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Federal Tax Updates Archive

One Oregon Gubernatorial Candidate Won’t Hand Over Tax Returns

TweetShareSharePin0 Shares Of the three candidates for Governor of Oregon this year, only one won’t hand over their tax returns. Willamette Week shared details about the publication’s attempt to secure tax return copies from all three candidates in this year’s race — Republican Christine Drazan, Democrat Tina Kotek, and Independent Betsy Johnson. Former Democratic state Senator Johnson, however,

New Buyback Excise Tax Snares Foreign Investors

TweetShareSharePin0 Shares The Inflation Reduction Act (IRA) approved by Congress last week included a new 1 percent stock buyback excise tax on US publicly traded corporations. Many of these companies now spend their excess cash to repurchase stock from their shareholders, rather than pay dividends or invest more in their firms. The new tax will

Does Your State Have a Marriage Penalty?

TweetShareSharePin0 Shares Today’s map zeroes in on states that have a “marriage penalty” in their individual income tax brackets. Under a graduated-rate income tax system, a taxpayer’s marginal income is subject to progressively higher tax rates. A marriage penalty or “marriage tax penalty” exists when a state’s income brackets for married taxpayers filing jointly are less than

Trump CFO Expected to Plead Guilty to Criminal Tax Charges

TweetShareSharePin0 Shares Former Trump Organization CFO Allen Weisselberg is expected to plead guilty to criminal tax charges in New York as early as Thursday, August 18. Late last week, it was announced that Weisselberg’s trial would begin in Manhattan on October 24 after a motion for dismissal of the charges was denied.  Bloomberg shared details: Weisselberg

Biden Will Sign The Inflation Reduction Act This Week

TweetShareSharePin0 Shares All that remains is President Biden’s signature. The House passed the climate, health, and tax Inflation Reduction Act (IRA) on Friday, and Biden plans to sign it into law this week. It includes a book minimum tax on very large corporations, a tax on corporate stock buy-backs, and dozens of energy tax credits. 

Republicans Demand Public Release of Mar-a-Lago Search Warrant

TweetShareSharePin0 Shares Republicans have stepped up demand for the public release of the search warrant the FBI used to raid former President Trump’s Mar-a-Lago residence in Florida. Earlier this month, the Washington Post reported that the FBI executed its search warrant after “federal authorities grew increasingly concerned that Trump or his lawyers and aides had not, in fact,

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