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Republicans, who hold narrow majorities in the House of Representatives and Senate, have spent weeks trying to agree on a plan to cover the cost of extending the tax cuts -- which nonpartisan ...
The biggest piece of tax legislation passed during Donald Trump's presidency was the 2017 Tax Cuts and Jobs Act (TCJA), which increased the standard deduction, lowered corporate and estate tax ...
Donald Trump’s election with Republican House and Senate majorities has put the Internal Revenue Service back in the spotlight. The agency lost $20 billion in funding under the latest deal to ...
A host of tax cuts introduced under former president Donald Trump's Tax Cuts and Jobs Act of 2017 (TCJA) are set to expire at the end of 2026. Notably, the opportunity zones (OZs) economic ...
Tax cuts that went into effect during the Trump administration are due to expire at the end of 2025, which isn't exactly right around the corner but isn't in the far-distant future, either. A lot ...
Many of the provisions of the tax bill are set to expire in 2025, and second-time President-elect Trump spent a large part of his 2024 to retake the presidency by promising to extend the 2017 tax ...
Significantly, it also cut the highest tax rate from 39.6% to 37% and applied to it those earning over $500,000 a year, rather than around $427,000 (and $600,000 for couples, up from around $480,000).
Castaneda added that proposed tax cuts by Trump may have varying effects on various income levels, highlighting that one of the main criticisms leveled at these tax cuts is that they mostly help ...