Tax

The Internal Revenue Service is trying to help tax filers prepare for next year. In the light of the recent tax overhaul, it’s launching its new withholding calculator that will help people check if they are having too much or too little held back from their paychecks for taxes.  Click the audio player above for […]

Now that the $1.5 trillion tax overhaul has been signed into law, the real fun begins for accountants. They’re scrambling to understand the legislation, which runs more than 1,000 pages and includes fundamental changes to the corporate tax rate, the standard deduction and tax brackets for individual filers. CPAs and tax lawyers around the nation […]

President Donald Trump has a new trade decision on his plate: whether to impose tariffs on imported washing machines. The International Trade Commission has recommended a 50 percent tax on some foreign manufacturers. This is the type of case with huge political leeway for the president, and other industries seeking protection are watching closely.  Click […]

The stock market has surged for much of the last year, and the president — like all presidents — is trying to take credit. Fair enough. But last night, he suggested the stock market can help fix the country’s national debt problem. Which got a lot of people scratching a lot of heads. Is there even any […]

Cook County, Illinois, home to Chicago, passed a penny-per-ounce tax on soda late last year. The driving force was raising revenue in a state with deep budget woes. But legal challenges delayed the tax going into effect, and a strong campaign from the beverage industry has soured public opinion on the measure. It was repealed […]