’t how Tuesday’s special election in Pennsylvania's deep-red 18th congressional...

  • Global Economy Is Booming, but Beware ‘Excessively Pro-Cyclical’ Policies

    By Michael Rainey

    The Organization for Economic Cooperation and Development is feeling pretty optimistic these days, saying Tuesday that global growth continues to strengthen this year and next, with investment and...

  • The Old Will Outnumber the Young in the US by 2035

    By The Fiscal Times Staff

    By 2030, all Baby Boomers will be older than 65, meaning that one in five U.S. residents will be of retirement age, the Census Bureau reports . And by 2035, seniors will outnumber children for the...

  • Waste, Waste, Glorious Waste

    Monthly Deficit Hits a 6-Year High

    By Michael Rainey

    The federal government’s budget deficit rose to $215 billion in February, the largest monthly deficit since 2012. The shortfall was driven by both higher spending and lower revenues. Government...

  • Are Wages Increasing in the Wake of the Tax Cuts?

    By The Fiscal Times Staff

    Are wage gains picking up or just puttering along? According to Ben Casselman of the The New York Times, that’s a hard a hard question to answer, due in large part to poor quality data that that is...

Taxes Directory

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