Federal Tax Updates Archive
Keeping The Government Open | Tax Policy Center
September 30, 2022
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TweetShareSharePin0 Shares Senate passes stopgap spending bill, House will vote today. The Senate passed a continuing resolution to fund the government until Dec. 16. The bill now moves on to the House, which is likely to approve the measure today. Well, that didn’t take long. Sen. John Barrasso and 11 GOP colleagues introduced a bill
IRS Officially Issues Tax Relief to Victims of Hurricane Ian
September 30, 2022
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TweetShareSharePin0 Shares The Internal Revenue Service (IRS) has officially issued tax relief to those impacted by Hurricane Ian. According to an official release, victims impacted by the storm — which ravaged Fort Myers, Naples, Sanibel Island, and other Southwest Florida communities — now have until February 15, 2023 to file a variety of business and
As States File Lawsuit, Biden Administration Scales Back Student Loan Forgiveness
September 30, 2022
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TweetShareSharePin0 Shares Last month, the Biden administration formally announced a student loan forgiveness plan to eliminate $10,000 to $20,000 worth of debt for qualified borrowers. The news originally came on the heels of the signing of the Inflation Reduction Act of 2022, a sweeping tax and climate bill that was passed along party lines without the support of a
AZ Gov. Rolls Out Tax Cuts a Full Year Ahead of Schedule
September 30, 2022
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TweetShareSharePin0 Shares Arizona Governor Doug Ducey (R) has ordered that his massive income tax cut go into effect a full year ahead of schedule. In a letter to Arizona Department of Revenue Director Robert Woods, Ducey’s office stated, “In July 2021, I signed a historic tax reform package that secures the lowest flat rate tax
Four Conspirators Plead Guilty to Multi-Million Dollar Dept. of Education Fraud
September 30, 2022
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TweetShareSharePin0 Shares Four conspirators have pleaded guilty to a multi-million dollar fraud scheme involving federal financial aid from the Department of Education. The IRS Criminal Investigation division shared an official release with details of the case against Sandra Anderson, of Palmetto, Georgia, Yolanda Thomas, of Columbus, Georgia, Leo Thomas, of Phenix City, Alabama, and Kristina Parker,
Educação + impostos = vidas transformadas: the Tax Justice Network Portuguese podcast
September 29, 2022
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TweetShareSharePin0 Shares Welcome to our monthly podcast in Portuguese, É da sua conta (‘it’s your business’) produced and hosted by Grazielle David and Daniela Stefano. All our podcasts are unique productions in five different languages – English, Spanish, Arabic, French, Portuguese. They’re all available here. Here’s the latest episode: Educação + impostos = vidas transformadas #41 A crise global da educação foi tema da Cúpula da Educação Transformadora
Cannabis Tax Revenue Is Down In Some States—And Maybe That’s Okay
September 29, 2022
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TweetShareSharePin0 Shares After years of growth, some states saw cannabis tax collections decline for the first time in fiscal year 2022. But, while politicians occasionally promote marijuana taxes merely as a cash cow for state and local governments, the real story is more complicated. And those revenue declines may even suggest policy success. Regardless, falling
The “Inflation Tax” Is Regressive | Inflation Effects
September 29, 2022
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TweetShareSharePin0 Shares Inflation operates much like a tax, a particularly egregious one that disproportionately falls on the poor and leads to a variety of economic problems, including, as we’re seeing, higher interest rates, slow economic growth, and reduced incomes. With inflation still running high, it is worth exploring who bears the cost of the surge
Hitting The Road; Making Good Use of Time and Money
September 29, 2022
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TweetShareSharePin0 Shares Getting ready to get out of town. The Senate could vote as soon as tomorrow on a continuing resolution to keep the government funded until mid-December. The House still will need to vote before the government runs out of money on Friday night. Once the measure is approved, Congress is expected to leave
Donald Trump Paid Fewer Taxes Than Americans Making $20,000 a Year
September 29, 2022
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TweetShareSharePin0 Shares Former President Donald Trump, who is worth billions of dollars, paid fewer taxes than Americans earning under $20,000 per year. According to data from The New York Times, Trump paid a grand total of $750 in personal income taxes in 2016 and 2017. The average household making approximately $20,000 per year paid $819
