Current News

The FAIRtax has always been a remarkable thing. But now, nearly 30 years after its creation, our appreciation of just how remarkable it is continues to grow. Read More.

While the Paycheck Protection Program (PPP) garners most of the attention for small business relief, the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 also created the Employee Retention Credit (ERC), which provided eligible employers a refund on their 2020 federal payroll expenses such as Social Security and Medicare taxes. Read More.

Durable goods orders unexpectedly fell in February Read More.

The tax season just got more confusing. Read More.

“If you paid $14.99 a month for a Zoom Pro membership, you paid more to Zoom than it paid in federal income taxes even as it made $660 million in profits last year.” Read More.

Recently, nationally funded ads misled Pennsylvanians about the FairTax. These ads claimed the FairTax will add 23 percent to the cost of everything. This is true, but the ads omitted the most important part of the tax-reform plan. Read More.

The Internal Revenue Service’s backlog of tax returns is way down, but it’s still significant, according to IRS operations statistics updated yesterday. Read More.

Rettig said the agency hoped to make an official announcement in the ‘near future’ Read More.

President Joe Biden’s economic team at the White House is determined to make good on his campaign pledge to raise taxes on the rich, emboldened by mounting data showing how well America’s wealthy did financially during the pandemic. Read More.

Most American adults can empathize with the plight of Christian Sagers, whose recent editorial aptly describes the horrors of ordinary citizens trying to navigate our ridiculous federal tax code (“Confessions of an honest tax filer (and why the system is absurd),” March 11). Read More.

Commissioner Chuck Rettig also said he expected that people will not have to file amended returns in order to claim a new tax break on jobless benefits. Read More.

It’s official: The Internal Revenue Service has pushed the April 15 tax day deadline to May 17. That means that individuals can postpone filing—and paying—2020 taxes until then. But watch out: The new May 17 due date doesn’t apply to everyone. Read More.

The president said that the proposed tax increase would raise $230 billion Read More.

It is a fact that the federal income tax allows the Swamp and Congress to make huge profits from groups seeking to protect, expand and achieve income tax benefits. Read More.

Rising mortgage rates are also creating headwinds Read More.