Current News

Democrats are poised to approve their first big tax break of this year — but it’s not any of the ones they’ve spent so much time talking about. Read More.

So you didn’t win the $555 million Mega Millions jackpot Tuesday night. The glass half-full view? Phew! You dodged a huge tax bill. Read More.

Sen. Rand Paul, R-Ky., is out with a new report showing the Democrats' proposed tax hike on pass-through entities would fall disproportionately on small businesses. Read More.

Whether you work as a salaried employee or receive income from a pension, commission or other sources, understanding how much tax should be withheld from your earnings is crucial. Read More.

John W. Childs is the Chairman of J.W. Childs Associates, L.P., a private equity and special situation investment firm founded in 1995, currently focusing on life science, real estate and consumer brands investments. Previously, John was Senior Managing Director of the Thomas H. Lee Company from 1987 to 1995, where he had broad responsibilities for originating, analyzing, negotiating, and managing leveraged buyout transactions, such as Snapple and General Nutrition Company. Read More.

The Estate Tax is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death (Refer to Form 706PDF (PDF)). The fair market value of these items is used, not necessarily what you paid for them or what their values were when you acquired them. Read More.

The estate tax, sometimes also called the "death tax," is a tax that's levied on the transfer of a deceased person's assets. In 2022, the federal estate tax ranges from rates of 18% to 40% and generally only applies to assets over $12.06 million. Read More.

Nearly a month ago, President Joe Biden stood behind a White House podium and asked Congress to move swiftly to pause federal gas taxes to ease prices during the busy summer travel season. Congress’ response: No thanks. Read More.

As the cost of living surges, Americans wrestle with higher prices on day-to-day costs, including groceries, housing and gasoline. But there’s another sneaky expense — higher taxes — that may be costly for some taxpayers. Those most at risk of a tax-related surprise include retirees, high earners, homeowners and residents of particular states. Read More.

WASHINGTON — In June, months after reluctantly signing on to a global tax agreement brokered by the United States, Ireland’s finance minister met privately with Treasury Secretary Janet L. Yellen, seeking reassurances that the Biden administration would hold up its end of the deal. Read More.

SACRAMENTO — A ballot initiative that would have raised taxes on California millionaires and billionaires to fund public health programs and pandemic prevention is dead — at least for this year. Read More.

In its final 2022 Filing Season Statistics report, the IRS stated that it has processed more than 140 million individual income tax returns, including more than 96 million refunds for a total of over $282 billion, with an average refund of $3,039. Read More.

Sen. Joe Manchin III (D-W.Va.) told Democratic leaders Thursday he would not support an economic package this month that contains new spending on climate change or new tax increases targeting wealthy individuals and corporations, marking a massive setback for party lawmakers who had hoped to advance a central element of their agenda before the midterm elections this fall. Read More.

HARRISBURG — When Gov. Tom Wolf and the Republican-led legislature hammered out the $45.2 billion budget deal in early July, they delivered a historic windfall to a popular tax credit program that underwrites scholarships for Pennsylvania students to attend private schools. Read More.

The Grassroots Corner - Week Beginning 7/18/22: “Mississippi Tax Cuts” Read More.