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The United States is on pace to add trillions of dollars to its national debt over the next decade, borrowing money more quickly than previously expected, at a time when big legislative fights loom over taxes and spending.
The Supreme Court’s knockdown of Chevron deference could complicate the ability of the Treasury Department and the Internal Revenue Service to craft federal regulations that are central to President Biden’s economic agenda.
In the first presidential debate of the year between the leading Democratic and Republican candidates, President Biden and former President Donald J. Trump clashed on inflation, taxes, Ukraine and the future of democracy.
Good evening, and welcome to what might be the most important night of the presidential campaign.
Rampant identity theft has overwhelmed the Internal Revenue Service, resulting in a backlog of 500,000 unresolved fraud cases, leaving taxpayers without refunds and credits that they are due, the agency’s watchdog wrote in a report to Congress on Wednesday.
The Biden administration on Friday outlined its plans to curb new American investment in critical Chinese technology industries that could be used to enhance China’s military, further straining economic ties with Beijing at a time when trade tensions are rising.
The Internal Revenue Service is expanding its efforts to crack down on fraud in a pandemic-era tax credit program following an internal analysis that found a majority of outstanding claims appeared to be improper.
On a hot day in May, Andrew L. Smith Sr., a vegetable farmer from Ludowici, Ga., listened with skepticism as Tom Vilsack, the U.S. agriculture secretary, touted President Biden’s efforts to help Black farmers overcome decades of discrimination.