Laura Davison

White House officials said the administration has no plans to do away with the payroll tax despite President Donald Trump saying he would seek a permanent repeal if he wins another term.

President Donald Trump’s order to delay collection of payroll taxes thrusts a dilemma on U.S. companies: continue withholding the money from workers expecting bigger paychecks or pass it on and potentially put themselves or their employees at risk of a big end-of-year bill from the IRS.

President Donald Trump is tapping his presidential authority to make tax changes that Congress is refusing to do, but his limited power means he could end up over-promising and under-delivering on his pledge to slash IRS bills.

President Donald Trump said he’s “very seriously” considering a capital gains tax cut, a move he decided against last September after saying it wouldn’t do enough to help the middle class.

Businesses donating to charitable funds in exchange for a state tax credit can deduct those costs from their federal taxes, according to regulations released on Friday.

President Donald Trump’s move to halt the collection of taxes that fund America’s main support programs for the elderly spurred a wave of political opposition and threatens to generate tension between employers and workers.

The Internal Revenue Service is sending $500 payments to the children of some stimulus relief recipients who hadn’t gotten that part of the aid package after lawmakers complained that the agency wasn’t moving fast enough.

President Donald Trump said he is “talking about” doing a payroll-tax cut through an executive action, but doing so could result in hefty tax bills for employers later if the idea doesn’t get mired in legal challenges before then.

The Internal Revenue Service released regulations to restrict a valuable tax break that hedge fund managers were able to claim after an error in 2017 Republican tax law.

The Internal Revenue Service moved to ease the tax burdens of private equity portfolio companies and heavily indebted industries.

The GOP legislation includes a second tranche of stimulus payments, structured the same way as the earlier round, in March, along with tax credits for businesses.

The 160 million Americans who got stimulus checks earlier this year would get another payment as soon as next month under a plan being negotiated by Treasury Secretary Steven Mnuchin and Senate Majority Leader Mitch McConnell.

Any boost for workers from a payroll tax cut that President Donald Trump favors would take weeks to kick in and the effects could be distributed unevenly.

People who aren’t required to file a U.S. tax return have less than three months to alert the Internal Revenue Service if they haven’t yet received a $1,200 stimulus payment from the government, Commissioner Chuck Rettig said.

The White House is signaling to Congress that President Donald Trump could reject a new coronavirus aid bill if it doesn’t include a payroll tax cut, adding a new complication to already contentious negotiations between Republicans and Democrats on the next round of stimulus.

A study has found that the last batch of stimulus checks arrived at wealthier, White households more quickly than to those of Blacks and Hispanics.

Even the extra time to file hasn’t been enough for some businesses struggling to pay the government as the pandemic threatens to worsen.

If you have an income of $1 million or more there’s less than a 1% chance that the IRS has called you in for an audit, according to new figures from the agency.

The IRS still hasn’t found everyone who is due a $1,200 stimulus check from the government, and locating everyone eligible for the payments will be key for any additional pandemic relief Congress may pass later this year.

The Internal Revenue Service won’t further delay the tax filing and payment deadline past July 15, despite requests to do so, the agency said Monday.