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federal taxes Archive

Biden Infrastructure Spending Plan Offsets Small Portion of the Cost

TweetShareSharePin0 Shares As Congress considers turning the $579 billion bipartisan infrastructure deal and President Joe Biden’s $2.2 trillion American Jobs Plan (AJP) into legislative text, policymakers may consider using additional tax revenue generated from infrastructure spending to offset the plans’ deficit impact. Applying dynamic scoring to the spending side of the proposals would only generate

Cost Of Professional Tax Filers-Is It Worth The Deduction

TweetShareSharePin0 SharesCost Of Professional Tax Filers-Is It Worth The Deduction Each year, come April 15th, millions of hard working, red-blooded Americans file federal and state income taxes to compute the amount of money they either owe the government or the amount they will refunded. Because the laws change every year and the U.S. tax code

How Biden Business Tax Proposals Would Impact Taxpayers Across States

TweetShareSharePin0 Shares The Biden administration has proposed several tax increases on businesses, whether structured as C corporations subject to the corporate income tax or passthrough entities such as S corporations, partnerships, or sole proprietorships that are subject to the individual income tax. It is important to remember that those business taxes ultimately fall on people,

Corporate Audits, Free Filing, and Federal Aid

TweetShareSharePin0 Shares Corporations have been claiming more “uncertain” tax breaks in recent years.  With IRS  audits down, corporations are being increasingly aggressive in their tax positions, according to  a Washington Post analysis of corporate filings. The IRS used to audit nearly every  large corporation tax return, but it now audits only about half.  As a

A Wednesday Deadline for an Infrastructure Deal?

TweetShareSharePin0 Shares Setting Senate deadlines. Majority Leader Chuck Schumer scheduled a test vote for next  Wednesday on a roughly $1 trillion infrastructure package, even though the bill hasn’t been written yet. And he’s pushing Democrats to resolve disputes by next week over details of the $3.5 trillion budget reconciliation bill he wants to use to
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