Current News

Companies are asking lawmakers to repeal a change in the tax code that requires businesses to spread their research-and-development costs over five years rather than deduct them immediately. Read More.

In October, millions of Californians were to start receiving relief payments of up to $1,050 as part of the state's "Middle Class Tax Refund." But now it's November, and many Golden State residents are still waiting. Read More.

Early this year, Benson Gitau, owner of Houston appliance reseller Vendapp, noticed that his suppliers were no longer accepting payments through Venmo, PayPal or Cash App. “They’d just say, ‘I prefer Zelle,’” he says. Read More.

President Joe Biden’s threat to impose a windfall profits tax on oil companies is unlikely to pass in the U.S. Congress, even if Democrats defy forecasts and manage to maintain their razor-thin majority in midterm elections on Nov. 8. Read More.

Nova Scotia has picked the annual Christmas tree it's sending our way this year — and she's a beaut! Is it too early for holiday music? [Checks the forecast this weekend.] Yup, definitely still too early. Read More.

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today issued three additional notices requesting public input on key climate and clean energy tax incentives in the Inflation Reduction Act. Read More.

Georgia’s governor extended the suspension of the state’s motor fuel tax for yet another month through Dec. 11. The announcement came Friday with two executive orders from Gov. Brian Kemp, who is running for re-election against Democrat Stacey Abrams. Read More.

The Grassroots Corner - Week Beginning 11/7/22: “Famous Americans who would still be citizens if we had the FAIRtax” Read More.

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.

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.

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.

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.

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.

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.

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.