Reported 8 months ago
The Trump-era tax cuts are expected to expire in late 2025, becoming a focal point in the upcoming election. Both President Joe Biden and former President Donald Trump have shown willingness to extend the deadline, with Trump even suggesting replacing income tax with tariffs. Experts discuss the impacts on the national debt and potential consequences in presidential debates. The IRS is also planning to close business loopholes through better enforcement by hiring experts to combat tax avoidance.
Source: YAHOO