What follows are my initial responses to Trump’s creation of the External Revenue Service, or ERS, future rival of the IRS.

Donald Trump‘s proposed tax plan paints an encouraging picture of lower taxes and stronger economic growth, but the numbers may tell a different story. The promised tax cuts could slash federal ...

President Donald Trump has threatened universal duties and said they'll raise money, but he is also using tariff threats as ...

During the campaign, President Donald Trump floated an “all tariff policy” he said would replace federal income tax. Here’s ...

The tax brackets you fall into determine much you owe the IRS at tax time. For tax year 2024 (filing in 2025), there are seven brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%. That will remain the ...

But Bryan Riley from the National Taxpayers Union pointed out that the “federal government collects ... “It does not collect duty revenue from foreign sources, so it is not clear what the ...

President-elect Donald Trump has announced his plan to create a federal body charged with taxing and collecting taxes from U.S. trade partners.

Figures released on Friday by the Finance Department show personal income tax collections – the single largest source of federal revenue – are on track to surpass the record $344.3 billion ...

Tariffs are taxes on imports, which in most cases are paid by the U.S.-based importer to an existing federal agency ... be relied upon as a major source of tax revenue," York explained.