Articles

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The Chairman’s Report November 4, 2022
When most people are elected to Congress, they undergo a transformation. Before they arrived in D.C., they were people more like us and most. Read More.
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Powerball jackpot climbs to $1B. Here's the tax bite if you win
For the second time ever in Powerball's 30-year history, the jackpot for the Monday night drawing is a staggering $1 billion. Read More.
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Republican Tax Writers Fear Funded IRS May Surveil Bank Accounts
Two Republican members of the House of Representatives Ways and Means Committee questioned whether the IRS intends to use its $80 billion in additional funding from the Inflation Reduction Act (PL 117-169) to surveil American bank accounts. Read More.
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40% of households will pay no federal income tax this year. Why that’s good news.
Millions of workers are bouncing back — and making enough money to pay Uncle Sam. Some 72.5 million households or 40% of households will pay no federal income tax this year, down from the pre-pandemic high of 60% two years ago, according to new estimates from the Tax Policy Center. Read More.
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Companies Seek Guidance on New U.S. Minimum Tax as Launch Date Nears
With just over two months before the new corporate minimum tax is set to go into effect, companies are asking the U.S. government for guidance on its scope and the potential impact of business transactions such as split-offs. Read More.
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IRS hires 4,000 customer service workers ahead of tax season
The IRS said Thursday it has hired an additional 4,000 customer service representatives who are being trained to answer taxpayer questions during the 2023 tax filing season. Read More.
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Dozens of Democrats call for action on child tax credit during lame-duck session
Dozens of House Democrats are calling on caucus leadership to extend the enhanced child tax credit in the lame-duck session, as lawmakers look to tick off more legislative priorities in the final weeks of the current Congress. Read More.
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Judge affirms decision to invalidate proposed Hillsborough transportation tax referendum on ballot
A Hillsborough County judge has affirmed her decision to invalidate the proposed transportation tax referendum on November's ballot. Read More.
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The Grassroots Corner October 31, 2022
The Grassroots Corner - Week Beginning 10/31/22: “FAIRtax-ers meet with more State Legislators” Read More.
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The Chairman’s Report October 28, 2022
We constantly hear about the top 1% or top 10% of Americans as politicians work to divide our country, pitting one group of constituents against another. My sister-in-law reminded me recently that all too often, government policy is based on how it affects the top 10%. The remaining 90%, many of whom are honest, hard working Americans doing the best they can to provide for themselves and their families, are ignored. Read More.
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DeSantis pledges to implement permanent tax cuts in only debate with Crist
Florida Gov. Ron DeSantis and former Republican governor and now Democratic Congressman Charlie Crist sparred Monday night in a lively one-hour debate full of personal attacks and interrupted by raucous audience members interjecting jeers and name-calling. Read More.
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Pa. election 2022: Where governor candidates stand on gas tax, business regulations, and property taxes
As inflation has soared to its highest levels in 40 years, driving up the price of groceries and gas and squeezing household budgets, Pennsylvanians have consistently identified the economy as one of the top issues influencing their choice in the 2022 governor’s race. Read More.
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Tax changes mean brighter future for retirement savings
Last week the Internal Revenue Service (IRS) announced new limits on various tax advantaged saving vehicles, such as IRAs and 401(k) contributions, for 2023. Read More.
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Here’s what investors need to know about the latest crypto tax reporting rules for 2022
The IRS is sharing more details on how to report digital assets for the 2022 tax filing year, according to draft instructions. Since 2019, there’s been a yes or no “virtual currency” question on tax returns, requiring filers to check a box to disclose their taxable crypto activity. Read More.
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Tax relief: Gov. DeSantis extends property tax payments for victims of Hurricane Ian
Florida Gov. Ron DeSantis — who held a news conference at Doc Ford’s Rum Bar & Grille in Lee County — announced an executive order to extend deadlines for property taxes to people whose homes or businesses have been rendered unusable due to damage caused by Hurricane Ian, News4JAX sister station WKMG Click Orlando reports. Read More.

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