#tax-reform

#tax-reform

Verizon raised its annual profit forecast, citing strong demand for premium plans and benefits from tax law changes, leading to a notable rise in shares.

Roughly 1 in 3 homeowners in America has built up more equity than the federal capital gains tax exclusion for single filers protects, meaning nearly 29 million households could face a tax of up to 20%.

The Penn Wharton Budget Model finds that the bottom 20 percent of households would see their income reduced by 2.9%, about $885, due to the tax plan.

President Trump signed a multitrillion-dollar package of tax breaks and spending cuts, achieving almost unanimous Republican support, which could define his legacy.

We're hearing that the House has passed the megabill after it got through the Republican Senate. Now it's on its way to President Trump's desk, and he's going to sign it. When he does, he will create some of the biggest tax breaks for billionaires in history, even more wealth to the wealthiest Americans. And the way they're paying for it is to cut health care for working-class Americans, to cut food that would go to veterans and children in this country.

"In order to maintain our competitive edge, we must change our tax code to embrace our digital economy, not burden digital asset users," said Lummis.

The proposed change to reduce the tax-free cash savings limit under ISAs aims to steer £300 billion in cash holdings toward long-term investment in UK equities.

The legal claim, served on Tuesday to Chancellor Rachel Reeves and HMRC, calls for a judicial review of the government's decision to cap long-standing tax reliefs for farmland and family businesses without a full public consultation.

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The much-maligned IR35 status checker tool, used by HMRC, saw a 73% decline in usage over the past financial year, reflecting growing discontent among contractors.