Articles
Are medical expenses tax deductible? Generally yes, under 2
conditions
If you were burdened by sizable medical bills or health expenses
during 2020, there may be some financial relief available to you
come tax season. Read More.
Tax season: What the IRS says clients and advisors can expect
Taxpayers can expect a smooth filing season despite monumental
challenges in getting pandemic relief to millions of people,
according to the nation’s top tax official. Read More.
Study: Coronavirus Pandemic Has Created Tax Problems That Could
Get Much Worse in 2021
Americans struggling to repay their 2019 taxes in the midst of a
recession has been just another issue to deal with during the
coronavirus pandemic. Read More.
The Chairman’s Report February 19, 2021
For many years, the IRS audit rate has been falling, and in 2019,
the individual audit rate was down to just 0.45% of returns. Read More.
Bill Knight: Without the Fair Tax, are there fiscal ideas?
These are taxing times; times when we face not just a
public-health crisis, but higher taxes – or lower levels of
public services. Read More.
Biden shutting Dakota Access pipeline would cause food prices to
spike
The pipeline is currently under environmental review Read More.
Here’s Where $1,400 Stimulus Checks, $15 Minimum Wage And The
Rest Of Biden’s $1.9 Trillion Rescue Plan Stand Today
Lawmakers in Washington are moving forward with President Biden’s
$1.9 trillion stimulus plan, even amid a heated impeachment trial
and over Republican objections. Here’s what you need to know. Read More.
Jobless claims worse than expected as pandemic-related filings
surge
First-time claims for unemployment insurance totaled 793,000 last
week as declining Covid-19 cases provided little relief for the
jobs market. Read More.
Gas hits highest price in 12 months as progressives, celebrities
pressure Biden to cancel more pipelines
Gas Buddy analyst: ‘Prices are likely to continue rising in the
weeks and months ahead’ Read More.
The Grassroots Corner February 15, 2021
🇺🇸 The Grassroots Corner - Week Beginning 2/15/21: “Time to Start
Planning the FAIRtax Season” Read More.
The Chairman’s Report February 12, 2021
The national minimum wage was first mandated by the Fair Labor
Standards Act in 1938. This federal law provided for not only
the minimum wage but also overtime pay. Read More.
State And Local Tax Deduction Limit Repeal As COVID Relief
In the latest episode of the long-running soap opera over the
state and local tax deduction, the New Jersey delegation to the
House framed removing the current deduction limit of $10,000 as
COVID relief in a letter to House Speaker Nancy Pelosi, D-Calif.,
and Senate Majority Leader Charles E. Schumer, D-N.Y. Read More.
Budget Office Expects $2.3T Deficit Before Biden Relief Plan
The Congressional Budget Office says the federal government is on
track for a $2.3 trillion deficit this year, down roughly $900
billion from last year when the coronavirus caused Congress to
provide historic amounts of financial aid. Read More.
U.S. Debt on Track to Hit a Record 107% of GDP by 2031, CBO Says
Deficit for fiscal 2021 will come to $2.3 trillion, almost $900
billion less than projected earlier, as economy revives Read More.
Taxing time: How the pandemic will affect filing your taxes
The pandemic has made everything a bit trickier — tax filing
season is no exception. Read More.
