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Taxes

Top 1% of earners don't pay taxes on one-fifth of income, study finds

by Justin Ho
Mar 23, 2021
Many pass their income through partnerships and corporations. Others park money offshore.
A big part of the issue, the report found, is that the IRS uses random audits to weed out cheaters.
Spencer Platt/Getty Images
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COVID-19

What tax questions do you have this year?

by Marketplace Staff
Mar 19, 2021
COVID-19 made filing more complicated. We're here to help answer your questions.
Soulmemoria/Getty Images
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COVID-19

IRS backlog causing problems for taxpayers

by Marielle Segarra
Feb 9, 2021
The IRS shut down its offices due to COVID, creating a buildup of millions of pieces of unopened mail and unprocessed returns.
The delays because of the pandemic are so bad, they’re even affecting people who bypassed the mail and paid their taxes online.
Zach Gibson/Getty Images
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For those who received unemployment benefits last year, a possible tax surprise

by Samantha Fields
Feb 3, 2021
Millions were on unemployment at some point in 2020. A new measure in Congress proposes waiving taxes on some of that income.
People can choose to have taxes taken out of their benefits during the year, but most don’t, said Elaine Maag at the the Urban-Brookings Tax Policy Center.
Soulmemoria via Getty Images
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Some things we know about filing 2020 taxes

by Andy Uhler
Jan 18, 2021
Because so many people worked from home this year, some taxpayers may have to do more research and paperwork.
Scott Olson/Getty Images
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COVID-19

Some delayed stimulus payments may not arrive until you file 2020 taxes

by Nova Safo
Jan 7, 2021
If the IRS has out-of-date information for your bank account, you may have to claim the stimulus as a credit on your 2020 taxes.
There’s a glitch in the direct payments system: For some taxpayers, the IRS has out-of-date bank account information.
Olivier Douliery/AFP via Getty Images
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COVID-19

Small businesses still struggling with COVID impacts must consider tax implications, too

by Justin Ho
Dec 29, 2020
Many received PPP loans. And that means new tax questions for 2021 filings.
A closed dining area outside a Manhattan restaurant on Nov. 13, 2020.
Spencer Platt/Getty Images
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Biden faces economic obstacles beyond the pandemic's burdens

by David Brancaccio , Erika Soderstrom and Daniel Shin
Dec 29, 2020
The list includes dwindling trust funds for Social Security and Medicare and potential bubbles in the housing and stock markets.
Biden will confront "headwinds unlike those that have ever been faced by any modern president," says Eugene Steuerle of the Urban-Brookings Tax Policy Center.
Mark Makela/Getty Images
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COVID-19

Paycheck Protection Program loan recipients face a new challenge: Taxes

by Justin Ho
Nov 17, 2020
As the year draws to a close, small business owners are starting to figure out their tax liabilities for 2020. That's complicated for businesses that got Paycheck Protection Program loans.
Empty chairs are seen inside a restaurant in New York on Nov. 13, 2020. Businesses whose PPP loans are forgiven are not allowed to claim deductions on expenses that were paid for using loan money.
Kena Betancur/AFP via Getty Images
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Elections 2020

Fact-checking Harris’ and Pence’s claims about taxes

by Janet Nguyen
Oct 9, 2020
The two clashed over Trump’s signature tax reforms during the vice presidential debate.
A view of Vice President Mike Pence and Sen. Kamala Harris at the vice presidential debate on Wednesday.
Eric Baradat, Robyn Beck/AFP via Getty Images
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