The Billionaires Income Tax Act of 2025 would require the ultra-rich to pay taxes on unrealized gains, closing a major loophole in the U.S. tax system. While supporters call it a step toward fairness, critics warn of challenges in valuing assets and market impacts. Here’s what the new proposal could mean for America.

Income inequality in America is still rising, even after taxes and credits. A new Census Bureau report shows that while the U.S. tax system reduces the gap between rich and poor, it isn’t enough to keep the wealth divide from growing. From 2009 to 2024, wealthy households pulled far ahead, while middle- and low-income families saw only small gains that are quickly eaten up by rising costs of housing, healthcare, and food.

This trend matters for families and the economy as a whole. Less spending power in the middle class, more debt, and higher costs of living all add pressure to everyday households. Experts point to possible solutions like expanding tax credits, adjusting the tax code, and raising wages. Without changes, the Census report warns that inequality will keep widening, leaving many families struggling to catch up.

The IRS is warning taxpayers about fraudulent tax credit schemes spreading on social media. Scams involving the Fuel Tax Credit and Sick & Family Leave Credit have already led to $162 million in penalties. Learn how to protect yourself, avoid false claims, and keep your refund safe.

A new bill in Congress, the You Earned It, You Keep It Act, aims to make Social Security benefits permanently tax-free. Learn how this proposal works, why it raises the payroll tax cap for high earners, and what it could mean for retirees who rely on monthly Social Security checks.

The new tax law is giving businesses a major boost with accelerated deductions. With bonus depreciation and faster R&D write-offs, companies can cut taxes, improve cash flow, and reinvest in growth. Learn how these tax breaks work, who benefits most, and why they matter for businesses of all sizes.

Tax compliance is one of the biggest struggles for e-commerce businesses today. A new report shows over half of online leaders feel stressed about complex U.S. tax laws. Learn why compliance is so challenging and discover simple strategies to stay compliant, avoid penalties, and protect your profits.

The IRS is cracking down on tax credit scams spreading on social media and warning taxpayers about false claims. From the Fuel Tax Credit to Sick and Family Leave Credit fraud, penalties are steep. Learn the latest IRS alerts, OBBBA law guidance, and key reminders for safe filing in 2025.

Two courts say Trump’s tariffs may be illegal—and if the Supreme Court agrees, companies could see billions in refunds. Here’s what that means for businesses, consumers, and the economy.

States like California, New Jersey, and Pennsylvania are pushing back on new federal tax changes, including the end of EV credits and the SALT cap. From fresh EV rebates to Pass-Through Entity Taxes, these state workarounds could offer real savings for homeowners and business owners navigating higher federal bills.

The second-home mortgage interest deduction lets homeowners deduct interest on up to $750,000 of mortgage debt, even for vacation properties. But now lawmakers are debating whether to change or repeal it. Learn what this tax break means, why it’s under fire, and how potential changes could affect homeowners and the housing market.

The U.S. has ended its $800 de minimis exemption, a rule that once allowed duty-free imports on small packages. This change means higher costs for online shoppers, new challenges for small businesses, and big shifts in global trade. Here’s what you need to know.

Federal EV tax credits of up to $7,500 for new cars and $4,000 for used cars will expire on September 30, 2025. Learn how to qualify before the deadline and what incentives come next.

A new study reveals that America’s billionaires are paying a lower tax rate than most workers. While the Forbes 400 pay about 24% in taxes, the average American pays around 30%. The gap comes from tax breaks on investments, corporate income, and loopholes only the ultra-wealthy can use. This raises big questions about fairness, tax reform, and the growing wealth gap in the U.S.

The new One Big Beautiful Bill (OBBB) extends several key tax breaks from the Tax Cuts and Jobs Act (TCJA), including the child tax credit, SALT deduction cap, and estate tax exemption. But not every benefit stayed in place—some provisions reverted to older rules, and the extension comes with a $4.5 trillion price tag over the next decade. Here’s what families, homeowners, and business owners need to know for 2025 and beyond.

Many taxpayers are wondering if a new $2,000 stimulus check is on the way in 2025. The IRS has confirmed there is no new stimulus payment right now, despite online rumors. Instead, the agency urges taxpayers to use the "Where’s My Refund?" tool to track their refunds and stay alert for official updates.

The IRS has issued new FAQs on key energy-related tax credits, including Sections 25C, 25D, 45L, and 179D under the OBBBA. These updates affect homeowners, builders, and businesses looking to save with clean energy incentives. Learn what’s changing and how to take advantage before credits expire.

Tariffs are giving the U.S. government record revenue in 2025, but at what cost? Learn how this hidden tax impacts businesses, consumers, and long-term growth.

The IRS caused confusion after suggesting the 2026 tax season might not begin until Presidents’ Day, raising concerns about refund delays and filing deadlines. While the IRS later clarified no official start date has been set, taxpayers should start preparing now to avoid stress and ensure fast refunds once filing opens.

The rules for casino winnings are changing in 2025. Under Trump’s new tax law, casinos won’t issue tax forms for slot machine wins until payouts reach a higher amount. This means fewer W-2G forms for casual players and less paperwork during tax season. But while it may feel like a win for gamblers, it’s still important to track your winnings and understand how this law could affect your taxes.

In 2025, back-to-school shopping is getting a major boost with tax-free weekends across 17 states—plus a full month in Florida and a two-week holiday in Ohio. From clothing and school supplies to electronics, these sales tax holidays can save families hundreds of dollars. Here’s your complete guide to dates, participating states, and smart shopping strategies so you don’t miss out.