Trump’s job cuts are forcing the IRS to cancel several large audits, which could result in tens of billions in lost revenue for the government
Job cuts at the IRS are decimating the audit division. That could result in tens of billions of dollars in lost revenue for the government. The cuts come after the Biden administration worked to staff ...
These states get up to half of their revenue from the federal government
Federal dollars fund up to half of state budgets. Federal dollars make up 18% to 50% of state budgets, depending on the state ...
Opinion
Government efficiency is good — fiscal responsibility is better
The financial problem faced by the federal government is that it has numerous worthy investments that serve the interests of the population but not enough revenue to cover them all. This means that ...
The Financial Express11h
Personal Income Tax: Guess how much of govt’s direct tax revenue comes from you!
In the financial year 2024-25 (till March 16, 2025), the government's net direct tax collection reached Rs 21.26 lakh crore, which is 13% more than the same period last year.
Will Government Shutdown Delay Tax Return Payments? What to Know
A potential government shutdown could delay tax return processing and refunds, affecting taxpayers nationwide.
The Business Standard19h
Govt to allow bonded warehouse facility for cotton traders to ease US trade gap
An initiative has already been taken to amend the Bonded Warehouse Licensing Rules after receiving a letter from the Bangladesh ambassador in Washington in favour of a US company seeking the facility ...
Island3d
Excise duty on cigarettes calculated to increase profits of some companies while declining govt. revenue
Studies conducted on excise revenue from cigarettes have raised concerns over the current calculation method, revealing that it has led to a decline in government revenue while increasing the profits ...