As Congress gets to work on a second stimulus package, there have been a number of suggestions for how to kick start the economy. Some ideas that have been made public include extending unemployment benefits, adding a second stimulus check, payroll tax cuts, expanding business loans (like the PPP), and a vacation tax credit to…
Earlier this week, I reported that Treasury Secretary Steven Mnuchin was still considering extending the tax season. Reactions to this idea were mixed. So, for today’s Fix The Tax Code Friday question, I want to know your opinion: [forminator_poll id=”52138″]
Earlier this week, the House introduced the Health and Economic Recovery Omnibus Emergency Solutions Act, or HEROES Act (you can read my summary here). Included in the bill were corrections to the CARES Act and an additional round of stimulus checks. It’s a controversial bill with some saying that the timing isn’t right. That brings…
It’s Fix the Tax Code Friday! Charitable deductions have been limited to taxpayers who itemize their deductions rather than claim the standard deduction. With the doubling of the standard deduction under the Taxpayers Cuts and Jobs Act, fewer taxpayers itemize their deduction. That means that fewer taxpayers have a tax incentive to make a charitable…
Today’s Fix The Tax Code Friday question: Should Congress set the personal exemption amount to zero permanently?
It’s Fix The Tax Code Friday! Today we tackle the IRS budget.
It’s Fix The Tax Code Friday! Today’s question focuses on the new, refundable tax credit in the GOP health care proposal.
It’s Fix The Tax Code Friday! Today’s question: Should we limit or eliminate the charitable deduction?
It’s Fix The Tax Code Friday! Today’s focus is federal estate tax repeal.
It’s Fix The Tax Code Friday. Today, we focus on capping itemized deductions.