Hacker News with Generative AI: Taxes

Trump official calls Social Security 'wrong' with groundwork for cuts (independent.co.uk)
Donald Trump and Elon Musk are ramping up baseless claims that tens of millions of dead people are collecting Social Security payments, laying the groundwork to cut out “waste” and “fraud” as they look to make dramatic cuts for some of the most expensive programs in the federal budget to pay for astronomical tax cuts for America’s wealthiest households.

Politics, Social Security, Government Spending, Taxes

18 points by throw0101a 5 hours ago | 11 comments

Musk Team Seeks Access to IRS System with Taxpayers' Records (nytimes.com)
The Internal Revenue Service is preparing to give a team member working with Elon Musk’s so-called Department of Government Efficiency access to sensitive taxpayer data, people familiar with the matter said.

Politics, Government, Privacy, Data Security, Taxes

21 points by 2OEH8eoCRo0 4 days ago | 9 comments

The European VAT Is Not a Discriminatory Tax Against US Exports (taxfoundation.org)
The Trump administration has once again floated the idea of “reciprocal” tariffs on foreign countries.

International Trade, Tariffs, Taxes, Politics, Economics

179 points by dzogchen 6 days ago | 378 comments

Trump Will Seek to End Carried Interest, Expand Salt in Tax Bill (bloomberg.com)
President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including ending the carried interest tax break used by private equity fund managers and expanding the state and local tax deduction.

Politics, Taxes, Finance, Legislation

6 points by blindriver 15 days ago | 5 comments

IRS using AI to make sure people aren't playing the system (2024) (cbsnews.com)
Your 2023 taxes are due in a few weeks, and now the Internal Revenue Service is using a new artificial intelligence tool to make sure people aren't playing the system.

Artificial Intelligence, Government, Taxes

9 points by zo1 15 days ago | 6 comments

Move your company out of Delaware to Nevada or Texas (eladgil.com)
Delaware, with a population of less than 1 million people, is home to over 1.8 million business entities, including more than 60% of Fortune 500 companies.

Business, Finance, Legal, Taxes, State Government

11 points by eladgil 16 days ago | 4 comments

Musk Says He's 'Deleted' Popular Free IRS Tax Filing Program (thedailybeast.com)
President Trump’s “special government employee,” Elon Musk, announced on Monday that he has dissolved the Internal Revenue Service’s free file program, effectively firing the staff who worked on the popular program.

Politics, Taxes, Elon Musk, Government

63 points by standardUser 18 days ago | 12 comments

Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income (truthout.org)
Elon Musk’s Tesla paid a total of $0 in federal income taxes in 2024, new tax reports show, despite the company having raked in billions of dollars in income and being the most valuable car company in the world.

Taxes, Business, Tesla, Elon Musk

318 points by cdme 21 days ago | 236 comments

IRS Expands Its Free Tax Filing Option (nytimes.com)
Tax season opens Monday, and the Internal Revenue Service has announced that it has expanded its free online system for filing 2024 returns directly with the federal government.

Taxes, Government, IRS, Finance

24 points by tech234a 28 days ago | 5 comments

Ask HN: Would you make every country have a wealth tax like Sweden used to (ycombinator.com)
I know that Sweden abolished it in 2007 because so many companies / individuals left Sweden, however, if there was a button that reinstated it for EVERY country in the world, would you press it and why/why not?

Taxes, Economics, Wealth, Politics, Global Policy

8 points by upmind 39 days ago | 42 comments

Spain proposes 100% tax on homes bought by non-EU residents (theguardian.com)
Spain has announced plans to impose a tax of up to 100% on real estate bought by non-residents from countries outside the EU, such as the UK, in an aim to tackle the country’s housing crisis.

Spain, Real Estate, Taxes, Housing Crisis, European Union

162 points by vinni2 39 days ago | 265 comments

What foods are taxed in the UK (gov.uk)
Find out which types of food are zero-rated and which are standard-rated for VAT purposes.

Taxes, UK, Food, VAT

7 points by mayakacz 40 days ago | 1 comments

Tax Heaven 3000, a dating SIM that prepares your federal taxes (taxheaven3000.com)
Do your federal taxes while Romancing your waifu!

Dating Sim, Taxes, Video Games

112 points by crazyexoticrain 45 days ago | 22 comments

Billionaires Have Sidestepped a Tax Aimed at the Rich (propublica.org)
Fourteen years ago, Congress set out to remedy a basic unfairness in the tax code.

Taxes, Wealth Inequality, Billionaires, Politics, Finance

19 points by srameshc 65 days ago | 12 comments

Show HN: Brazilian service to automatically issue NFSe (notasync.com.br)
Emita Notas de Serviço automaticamente das suas vendas Stripe e mantenha suas obrigações fiscais em dia.

Brazil, Business, Taxes, APIs, Software

8 points by valtlfelipe 70 days ago | 3 comments

Crypto Doesn't Deserve a Tax Exemption (bloomberg.com)
If the incoming Trump administration wants to reduce capital gains taxes, then it should lower them across the board.

