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White House · 117th Congress

Bidens paid 24.6 percent tax on $610K income, return shows

But the couple also reported earning nearly $62,000 from book royalties, which were funneled into two closely held businesses known as subchapter S corporations: Giacoppa Corp. and Celticcapri Corp.

White House · 117th Congress

Bidens paid 26 percent tax on $607K income, 2020 return shows

As he has done in previous tax filings, the Bidens routed some of their income from book deals and speeches into a type of closely held business known as a subchapter S corporation, called Giacoppa

White House · 117th Congress

The choices Joe Biden makes now will set his legacy in motion

Even Trump, after his success using reconciliation to enact 2017’s tax overhaul, worked with Democrats on 2018’s law to offer more leniency to nonviolent criminals and to improve prison programs aimed

Policy · 116th Congress

Top House tax writers unveil retirement savings proposal

The bill would also increase the age for required minimum distributions from 401(k)s and other tax-favored retirement plans from 72 to 75 years old, adding options for older savers wrestling with

Congress · 116th Congress

House Democrats float tax compromises in coronavirus relief talks

Ways and Means Democrats have proposed a meld of provisions they’ve included in larger House-passed relief packages as well as Senate GOP relief legislation (S 4318) introduced by Finance Chairman

White House · 116th Congress

Social Security’s safe with us, Mnuchin says

Treasury Secretary Steven Mnuchin said Wednesday that the Trump administration will protect Social Security, create certainty for new payroll tax break.

Campaigns · 116th Congress

Elizabeth Warren has a plan: Here’s what it would cost

For billionaires earning 10 percent on their investments, or roughly the historical average return on the S&P 500, the tax would claw back 60 percent of that gain; if they earned a mere 6 percent, the

Congress · 116th Congress

Retirement savings bill seeks small business buy-in

Another provision recognizes that Americans are working longer by increasing the age for required minimum distributions from tax-favored savings plans such as 401(k)s and IRAs from 70 ½ to 72 years