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The Expanded Child Tax Credit Expires in 2021 Will Democrats Renew It for 2022?

The Expanded Child Tax Credit Expires in 2021 Will Democrats Renew It for 2022?
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Columbia centerUnited statesWhite houseDistrict of columbiaWest virginiaLindsay owensChye ching huangHeidi laursonSherrod brownScott winshipNancy pelosiIsabel sawhillJoe manchinCarmen rodriguezBernie sandersSenate majority leader chuck schumer

What Can The IRS Do To Enforce Tax Laws?

SCOTT SIMON, HOST: If indeed there s a bipartisan agreement on new infrastructure spending, one thing that won t help pay for all of it is collecting money the taxpayers already owe. Negotiators have agreed not to include a provision that would ve boosted the ability of the IRS to enforce tax laws. Chye-Ching Huang is the executive director of the Tax Law Center at the NYU School of Law and joins us now. Thanks very much for being with us. CHYE-CHING HUANG: Great to be here. SIMON: Why was a provision that would ve meant more money that s owed to the federal government in the federal budget dropped?

Chye ching huangTax law centerSchool of lawChing huangLaw centerவரி சட்டம் மையம்பள்ளி ஆஃப் சட்டம்சிங் ஹுவாங்சட்டம் மையம்

Biden s claim his plans don t add a single penny to our deficit

Over and over, President Biden claims his big spending plans will not increase the federal budget deficit But the math is complicated.

New yorkUnited statesWhite houseDistrict of columbiaNew york universityCharles rossottiMarc goldweinDavid kaminChye ching huangMark zandiG william hoaglandBrian riedlYork university school of lawTax law centerBipartisan policy centerManhattan institute

Joe Biden Tax Rule Would Rip Billions From Big Fortunes At Death

The Amazon.com Inc. founder s heirs may have to pay more than $36 billion. Jeff Bezos has an ex-wife, a girlfriend, four children and billions of reasons to watch whether Joe Biden s tax overhaul wins congressional approval. The Amazon.com Inc. founder s heirs may have to pay more than $36 billion if the president succeeds in closing a loophole that helps the rich transfer much of their fortunes tax-free at death. Under current rules, whoever inherits the Amazon shares Bezos bought in 1994 for $10,000, worth $180 billion today, will receive a so-called step-up in basis, wiping out any capital gains tax liability. Biden s plan would close that loophole and apply the top capital gains tax immediately when assets transfer to wealthy heirs. If the rate increases it s 20% for holdings like Bezos s, and Biden has called for boosting it to 39.6% the eventual tax bill would too.

National bureau of economic researchUnited statesSan franciscoJohn riccoDonald trumpChye ching huangJeff bezosJoe bidenForrest mars jrSumner redstoneFrank clementeLaurene powell jobsGeorge lucasMelinda gatesBarack obamaGeorgew bush

Jeff Bezos heirs would pay over $36B after Amazon founder s death if Biden tax plan succeeds

Jeff Bezos heirs would pay over $36B after Amazon founder s death if Biden tax plan succeeds
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United statesJohn riccoChye ching huangJeff bezosWalt disneyJoe bidenForrest mars jrSumner redstoneFrank clementeLaurene powell jobsGeorge lucasMelinda gatesGeorgew bushSteve jobsOwen zidarLarry ellison