Current News
Democrats’ IRS bank account monitoring plan would affect 87M Americans, analysis shows
The IRS bank-reporting plan will likely be omitted from the final BBB Read More.
Americans donated $2.7 billion on ‘Giving Tuesday.’ Here’s how donors can score a write-off if they don’t itemize deductions
Americans opened their hearts and wallets for another record-breaking Giving Tuesday. It’s estimated that 35 million U.S. adults participated in 2021, with total gifts of $2.7 billion, a 9% increase from 2020.
Read More.
New Higher Estate And Gift Tax Limits For 2022: Couples Can Pass On $720,000 More Tax Free
The official estate and gift tax exemption climbs to $12.06 million per individual for 2022 deaths, up from $11.7 million in 2021, according to new Internal Revenue Service inflation-adjusted numbers. And the gift tax annual exclusion amount jumps to $16,000 for 2022, up from $15,000 where it’s been stuck since 2018.
Read More.
Economists dial up inflation targets amid rising wages, strong consumer demand: NABE
NABE panelists project overall consumer price index will rise 6% year-over-year in fourth quarter Read More.
The Grassroots Corner December 6, 2021
🇺🇸 The Grassroots Corner - Week Beginning 12/06/21: “Vendors Wanted!” Read More.
Global tax deal leaves billion-dollar loopholes, Reuters analysis finds
DUBLIN, Dec 3 (Reuters) - Leaders of the world’s largest economies hailed a recent agreement to overhaul global corporate tax rules as key ensuring multinationals paid their fair share of tax. Read More.
The Chairman’s Report December 3, 2021
To become law, the FAIRtax will need to pass by a majority vote in the House of Representatives, by a majority vote in the Senate and then be signed by the President. However, passing legislation in the Senate often requires more than a simple majority of 51 Senators in favor of a bill. Read More.
I bought my home for $30,000, but now it’s worth almost $3 million. How can I avoid a massive tax bill?
Capital gains aren’t the only factor to consider in anticipating the tax burden of an inherited home. Read More.
Twitter CEO Jack Dorsey is expected to step down, sources say
Twitter CEO Jack Dorsey is expected to step down from his executive role, sources tell CNBC’s David Faber. Read More.
IRS Announces 2022 Tax Rates, Standard Deduction Amounts And More
The Internal Revenue Service has announced annual inflation adjustments for tax year 2022, meaning new tax-rate schedules and tax tables and cost-of-living adjustments for various tax breaks. Most numbers are up more than in recent years because of higher inflation. Read More.
Stocks rebound as omicron fears ease, oil jumps
Pending home sales for October due at 10am ET Read More.
Do you have more than $600 in your bank account? IRS could be tracking your transactions
Do you have more than $600 in your bank account? Well, that money could now raise a red flag, giving the government the right to track your spending. Read More.
The Grassroots Corner November 29, 2021
🇺🇸 The Grassroots Corner - Week Beginning 11/29/21: “CPAC: Call to Action” Read More.
Stocks crater as new COVID-19 variant triggers market sell-off
US stocks will close for trading at 1 pm ET on Friday Read More.
The Chairman’s Report November 26, 2021
From all of us at Americans for Fair Taxation Read More.
