Public debt stands at more than $39 trillion, with the interest expense on that borrowing now exceeding $1 trillion a year, highlighting the urgent need for a sustainable fiscal path.
"I was thinking, well, it's a little inconsistent for me to refuse induction, refuse to go into the military, yet pay taxes that would fund other people to go into the military," the 81-year-old told Fortune.
OMB is not giving access to anything to agencies, according to a spokesperson, despite the administration's interest in the powerful Mythos AI model that identifies digital vulnerabilities.
Palantir Technologies, despite earning $1.6 billion in net income last year, did not pay any federal income taxes due to favorable tax policies that allow corporations to dodge taxes.
"Yes, we're No. 1 in education. Yes, we're a safe state," said Chris Keohan, the spokesperson and consultant for the Taxpayers for an Affordable Massachusetts ballot committee. "But what does it tell you if we're losing people to states that are less safe, that have less level of education? It tells you that we're at a breaking point and something absolutely has to be done."
The law did not eliminate the charitable deduction in name. It rendered it functionally useless for anyone who does not already have enough deductions to clear the standard deduction threshold on their own.
The person that does get audited does not just get slapped on the hand. You could end up paying penalties and interest in addition to what you owe. In extreme cases, you could also be prosecuted. This tax season, take the time to vet any tax advice you're considering.
As the 2025 tax season approaches, Bill Bisson is stuck in tax limbo, still waiting for the Canada Revenue Agency to resolve a $3,471 penalty stemming from his 2023 return a charge he and his tax adviser say is an obvious CRA error. It's frustrating, it has created a lot of stress for me, said Bisson, who lives in Beaver Bank, N.S., just outside Halifax. It just keeps hanging over my head.
Days before the 2026 tax filing season begins, the head of the IRS announced a shake-up Tuesday, saying the personnel and operational changes are intended to improve taxpayer service and modernize the agency. The timing of the announcement coincides with a critical moment for the agency, as the IRS prepares to process millions of tax returns while simultaneously implementing major tax law changes under the tax and spending package President Donald Trump signed into law last summer.
Tax filing season officially begins on Monday, January 26. If you missed the news last year, the IRS has ended its Direct File Service. My home state joined the program in 2025, and while it wasn't the only free option for filing taxes, I can attest it was absolutely the easiest -- especially if your tax situation goes beyond basic W-2 forms. (I was surprised to learn that fewer than 300,000 people used the service last year.)