Flake demands reforms to ‘burdensome’ tax code
Sen. Jeff Flake (R-Ariz.) called for reforms to the U.S. tax code on Tax Day.“Tax day is another unfortunate reminder of the need to reform our burdensome tax code,” Flake said. Flake said Congress...
View ArticleThe 'single most hated' day of the year?
Rep. Kevin Brady (R-Texas) on Tuesday called April 15, the deadline to file tax returns, "the single most hated day of the year for American families."Brady said the complex tax code results in long...
View ArticleBusiness expense bill would create 200K jobs, NFIB says
The National Federation of Independent Business (NFIB) said Monday that 200,000 jobs would be created and economic output would increase by as much as $18.6 billion if Congress were to permanently...
View ArticleRepublicans will need to select their priorities carefully when it comes to...
The outlines of the Republican tax plan released last week represent a much better start on major legislation than the president and Congress have had in other areas. But the stated principles behind...
View ArticleSenate bill tops House on business taxes but falters on income
Senate Republicans have released a very different plan for major tax reform compared with the House’s efforts last week.As analysts pore over the static financial implications for different model...
View ArticleTale of two tax reform plans must end with passed bill
Now that House and Senate tax writers have unveiled their respective reform bills, the pieces are falling into place to pass legislation before year-end and deliver on a major campaign promise.Where do...
View ArticleFranken: Tax bill is bad for Minnesota cabin owners
Sen. Al Franken (D-Minn.) on Wednesday bashed Republican tax-reform proposals as harmful for cabin owners in his home state.“In Minnesota, heading up to a cabin on the weekend isn’t just another thing...
View ArticleIRS: 2018 property taxes deductible if assessed and paid in 2017
The Internal Revenue Service (IRS) announced Wednesday that homeowners can deduct their prepaid 2018 state and local property taxes on their 2017 returns if the taxes are assessed and paid this year,...
View ArticleBlue states take note — residency may crater as state taxes rise
Egads! Have you heard the terrible news? President Trump’s tax cuts are having an unexpected effect for residents in many states: Families’ state income tax burden is going up. It’s not due to a...
View ArticleTrump tax cuts help state revenues rebound
State governments are collecting more in tax revenues than their pre-recession peak, thanks to both a booming economy and the 2017 Republican tax cuts, according to a new report. Forty-one states are...
View ArticleHouse panel to consider temporarily repealing SALT deduction cap
The House Ways and Means Committee is scheduled on Wednesday to consider legislation that would temporarily repeal a portion of Republicans' 2017 tax-cut law, which is disliked by politicians in...
View Article2 in 3 want to see Trump tax returns: poll
Two in three respondents said in a new poll that they want to see President Trump’s tax returns, following recent split Supreme Court decisions.The Reuters-Ipsos poll released Wednesday found that 66...
View ArticleTrump didn't pay income tax for 10 of 15 years before 2016 election: NYT
President Trump paid no income taxes for 10 of the 15 years before he was elected president, and just $750 a year in 2016 and 2017, according to The New York Times, which obtained the president's tax...
View ArticleBiden campaign sells 'I paid more income taxes than Trump' stickers
Democratic presidential nominee Joe Biden's campaign is selling stickers that mock President Trump over a bombshell New York Times report that finds he avoided paying income taxes for 10 of the 15...
View ArticleTop House Republican calls for probe of source of NYT Trump tax documents
Rep. Kevin Brady (R-Texas) called on Monday for a probe into the sources of The New York Times story that detailed two decades worth of President Trump's tax records and financial dealings.Brady, the...
View ArticleTreasury estimates tax gap of $600B in 2019
The Treasury Department estimated that the gap between taxes owed and taxes paid on time was about $600 billion in 2019 as it provided more details on Thursday about President Biden's plan to...
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