Joe Biden asked to replace IRS chief Charles Rettig over tax document destruction

Charles P. Rettig, commissioner of the Internal Revenue Service, testifies during the Senate Finance Committee hearing titled The IRS Fiscal Year 2022 Budget, in Dirksen Senate Office Building in Washington, DC, June 8, 2021. Tom Williams | Pool | Reuters A leading House Democrat on Friday called on President Joe Biden to replace IRS Commissioner … Read more

The tax deadline is 10 days away. Here’s the average refund so far

bymuratdeniz | iStock | Getty Images There are 10 days until April 18, the tax deadline for most Americans, and the IRS has already sent more than 63 million refunds worth over $ 204 billion in total, as of April 1, the agency reported Friday. Almost one-third of Americans do not file until the last … Read more

Why Biden’s billionaire minimum income tax may be a tough sell

Josh Gottheimer, DN.J., talks to reporters in Washington, Nov. 4, 2021. Elizabeth Frantz | Reuters President Joe Biden has proposed a new tax on the ultra-wealthy as part of his 2023 federal budget, aiming to reduce the deficit by about $ 360 billion. Some experts say it’s unlikely to gain traction in Congress. The “billionaire … Read more

Singapore Finance Minister Lawrence Wong on net wealth taxes

SINGAPORE – Singapore wants to introduce net wealth taxes and is studying the possibility of making those with greater means pay more, Finance Minister Lawrence Wong told CNBC on Monday. However, the minister pointed to the challenges of such wealth taxes, which would inevitably cause money to flow away from Singapore. As part of its … Read more