The IRS says it’s raising tax brackets due to rising inflation

The Treasury Department and the Internal Revenue Service (IRS) paid the final monthly child tax credit payment under President Biden's coronavirus relief statute on Wednesday, as the administration and congressional Democrats fight to prolong the payments.

The income limits for federal tax rates will be higher in 2022, according to the IRS, due to the quicker rate of inflation. With the top tax rate poised to remain at 37%, a married couple will need to earn nearly $20,000 more next year to enter the top tax bracket.

What is the hypocritical global minimum tax and how does it affect you?

hypocritical global minimum tax

It’s ironic that a group of wealthy nations is lobbying for policies that will hurt poorer nations. Yet, by endorsing a worldwide minimum tax rate of 15% on enormous multinational earnings, the leaders of the world’s largest economies accomplished just that, a pact that has subsequently gathered traction and pledges from leaders in 136 countries.

Saving for Retirement? Now You Can Bet on Bitcoin

[elementor-template id=”3753″] in Dummy, Another, Category This is dummy title and will be replaced with real title of your post Everyday investors are inviting the volatile world of cryptocurrencies into their IRA nest eggs as they search for higher returns Image with size : 1140×570 Illustration: Rob Dobi Cryptocurrencies, among the world’s most volatile assets, […]

Should We Forgive All Federal Student-Loan Debt?

[elementor-template id=”3753″] in Dummy, Another, Category This is dummy title and will be replaced with real title of your post A debate between a proponent who says the government should fix the debt crisis it created, and an opponent who says high repayments rates suggest the program is working for most Image with size : […]

Japan’s Love of Debt Offers a View of U.S. Future

[elementor-template id=”3753″] in Dummy, Another, Category This is dummy title and will be replaced with real title of your post Congress is debating trillions of dollars more in proposed spending that would push America’s borrowing toward levels policy makers in Tokyo have long embraced Image with size : 1140×570 The Bank of Japan pioneered zero […]

Economy Week Ahead: Housing, Inflation and the Fed

[elementor-template id=”3753″] in Dummy, Another, Category This is dummy title and will be replaced with real title of your post Also on tap, August surveys of purchasing managers in some of the world’s largest economies Image with size : 1140×570 Federal Reserve Chairman Jerome Powell in Washington last month. Photo: nicholas kamm/Agence France-Presse/Getty Images Federal […]