• U.S. Senate bill could give Tesla, GM electric car tax credit boost

    27 days ago - By Reuters

    Tesla Inc and General Motors Co, which have lobbied Congress to lift a cap on electric vehicles eligible for a $7,500 tax credit, could get their way for up to four years under a new proposal from a Republican senator.
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  • Big U.S. banks end third quarter on high note

    27 days ago - By Reuters

    Wall Street's top investment banks enjoyed a strong third quarter as strength in stock trading and equity underwriting added to the benefits from a strong U.S. economy and tax reforms.
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  • Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

    27 days ago - By Fortune

    Individual income taxes are the federal government's single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.
    If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.
    Bloomberg looked into the 2016 individual returns data in...
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