federal taxes Archive

Government Funding, Returns, Audits, And A New Tax For Now

TweetShareSharePin0 Shares Modest progress in spending talks. Senate Majority Leader Chuck Schumer said he’s encouraged. House Speaker Nancy Pelosi said she still hopes that Congress will address the debt limit in a bipartisan manner, ideally this year, but a year-long spending bill is a higher priority. She told reporters, “If we can’t have a solution,

IRS Says Americans Should Prepare For Smaller 2023 Tax Refunds

TweetShareSharePin0 Shares The IRS recently issued a news release urging Americans to prepare for smaller tax refunds in 2023. Credit: Hisham Ibrahim/Getty Images According to the tax agency, American taxpayers who take the recently-increased standard deduction, as opposed to itemizing, will no longer be able to deduct their charitable contributions. Furthermore, the American Rescue Plan Act of

Joel Greenberg Sentenced to 11 Years In Federal Prison

TweetShareSharePin0 Shares Disgraced Seminole County, Florida tax collector, Joel Greenberg, has been sentenced to 11 years in federal prison. Credit: Olga Ihnatsyeva/Getty Images ABC News confirmed that Gaetz’s sentence was handed down on Thursday, December 1. Last May, the former associate of controversial Republican Representative Matt Gaetz pleading guilty to multiple crimes ranging from wire fraud

Rishi Sunak UK Tax Plan: Details & Analysis

TweetShareSharePin0 Shares In two months, the United Kingdom has had two new tax plans, two new Prime Ministers (Liz Truss, then Rishi Sunak), and two new Finance Ministers (Kwasi Kwarteng, then Jeremy Hunt). The Truss-Kwarteng tax proposal would have lent modest support to real economic growth, cushioning economic fallout from the Bank of England’s overdue

House Receives Trump’s Tax Records, Treasury Dept. Complies With Court Order

TweetShareSharePin0 Shares The House of Representatives Ways and Means Committee has officially received Donald Trump’s tax records following last week’s ruling by the Supreme Court. Credit: Joe Raedle/Getty Images Trump, who reportedly wanted the IRS to investigate his political foes during his Presidency from 2017 to 2021, and his legal team have done everything in their power

Texas Lt. Gov. Proposes $60,000+ Homestead Exemption For Taxpayers

TweetShareSharePin0 Shares As January’s Texas legislative session approaches, Lieutenant Governor Dan Patrick (R) is prioritizing tax relief. His primary suggestion? Raising the general homestead exemption from $40,000 to $60,000 or $65,000. Credit: Bo Zaunders/Getty Images Kera News for North Texas reported that Patrick unveiled his priorities on November 30, acknowledging many of the things he would like

EU Subsidies & Inflation Reduction Act

TweetShareSharePin0 Shares French President Macron is coming to Washington, D.C., this week to ask President Biden the question on the minds of European leaders: “Why did you do this to us?” When President Biden signed the Inflation Reduction Act into law, he put many European companies at a disadvantage unless they move production to the

Making The TCJA’s Individual Tax Cuts Permanent Would Add More than $3 Trillion To The Federal Debt, Mostly Benefit High-Income Households

TweetShareSharePin0 Shares During the recent congressional election campaign, House Republicans said one of their top priorities would be to make permanent the individual tax changes in the 2017 Tax Cuts and Jobs Act (TCJA). A new analysis by the Tax Policy Center estimates that such a move would add more than $3 trillion to the

All They Want For Christmas Is A Spending Deal

TweetShareSharePin0 Shares “Here to Christmas:” Will Congress extend its Dec. 16 funding deadline? After a leadership meeting at the White House, Senate Majority Leader Chuck Schumer declined to say whether he’d push for a short-term spending bill or a year-long deal. Minority Leader Mitch McConnell is still mulling whether to strike a deal with Democrats.

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