Rent seeking is an economic concept that very much explains why many in D.C. resist all attempts to replace the income/payroll tax system with an improved, simpler, fairer system—like the FAIRtax.
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Roughly 4.4 million people will soon receive checks from TurboTax, following a 50-state settlement with parent company Intuit for allegedly steering millions of low-income Americans away from free tax-filing services. Read More.
A group of Senators is urging the IRS to take action on the potential use of artificial intelligence (AI) in scams targeted at taxpayers and tax professionals. Read More.
Florida lawmakers have negotiated a nearly $1.3 billion tax package for next fiscal year that includes expanding popular shopping sales-tax “holidays,” trimming a commercial lease tax and cutting costs of diapers for babies and adults. Read More.
The Minnesota Senate passed its tax bill on Tuesday and will now seek to iron out differences between its plan and those of the Minnesota House and Gov. Tim Walz. Read More.