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Federal Tax Updates Archive

How Can Congress Protect Families Who Receive Excessive Child Tax Credit Payments?

TweetShareSharePin0 Shares Families began receiving monthly Child Tax Credit (CTC) payments on July 15. For many, those regular payments—currently permitted through the end of the year—will combat poverty and help families keep current on monthly bills without having to borrow. But because the CTC depends on income, number of children, and marital status, some changes

Will FDII Stay or Will it Go?

TweetShareSharePin0 Shares Last week the Organisation for Economic Co-operation and Development (OECD) released an updated list of “Harmful Tax Practices” that have been identified as part of a country peer review process. One notable element of the recent list states that the United States has committed to abolish the deduction for Foreign Derived Intangible Income

Infrastructure Nears A Vote And The Reconciliation Process Begins

TweetShareSharePin0 Shares Infrastructure and Investment Jobs Act poised for Senate passage. The Senate is expected to pass the bipartisan $1 trillion infrastructure bill today. Will there be a cryptocurrency reporting deal? Yesterday, senators and the Biden Administration appeared to reach a compromise after the crypto industry opposed the original reporting requirements backed by the White

Infrastructure Bill’s Amendment Debate Continues Into This Week

TweetShareSharePin0 Shares Tennessee Senator slows amendment debate after CBO report on deficits. Republican Sen. Bill Hagerty opposed the bipartisan infrastructure bill because of a Congressional Budget Office (CBO) score finding it would increase the deficit by $256 billion. The bipartisan group of senators who developed the deal said it would be fully offset. Said Hagerty,

Wish You Could Finance Your Studies?

TweetShareSharePin0 SharesWish You Could Finance Your Studies? Financing College Many people have avoided college because they though they couldn’t afford tuition. While college is expensive there is no reason a student should let money put a stop to their education. There are many sources that help fund a person’s college. Federal financial aid, scholarships and

Seven Key Tax Deductions for the Self Employed

TweetShareSharePin0 SharesSeven Key Tax Deductions for the Self Employed As a sole proprietor, it*s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004. Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements. But you should also meet with

Business Outsourcing Labor Criticism Issues

TweetShareSharePin0 SharesBusiness Outsourcing Labor Criticism Issues Many people believe business outsourcing to companies outside of the United States is not right and we should hire our own citizens. Many of the accusations are regarding keeping the money in the U.S., dodging taxes, and more. When a company uses business outsourcing for their project needs, customer
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