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The Federal Deficit Is Growing This Is Why

Tax receipts dipped unexpectedly last year. The Biden administration blames Republican tax cuts, but the truth is more complicated.

United statesWhite houseDistrict of columbiaGeorgew bushBobby koganKarine jean pierreBarack obamaCongressional budget officeRevenue serviceTreasury departmentFederal reserveSupreme courtPresident donaldPresidents georgeAmerican progressInternal revenue service

Microsoft Faces Potential $28 9 Billion Tax Bill as IRS Targets Back Taxes

Microsoft has disclosed that it had received Notices of Proposed Adjustment from the Internal Revenue Service (IRS) regarding its tax obligations.

Switzerland generalUnited statesDaniel goffWorld economic forumAgency record after microsoftAssociated pressRevenue serviceExchange commissionInno floresTech timesProposed adjustmentInternal revenue serviceGetty imagesTax cutsJobs actRecord after microsoft activision

Microsoft and the IRS disagree on $28 9 billion in back taxes

The IRS claims Microsoft owes $28.9 billion in back taxes between 2004 and 2013

United statesPuerto ricoDaniel goffRevenue serviceInternal revenue serviceProposed adjustmentTax cutsJobs actTaxes microsoftIncome tax in the united statesInternal revenue serviceOffshore magic circleTax havenTax cuts and jobs actCorporate taxation in the united statesInternational taxation

Higher Rates Stoke a Growing Chorus of Deficit Concerns

A long period of higher interest rates would make the government’s large debt pile costly, a possibility that is fueling a conversation about debt sustainability.

United statesMaya macguineasAjay rajadhyakshaRobert tippJason furmanSantul nerkarKrishna guhaCongressional budget officeFederal reserveTreasury departmentFinancial markets associationWall streetUnited stateSocial securityPresident bidenPresident donald

Special session debacle: OK Senate adjourns as House stands with Governor to cut taxes

Lawmakers were back in the Capitol for the Governor's special session on tax cuts, in a short but busy day in the chambers.The Senate adjourned after the Govern

United statesCharles mccallTodd russHouse speaker charles mccallTreasurer todd russPresidency of barack obamaInternal revenue serviceGovernor of oklahomaTax cuts and jobs actBush tax cutsPresidency of donald trump

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