Tax planning

There is increased momentum for an income tax on $1 billion or more in annual income, or three consecutive years of $100 million or more in income.

The NCAA began allowing university athletes to earn money from their name, image and likeness this summer, and now they could find themselves owing taxes for the first time in their lives.

The Arizona Democrat — who has opposed raising rates on corporations and individuals — will back ways of increasing revenue from domestic corporations, global companies, high net-worth individuals and through tax enforcement.

President Joe Biden’s acknowledgement that he doesn’t have sufficient Senate Democratic backing for his proposed increase in the U.S. corporate tax rate gives fresh impetus to efforts by negotiators to find alternative revenue sources for a sweeping social-spending bill.

They're exploring alternatives after months of focusing on proposals to increase tax rates on income and capital gains.

Congressional Democrats are at odds over President Biden’s economic agenda, even as party leaders aim to have a deal outline by the end of the week.

Lawmakers are rejiggering the proposal after a wave of criticism by Republicans and bank lobbyists.

The proposal is the result of weeks of talks between Democrats about how to scale back an idea first floated by Treasury officials.

The Democratic Senator said there’s little chance that Congress can complete work on President Biden’s economic agenda by the end of the month.

The plan would require financial institutions to report information about some bank accounts to the IRS.

There’s no telling where the vast fortunes hide on tree-softened Phillips Avenue in Sioux Falls.

The party’s progressives and moderates disagree over which pieces of President Biden’s agenda to pay for — and how long to pay for them.

The average plan holds less than $29,000, which would pay for about half of a year at the average private university or a year or more at a public one.

The president has warned progressives that they will have to temper expectations for the final legislation.

Biden informed Democrats that a separate infrastructure bill would need to wait until the social welfare and tax package was complete.

House Speaker Nancy Pelosi is giving lawmakers until Halloween to strike a deal.

Manchin said any new programs should be means-tested and that the tax offsets should include elimination of the carried-interest provision that especially benefits private equity firms.

Waiting until after potential rate increases go into effect could lower values.

The prospects for specific tax changes in the Build Back Better Act appear murky right now, but there could be more clarity later this week.

The specific tax hikes remain to be detailed, as does any move to suspend or expand a $10,000 SALT cap.