Recently, Americans have experienced rising prices. But when it comes to economic inflation, how does this affect the taxes you are expected to pay? How
Read MoreTag: Congress
Shedding Light on the New Requirements for Information Reporting
Over the past few years, the IRS has increased its compliance and enforcement efforts focused on payment transactions between US and foreign persons. However, these
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Making Sense of the Child Tax Credit in 2022
Over the past year, there have been significant changes to the child tax credit. So what exactly do taxpayers need to know about the differences
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The OECD Global Minimum Tax Deal: What to Expect
The Organization for Economic Cooperation and Development (OECD) recently released details and proposed legislation on its global minimum tax plan. However, questions still linger regarding
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IRS Service Problems, Funding, and Returning to “Normal”
While many may have complained about long call wait times and difficulty seeking IRS help in the past, the pandemic has exacerbated service problems such
Read MoreSenate Funding Is About More Than COVID-19
One of the drumbeats of the current Congress is the need to be more fiscally responsible. That makes sense. Our current national debt is $26,536,793,171,015
Read MoreSenate Stimulus Bill Includes PPP Expansion & Fixes
In March of 2020, the Senate passed the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act. It was bigger than the original Senate proposal but smaller
Read MoreCongress Advances Tax Reform 2.0
This week, House Republicans introduced legislation, referred to as Tax Reform 2.0, that would expand the Tax Cuts and Jobs Act (TCJA).
Read MoreIRS Announces National Search To Replace The Commissioner
In response to GOP calls for his resignation, or worse, impeachment, Internal Revenue Service (IRS) Commissioner John Koskinen has announced that he will step down
Read MoreA Grimm Decision: Representative To Step Down After Guilty Plea
Just last week, Rep. Michael Grimm (R-NY) refused to resign his seat in Congress after pleading guilty to tax fraud, telling reporters, “As I said
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