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The acting head of the Internal Revenue Service plans to resign, the Treasury Department said on Tuesday, a move that comes after the agency struck a controversial deal to share tax data on undocumented immigrants with federal agents. Commissioner Melanie Krause will become the tax-collecting agency’s third leader to exit since the start of the…
Elon Musk speaks during the first cabinet meeting hosted by U.S. President Donald Trump, at the White House in Washington, DC, U.S., February 26, 2025. Brian Snyder | Reuters Recent actions by the Department of Government Efficiency to access internal computer systems and databases at many federal government agencies, including the Treasury Department, Internal Revenue…
Members of the Los Angeles Dodgers celebrate on the field after winning Game 5 to win the 2024 World Series presented by Capital One between the Los Angeles Dodgers and the New York Yankees at Yankee Stadium on Oct. 30, 2024. Mike Lawrence | Major League Baseball | Getty Images As Major League Baseball’s spring…
President Donald Trump’s agenda is hitting speed bumps on Capitol Hill, as Republican infighting over spending levels threatens to halt a massive package of tax cuts, energy policy, health care and border security funds. Speaker Mike Johnson, R-La., initially said his conference would take the first steps this week to move the bill. But as…
U.S. House Speaker Mike Johnson (R-LA) listens to remarks during a House Republican leaders press conference at the U.S. Capitol House in Washington, U.S., November 12, 2024. Nathan Howard | Reuters Republicans who control the U.S. House of Representatives are trying to overcome internal differences on how to pay for President Donald Trump’s sweeping tax…
U.S. President Donald Trump disembarks Air Force One at Harry Reid International Airport, in Las Vegas, Nevada, on Jan. 24, 2025. Leah Millis | Reuters President Donald Trump is using a stop Saturday in Las Vegas to offer details on how he can begin excluding tips from federal taxes, betting that a city built on…
Tom Goldstein, who writes SCOTUSblog.com, poses for a photograph in front of the Supreme Court, Thursday, Oct. 31, 2013, in Washington. Alex Brandon | AP A top Supreme Court lawyer who co-founded a popular blog about the high court was indicted Thursday in Maryland on federal tax evasion charges that allege he failed to declare…
Rep. Jason Smith, R-Mo., speaks during a House Oversight and Accountability Committee impeachment inquiry hearing into U.S. President Joe Biden on Sept. 28, 2023. Jonathan Ernst | Reuters As Congress wrestles over President-elect Donald Trump’s agenda, several key tax provisions are in limbo, including the child tax credit claimed by millions of families. Enacted by…
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. More than $100 trillion in household wealth is expected to be passed down as part of the Great Wealth Transfer, the…
Srdjanpav | E+ | Getty Images More from FA Playbook: Here’s a look at other stories impacting the financial advisor business. When a Roth conversion is completed, you’ll owe regular income taxes on the converted balance, based on your current-year taxable income. Ideally, you’re “managing the tax bracket,” said CFP Jim Guarino, managing director at…
