Will President Trump Sign the Stimulus Bill?
Congress passed a massive stimulus, spending, and tax extenders bill, but it hasn’t been signed into law. Here’s what’s holding it up and what could happen next.
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From Depreciation To Refunds, What You Can Learn From Trump’s Tax Returns
I haven’t seen President Trump’s tax returns. I’m going to start there. No matter how many times I’ve been asked today to offer my “take” on the returns, I can’t give a more honest answer than, “I haven’t seen the returns.” I have, however, read the very detailed article from the New York Times, which…
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Questions Raised After IRS Rolls Out Payroll Tax Deferral Guidance
On August 8, 2020, President Trump issued a directive to the Department of Treasury to allow for the deferral of payroll taxes for the period of September 1, 2020, through December 31, 2020. Details were scarce, but a few days later, Treasury Secretary Steven Mnuchin suggested to Fox Business’ Maria Bartiromo that the deferral would be voluntary. Today,…
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Mnuchin Suggests Payroll Tax Deferral Will Be Discretionary
(Updated to add the letter from the Chamber.) Last week, President Trump took Presidential action to act on payroll tax collections. Specifically, he ordered that the employee’s share of Social Security taxes be deferred beginning September 1, 2020, through December 31, 2020, for workers earning up to $104,000 per year. While it has been touted…
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Confusion After President Trump Orders Temporary Payroll Tax Cut
On August 6, 2020, the Senate adjourned without passing a stimulus package. Senate Majority Leader Mitch McConnell (R-KY) wasn’t involved in the talks, leaving Senate Minority Leader Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA) to work directly with Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows. As of Friday…
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Trump Signs Order To Extend Unemployment Benefits
On August 6, 2020, the Senate adjourned without passing a stimulus package. Senate Majority Leader Mitch McConnell (R-KY) wasn’t involved in the talks, leaving Senate Minority Leader Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA) to work directly with Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows. As of Friday…
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Student Loan Relief Provisions Extended Through 2020
On Saturday, apparently frustrated with Congress’ inaction, President Trump issued several Executive Orders and Memoranda affecting payroll taxes, unemployment benefits, eviction procedures, and student loans. (Real quick: An executive order is an official, legally binding mandate passed down from the President, and must be printed in the Federal Register. An executive memorandum is basically the…
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President Trump Donates First-Quarter Presidential Salary To National Park Service
In November, President Trump confirmed that he would refuse a presidential salary. This week, White House Press Secretary Sean Spicer announced that the President was donating his first quarter salary to the National Parks Service (NPS).
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Congressman Won’t Back Down In Fight To Review Trump Tax Returns
This week, Democrats in the House Ways and Means Committee debate a measure that would have allowed the committee to obtain the President’s tax returns.
