Posts tagged as:

Congress

Super Committee: Obama’s Opening Bid on Taxes

10 August 2011

(Quick note from the taxgirl: Guest post by Brash Tax in response to the debt ceiling crisis and the Congressional fix. The post was submitted prior to any Super Committee nods or whispers.) Lawmakers are drawing baselines in the sand even before the Super Committee is named.  The distinctions among budget baselines are significant.  But [...]

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IRS, Congress Now Say No to Ticket Tax Refunds

8 August 2011

Never look a gift Congress in the mouth. What they give today can always be taken away. And if you know Congress, it probably will. Remember the whole Federal Aviation Administration (FAA) ticket tax fiasco? Here’s a brief recap: Congress, squabbling over unions and subsidies, failed to pass a budget for the FAA so that [...]

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Five Things You Need To Know About the Current Airline Ticket Tax Controversy

27 July 2011

I’ll be honest: until about a week ago, I had virtually no clue how aviation-related taxes were imposed or collected. Thanks to Congress, the Air Transportation Association of America (ATA) and the IRS, I’m getting educated pretty quickly. Here are five things you need to know about the current ticket tax controversy: 1. Ticket taxes [...]

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Congress Tells Airlines To Stop Pocketing Extra Fares

27 July 2011

Just a few days ago, we found out exactly what airlines thought of consumers when, after a lapse in the law allowed travelers to catch a bit of a break, a number of major carriers found a way to turn it to their advantage. The glitch meant that airlines wouldn’t be collecting taxes while the [...]

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Congress Offers Tax Free Flights… For Now

23 July 2011

As Congress and the President collectively stomp their feet and stick their tongues out at each other over the debt ceiling, frequent travelers are catching something of a break… It turns out that one of the tax measures that has not been resolved involves federal taxes on airline tickets. Since Congress has not confirmed the [...]

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Debt Ceiling? What Debt Ceiling?

11 July 2011

I’ve received a lot of emails lately asking me to explain what the debt ceiling is and what it really means. It seems that it’s a term that Congress likes to throw around without a lot of explanation. So here’s the scoop: As of August 2, the United States can’t pay its bills anymore. We [...]

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IRS Drops Investigation Into Contributions (Tax World Drops Jaw)

8 July 2011

Hear that? It’s the sound of a pin dropping. Or my jaw dropping. Take your pick. The IRS has announced – unexpectedly – that it will no longer pursue an investigation into a group of donors who made contributions to nonprofit groups for the purpose of political ads. Specifically, the IRS was looking into whether [...]

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Let’s Get Fiscal: Obama Proposes Budget

16 February 2011

The deficit rag, oh yes the deficit rag! Those budget gaps can be a 12-digit drag! I’m telling you, that’s the deficit, they really made a mess of it, that’s the deficit ra-a-ag!* When I was in the seventh grade, my algebra teacher, Col. Maus, told our class that it was impossible for a person [...]

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Health Care Repeal Fails But Key Tax Issue Sails Through

3 February 2011

You know how when you go to the gym at the beginning of the year, you can’t get a spot on treadmill because all of the new folks determined to make a change? All filled with vim and vigor and the best of intentions? (They’re also the ones wearing Uggs on the treadmill and talking [...]

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Tax Season To Start Late This Year for Many Filers, Thanks to Congress

27 December 2010

So now that members of Congress (and President Obama) are patting themselves on the back after their 11th hour tax deal, the real work begins: the IRS and tax professionals get to explain for the next month and a half why they can’t actually start processing your taxes on time. That’s because even though they [...]

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