Cryptocurrency, Taxes, Finance, Politics

37 points by paulpauper 72 days ago | 35 comments

Cloud Computing Tax Threatens Chicago's Silicon Valley Ambitions (yahoo.com)
Chicago’s bid to become the Silicon Valley of the Midwest has registered some major wins in recent years: Google bought a huge downtown building, PsiQuantum Corp. announced a $1 billion investment in the city, and local startups raised a record $19 billion in 2022.

Chicago, Cloud Computing, Taxes, Technology, Startups

5 points by dcgudeman 74 days ago | 1 comments

How One of the Richest Men Is Avoiding $8B in Taxes (nytimes.com)
The chief executive of Nvidia, Jensen Huang, has taken advantage of popular loopholes in the federal estate and gift taxes, which have quietly been eviscerated.

Taxes, Wealth, Business, Finance, Law

12 points by wslh 78 days ago | 4 comments

Self-Funding Harberger Taxes (gwern.net)
Hampering the current life+n years system of unregistered copyrights is the dual problem of mismanagement & orphan works.

Taxes, Copyright Law

99 points by surprisetalk 79 days ago | 92 comments

Norway Shrugged (paragraph.xyz)
Recently, my story as a Norwegian entrepreneur facing an unrealized gains wealth tax bill many times higher than my net income went viral, amassing over 100 million views on X. A few years ago I publicly called out that this tax is both impossible-to-pay and nonsensical, but no politician would listen. So I made the difficult decision to leave my home country.

Norway, Taxes, Entrepreneurship, Politics

8 points by chaosprint 85 days ago | 4 comments

California loses professional workers to low-tax states like Arizona, Texas (nypost.com)
Tens of thousands of professionals left California last year while fewer moved in to the state as the exorbitant cost of living as well as high taxes make it harder to retain talent.

California, Taxes, Migration, Economics

5 points by mikece 88 days ago | 0 comments

America's billionaires are worth a record $6T (usatoday.com)
America’s billionaires are now collectively worth a record $6 trillion. Their wealth has more than doubled since the passage of the landmark Tax Cuts and Jobs Act in 2017.

Economy, Wealth, Billionaires, Taxes

9 points by paulpauper 101 days ago | 3 comments

Sin taxes are suffering from a shortage of sinners (economist.com)
Pity the California taxman. The state has a yawning budget deficit, which politicians are attempting to narrow. Local laws make it difficult to raise taxes, requiring a two-thirds majority. Worse, once-reliable sources of funds are running dry. Fuel-tax revenues are forecast to fall sharply as drivers switch to electric vehicles. Revenues from cigarette taxes have fallen by $500m, or 29%, since 2017; now those from alcohol taxes are dropping, too.

Taxes, California, Economics, Public Finance

41 points by hhs 107 days ago | 78 comments

No More Tax-Free Lunch for Billionaires: Closing the Borrowing Loophole (taxnotes.com)
In this article, Fox and Liscow propose a tax on billionaires that would apply to borrowing against assets and explain how it could be designed and how it relates to other wealth tax proposals, as well as potential critiques.

Taxes, Wealth, Finance, Law, Economics

83 points by tortilla 115 days ago | 44 comments

You May Be Paying a Higher Tax Rate Than a Billionaire (propublica.org)
The very richest Americans win at the tax game no matter which measure you use. ProPublica has published an article, based on a vast trove of never-before-seen IRS information, that reveals the pittance in taxes the ultrawealthy pay compared with their massive wealth accumulation.

Taxes, Wealth Inequality, Finance, Billionaires

16 points by rurp 118 days ago | 10 comments

Tech boom forces US funds to dump shares to avoid breach of tax rules (ft.com)

Finance, Taxes, Technology, United States

13 points by mmarian 119 days ago | 3 comments

Italy declares its "web tax" applicable to any digital service worldwide (reuters.com)
Italy will strengthen its digital services tax as part of plans to raise more revenues in the 2025 budget, Deputy Economy Minister Maurizio Leo said on Wednesday, in a move that could trigger retaliation from the United States.

Italy, Taxes, Digital Services, International Relations, Economics

51 points by kimi 119 days ago | 85 comments

Homeowners who rent on Airbnb must pay 13% tax on property value when they sell (thestar.com)
A recent ruling by the Tax Court of Canada indicates homeowners who have regularly rented out their property on Airbnb or other short-term rental sites will be subject to paying 13 per cent HST when putting the home up for sale.

Real Estate, Taxes, Canada, Airbnb

30 points by chollida1 120 days ago | 6 comments

The IRS just updated its tax rules for 2025. Here's everything you need to know (befluentinfinance.com)
The IRS recently announced its tax bracket adjustments for 2025, and while the changes are subtle, they can still have a significant impact on your finances.

Taxes, Finance, IRS, 2025

11 points by TonyLiberty 122 days ago | 6 comments

Tax on Europe's frequent flyers could raise €64B a year – study (theguardian.com)
A “jet-setter” tax on Europe’s frequent flyers could slow global heating and raise €64bn (£54bn) a year at no extra cost to most people, a report has found.

Taxes, Climate Change, Aviation, Europe

7 points by nmridul 127 days ago | 2 comments