President Trump is proposing to eliminate a tax loophole that’s also a long-time target of some Democratic lawmakers. Mr. Trump is working on “no tax on seniors’ Social Security, no tax on overtime pay” as well as renewing the tax cuts in the 2017 Tax Cuts and Jobs Act, White House press secretary Karoline Leavitt…
Sign up for the Slatest to get the most insightful analysis, criticism, and advice out there, delivered to your inbox daily. For the past century, Delaware has been a corporate oasis. It’s not the Cayman Islands or Switzerland—a pure tax haven or hub of utmost bank secrecy—but simply a reliable place to do business. In…
US President Donald Trump has rattled economies and markets with his promise of imposing punitive tariffs on the nation’s largest trade partners. So far he’s implemented 10% levies on China; delayed plans to hit Mexico and Canada with a 25% duty tax; and indicated that he’s coming for the European Union next. Yet beyond all…
WASHINGTON (AP) — U.S. President Donald Trump held off Monday on his tariff threats against Mexico for one month of further negotiations after Mexican President Claudia Sheinbaum agreed to send 10,000 members of her country’s national guard to the border to address drug trafficking. Trump’s tariffs against Canada and China were still slated to go…
ATLANTA (AP) — President Donald Trump has taken executive action to impose new tariffs on imports from Canada, China and Mexico. The move fulfills campaign promises but also sparked retaliatory moves that could signal an extended trade war with key trading partners and, in the case of Mexico and Canada, the closest U.S. neighbors and…
President Donald Trump signed an order to put tariffs on U.S. neighbors Canada and Mexico, as well as China, starting Tuesday. Canada and Mexico quickly announced retaliatory tariffs, while China said it would take “necessary countermeasures.” The business between the North American nations now exceeds China, totaling $1.8 trillion in 2023. That is far greater…
WASHINGTON (AP) — From an ice cream parlor in California to a medical supply business in North Carolina to a T-shirt vendor outside Detroit, U.S. businesses are bracing to take a hit from the taxes President Donald Trump imposed Saturday on imports from Canada, Mexico and China — America’s three biggest trading partners. The levies…
WASHINGTON (AP) — The Department of Government Efficiency, run by President Donald Trump’s billionaire adviser and Tesla CEO Elon Musk, has gained access to sensitive Treasury data including Social Security and Medicare customer payment systems, according to two people familiar with the situation. The move by DOGE, a Trump administration task force assigned to find…
Hong Kong’s finance chief should spend within the city’s means given the expected whopping deficit, a rural leader has said after drawing a fortune stick that advised residents against greed as part of a Lunar New Year ritual. Kenneth Lau Ip-keung, chairman of powerful rural body the Heung Yee Kuk, drew a “neutral” stick at…
Tax season is now underway, with the IRS accepting returns for all taxpayers as of Jan. 27. That’s prompting many people to turn to the “Where’s my refund?” app from the tax agency to track when they’ll get their check. Americans are expected to file about 140 million returns before the April 15 deadline. Last…