You know how when you were a kid, you’d think about something coming up that you were really looking forward to – like Christmas or your birthday or vacation – and then it would come and you were all, “This is it?”
The tax deal passed last night in the House. It was kind of like that.
Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and speaker who explains taxes, IRS news, financial crime, scams, and the law in plain English.
It looks like Senate Majority Leader Mitch McConnell (R-KY) may bring a vote on the Senate “skinny” bill – the latest coronavirus relief bill. Why is it skinny? It has a slimmer price tag – and fewer benefits – than before. Some Quick History In May, House Speaker Nancy Pelosi (D-CA) announced a $3 trillion…
Senate Majority Leader Harry Reid (D-NV) has indicated that the newly “trimmed” stimulus package will go to a vote in the Senate on Monday. The bill now costs approximately $827 billion. You would have thought that the Senate had found the cure for cancer, as they congratulated each other for finally agreeing on something. They…
It’s official: we have a new Secretary of the Treasury. The Senate has confirmed Timothy Geithner, President Barack Obama’s pick for Treasury Secretary. The votes for Geithner did not reflect overwhelming confidence in Obama’s pick. The final vote was 60-34 in favor of Geithner. The vote was not strictly partisan with many Republicans embracing Geithner,…
We are feeling the pain at the pump. According to AAA, the national average gas price is $3.498. A year ago, it was $2.507. And the price of gas isn’t the only thing that’s going up. Americans are feeling the impact of record inflation, which is reportedly costing the average household an additional $276 per…
To no one’s surprise (except Murphy’s counsel), the Supreme Court denied cert in Murphy v. IRS, 493 F.3d 170 (D.C. Cir. 7/3/07). Counsel for Ms. Murphy has indicated that the process has been political – you can read the press release here. You know that I’ve had my say about Murphy – read up if…
A proposal called the Border Wall Funding Act of 2017, with the alternative title, “To amend the Electronic Fund Transfer Act to impose a fee for remittance transfers to certain foreign countries, and for other purposes” was introduced on March 30, 2017, by Rep. Mike Rogers (R-AL).
Comments are closed.
So we get a small tax increase in the form of the estate tax and a shot of heroine through the SS withholding…. For a fiscal conservative I guess this really shows how low our expectations of congress are when we cheer them on just for not raising our taxes today, but kicking the can down the road a little further. Nothing to see here, just more pandering, and less confronting our spendthrift problems (thats the conservative in me talkin’). What ever happened to the “highly regarded” debt reduction panel and their advise?
Out of curiosity, do you know a good website with a summary of what the new tax bill passed?
I started searching but mostly found news articles about the vote itself…
I’ll toot my own horn and say start here: http://www.taxgirl.com/the-morning-after-the-tax-deal-hangover/
That was the original deal (not too much has changed). I’m working on an update.
Does this include the LTCG at 0% in the lowest bracket that we had the last 2 years?