Articles

After more than a year of trying — and failing — to pack much of President Biden’s domestic agenda into a single tax-and-spend bill, Democrats appear to have finally found a winning combination. Read More.

Georgia residents can now claim embryos as dependents on their state taxes, the state's Revenue Department announced Monday. Read More.

The energy and health care deal from Sens. Joe Manchin and Chuck Schumer would raise taxes on millions of Americans earning less than $400,000 annually, Senate Republicans say, citing nonpartisan data. Read More.

Sen. Joe Manchin, a Democrat from West Virginia, defended Democrats' new climate and tax deal from criticisms that it will raise taxes across all income brackets and harm the economy, saying the package unveiled last week is "all about" combating inflation. Read More.

Despite crushing inflation and the threat of a looming recession, Massachusetts lawmakers early Monday morning temporarily shelved delivering tax relief to Bay Staters — after promising just weeks ago to send stimulus checks to middle-income residents. Read More.

The Grassroots Corner - Week Beginning 8/2/22: “Meet Candidate And Pledge Signer Steven Elliott” Read More.

WASHINGTON (Reuters) -A Senate Democratic deal includes a new $4,000 tax credit for used electric vehicles and other new tax credits and grants for automakers to retool factories to build greener cars. Read More.

Yesterday the IRS issued a statement acknowledging that “some payments made for 2021 tax returns have not been correctly applied to joint taxpayer accounts, and these taxpayers are receiving erroneous balance due notices (CP-14 notices) or notices showing the incorrect amount.” Read More.

Merriam-Webster defines the term recession as a period of reduced economic activity. In technical terms, a recession is generally considered to represent two consecutive quarters of economic decline, as reflected by GDP. First quarter 2022 GDP decreased at an annualized rate of 1.5% according to the U.S. Bureau of Economic Analysis. Read More.

Section 6 of the IRS Data Book provides an overview of IRS budget activities, including taxpayer services, enforcement, operations support, and business systems modernization. The section also includes information on the size and composition of the IRS workforce. Read More.

Congressional approval of at least one part of the OECD-led global tax deal is in jeopardy after Sen. Joe Manchin (D-W.Va.) said he wouldn’t back tax hikes in reconciliation due to inflation. Read More.

Sens. Pat Toomey (R-Pa.) and Kyrsten Sinema (D-Ariz.) introduced legislation on Tuesday that would exempt small crypto purchases from a capital gains tax. Read More.

The Grassroots Corner - Week Beginning 7/18/22: “Making it easier to get involved at a National Level” Read More.

Apple has settled its lawsuit with Chicago over the city’s so-called “Netflix tax,” according to a report from The Hollywood Reporter. The tax placed a 9 percent levy on “amusements that are delivered electronically” — essentially targeting streaming services. Read More.

The tax burden for funding state government and public schools in New Mexico is shifting slightly toward wealthier residents as the state stops collecting taxes on most Social Security benefits. Read More.