Taxed and confused? Here’s where to get tax filing help
It's tough to know all the answers at tax time, particularly in a year with massive tax law changes. Sometimes people need help, but where should they turn? Here are a few...
House and Senate tax bills treat disaster victims unequally
If the House Republican tax bill became law, victims of hurricanes in Texas and Florida who've yet to account for all their losses could deduct them on their 2018 taxes. Not so for victims of the California wildfires.
If the Senate version prevailed, victims of all federally declared disasters — a category that cover victims of both hurricanes and the wildfires — could deduct their losses. But people who lost homes in smaller-scale disasters couldn't.
Count the ways: How GOP tax plans would reward rich families
WASHINGTON (AP) — Life may be about to get easier for people with rich parents. They can thank the Republicans' tax plans.
Senate Republicans barrel toward sweeping tax overhaul
WASHINGTON (AP) — The Senate on Wednesday barreled toward the most sweeping rewrite of the tax code in more than three decades as the top Republican senator said he was willing to compromise on a major sticking point for lawmakers from high-tax states such as New York and California.
The Senate voted 51-47 to formally begin negotiations with the House in an effort to reconcile their two tax bills. Days and nights of tough negotiations await.
Then and now: Why 1986 tax bill was everything 2017′s isn’t
WASHINGTON (AP) — They don't do tax reform like they used to.
The legislation that House and Senate Republicans have embraced has revived memories of Congress' most recent major tax overhaul three decades ago.
Correction: Tax Overhaul-Key Elements to Expire story
WASHINGTON (AP) — In a story Dec. 5 about taxes, The Associated Press reported erroneously the name of the Committee for a Responsible Federal Budget.
A corrected version of the story is below:
Those tax breaks in the GOP plan? Enjoy them while they last
Those tax breaks in the GOP plan? Enjoy them while they last. Many are set to expire
Economists expect modest boost from tax cuts
WASHINGTON (AP) — Economists expect a tax overhaul to provide a modest boost to the U.S. economy but are increasingly worried that a rewrite of the North American Free Trade Agreement will take a toll on growth.
AP FACT CHECK: Trump distorts tax plan, peddles false videos
WASHINGTON (AP) — President Donald Trump's recent rally in Missouri was a set-piece of distortion about taxes and the economy. He compounded his growing legacy of false tales on Twitter, where he spread a British fringe group's factually twisted propaganda aimed at stirring hate and fear of Muslims.
A look at statements from his rally last week, the anti-Muslim propaganda he retweeted and more:
Senate Democrats stand united against GOP tax bill
WASHINGTON (AP) — Rarely unified, Senate Democrats stood together in opposing the GOP revamp of the tax code despite the traditional popularity of tax cuts and warnings from President Donald Trump and Republicans about the political cost in next year's midterm elections.
Why Republicans who once fought budget debt now embrace it
WASHINGTON (AP) — When did Republicans stop worrying and learn to love budget deficits?
Over the next decade, their tax plan would add at least $1 trillion to the national debt. That would be on top of an additional $10 trillion in deficits over the same period already being by forecast by the Congressional Budget Office. As a share of the economy, the national debt would be rising to levels last seen during the height of World War II.
AP FACT CHECK: Trump’s tax fiction and embrace of propaganda
WASHINGTON (AP) — President Donald Trump's rally in Missouri this past week was a set-piece of distortion about taxes and the economy. He compounded his growing legacy of false tales on Twitter, where he spread a British fringe group's factually twisted propaganda aimed at stirring hate and fear of Muslims.
A look at statements from his rally Wednesday, the anti-Muslim propaganda he retweeted and more:
Would Trump really pay more under the tax bill? Not likely
WASHINGTON (AP) — President Donald Trump keeps telling voters that he stands to pay more under the Republican tax legislation. But the evidence suggests otherwise.
Details of the House and Senate tax bills show that an extremely wealthy elite — including the president, his family, many in his Cabinet and members of his golf resorts — would enjoy a bonanza of lavish tax cuts unavailable to the vast majority of taxpayers.
The Latest: Analysts see higher taxes for many _ eventually
WASHINGTON (AP) — The Latest on Republican tax overhaul legislation (all times local):
A nonpartisan analysis says the Senate tax overhaul bill would produce tax increases for half of all taxpayers by 2027.
The Tax Policy Center says that's because most of the legislation's personal tax reductions expire in 2026.
The organization says compared with current law, 9 percent would see higher levies in 2019, a year after the package would take effect.
GOP test: Expiring tax cuts would mean little bang for buck
WASHINGTON (AP) — Senate Republicans have run into a problem with their proposed tax cuts: Under Senate rules, the cuts would expire after 10 years.
Problem is, most economists say temporary tax cuts would swell the national debt while doing little for economic growth. And without faster growth, few individuals would stand to benefit from the pay raises and job gains being promised by President Donald Trump and Republican congressional leaders.
Idea at the heart of GOP tax plan: ‘trickle-down’ economics
WASHINGTON (AP) — The House Republicans' tax-cut plan springs from a core argument: What's good for big business and the moneyed elite is inevitably good for the economy and everyone else.
Their plan would slash corporate tax rates, end inheritance taxes for the ultra-rich and create new tax advantages for business owners. To help pay for some of those breaks, the plan would end tax deductions for college loans, high medical bills, moving costs and state and local income taxes.
The Latest: Trump tweets praise for GOP tax overhaul
WASHINGTON (AP) — The Latest on the tax overhaul from House Republicans (all times local):
President Donald Trump is praising the rollout of the GOP's tax overhaul plan.
In a tweet, Trump writes, "The lobbyists are storming Capital Hill, but Republicans will hold strong and do what is right for America!"
Republican lawmakers introduced the more than 400-page bill earlier Thursday, which would lower the corporate tax rate and simplify the personal code.
The Latest: GOP lawmaker says tax plan could preserve 401(k)
WASHINGTON (AP) — The Latest on the Republican tax overhaul effort (all times local):
House Republicans are leaving intact 401(k) retirement plans popular with the middle class.
That's according to a senior House GOP lawmaker. The development comes as Republicans are scrambling to assemble a complete draft of their long-awaited plan to dramatically rewrite the tax code.