Articles

A federal inspector general has announced an audit of IRS employees to suss out how many of them are cheating on their own taxes. Read More.

Today's CPI inflation report shocked Wall Street and the nation with a significantly higher than expected print. Pollyannas everywhere are painfully learning that there's no magic cure. There's no easy way out. Read More.

We have often wondered why people who appear to be reasonably intelligent when you meet them can do some insanely crazy things and still insist that they are acting in a logical and sane manner. Some of the recent actions taken by our “Leaders” have provided some insight into understanding what is really happening. Read More.

California Gov. Gavin Newsom wants voters to reject a new tax on rich people that would pay for more electric vehicles in the nation’s most populous state, warning in a new statewide TV ad that a measure on the ballot this November won’t help the environment but is instead “one company’s cynical scheme to grab a huge taxpayer subsidy.” Read More.

Louisiana’s House Ways and Means Committee will soon be studying the state’s tax structure with the possibility of eliminating the state’s income tax. Read More.

The Oklahoma Tax Commission (OTC) published various new and amended regulations, effective September 11, 2022, that implement tax legislation enacted in 2021. The regulations impact income tax, credits and incentives, sales and use tax, property tax, excise taxes, and administrative provisions. Read More.

Senate Republicans introduced legislation this week that would prevent the IRS from using the $80 billion in new spending authority it received this year to audit taxpayers who earn less than $400,000 annually. Read More.

The White House is engaging with Senate Democrats about making one last push for an enhanced child tax credit this year — and in return for GOP votes, may dangle support for corporate tax credits for research and development that expired last year, Axios has learned. Read More.

Most Illinois taxpayers will soon be getting onetime income and property tax rebates from the state. Distribution of the money to qualifying residents starts Monday. Read More.

Rudy Salas, D-Calif., a member of the California Assembly running for Congress, has voted for dozens of tax increases despite a pledge not to support tax hikes without voter approval. Read More.

New York State Governor Kathy Hochul, along with legislative leaders, announced $475 million in tax relief for eligible, low-income New Yorkers and families as part of the state’s ongoing effort to combat inflation and improve affordability. Read More.

The Grassroots Corner - Week Beginning 9/12/22: “Congratulations FAIRtax Candidates who won their primaries” Read More.

Electronic tax filing could soon be as simple as a few clicks on a government website — free of charge. The Internal Revenue Service will spend $15 million studying a free, government-backed tax filing system under a provision in the sweeping climate and health-care law Congress passed this summer. Read More.

If you’re one of the millions of Americans expecting student loan forgiveness, you won’t owe federal taxes. But that doesn’t mean you’re off the hook at the state level. Read More.

In 2022, six more states have joined the ranks of those exempting, or partially exempting, military retirement pay from state income tax liability. The move means that nearly 300,000 more military retirees across the nation are now exempt from state income tax. Read More.