Income Tax

Gross domestic product shrank 9.5% in the second quarter from the first, a drop that equals an annualized pace of 32.9%, the Commerce Department’s initial estimate showed on Thursday. That’s the steepest annualized decline in quarterly records dating ...

As we head into August, when Congress is scheduled for a recess, lawmakers are poised to present another COVID-19 relief package to the president for his signature. But the Democratic-controlled House and the Senate Republicans still have to hash out ...

Instead of a payroll tax cut, the GOP will now back $1,200 checks for individuals who make up to $75,000 a year, exactly as in the March stimulus bill. Mnuchin said that would get money into the economy faster than cutting the payroll tax, which would ...

Due to the coronavirus pandemic, taxpayers have until the postponed due date of July 15, 2020, to file their taxes this year. But if they can't make this deadline, they can receive an extension that gives taxpayers until Oct. 15 to file, but taxes owed ..

A general guideline based on IRS information and data from previous years, to help taxpayers estimate when they might receive their refund. We've updated our calendar this year to show estimated refund dates for those who filed later than ...

The U.S. Supreme Court has ruled that President Donald Trump is not automatically immune from investigations into his income tax returns but stopped short of requiring the release of his tax returns.

McConnell said he’s “pretty sure” that a bill will come together in the next couple of weeks. He said it will be crafted in his office with consultation from the administration and then negotiated with Democrats, who endorsed a ...

McConnell said he’s “pretty sure” that a bill will come together in the next couple of weeks. He said it will be crafted in his office with consultation from the administration and then negotiated with Democrats, who endorsed a $3.5 trillion package ...