US Tax

Bessent, who manages the US stake, has criticized the Fund for straying too far from its core economic stability and surveillance missions

The original version of US President Donald Trump's "One Big Beautiful Bill" included a 5 per cent excise duty on outward remittances

Republicans, who hold narrow majorities in the House of Representatives and Senate, have spent weeks trying to agree on a plan to cover the cost of extending the tax cuts

Wealthy Indian investors looking to diversify their portfolios face a surprise tax burden when inheriting US stocks. GIFT City, India's international financial hub, can offer a solution

Neuralink isn't the first business Musk has reincorporated outside of Delaware and may not be the last

Harvard, the oldest and richest college in the US, has long been a target for its immense wealth

The IRS says it has collected an additional USD 360 million in overdue taxes from delinquent millionaires as the agency's leadership tries to promote the latest work it has done to modernise the agency with Inflation Reduction Act funding that Republicans are threatening to chip away. Leadership from the federal tax collector held a call with reporters on Thursday to give updates on how the agency has used a portion of the tens of billions of dollars allocated to the agency through Democrats' Inflation Reduction Act, signed into law in August 2022. Along with the USD 122 million collected from delinquent millionaires last October, now nearly half a billion dollars in back taxes from rich tax cheats has been recouped, IRS leaders say. The announcement comes as the IRS braces for a more severe round of funding cuts. The agency cuts previously agreed upon by the White House and congressional Republicans in the debt ceiling and budget cuts package passed by Congress last year which ..

The opposition from Republicans may push President Joe Biden to attempt to use budget procedures to pass the initiatives with only Democratic votes

The tax filing suggests the organisation is still finding its footing: It currently has no executive director or in-house staff

The Democrats' idea for a new billionaires' taxplan quickly ran into criticism

President Joe Biden's USD 6 trillion budget proposal for next year would run a USD 1.8 trillion federal government deficit despite a raft of new tax increases on corporations and high-income people

The measures will be key elements to offset the cost of Biden's "American Families Plan" that he's set to unveil in a speech to Congress

The White House plans to propose almost doubling the capital gains tax rate for those earning $1 million or more, to 39.6%

The move comes as pharmaceutical giant Pfizer plans to merge itself with Ireland-based Allergan