Florida Storm victims now have until August 15, 2023, to file various federal individual and business tax returns and make tax payments, the IRS announced Tuesday, May 2. The tax…
H.R.5376 _ Inflation Reduction Act of 2022 Summary. It was passed by the senate on 08/07/2022, and became law on 08/18/2022. You can read the summary below: TITLE I--COMMITTEE ON…
We have prepared a comprehensive recap from top senior tax and economic correspondents across the country: "Biden's Corporate Tax Hike in 'The Inflation Reduction Act' won't hurt most U.S. companies.…
A new report also showed the federal deficit falling this year as covid aid expired The Congressional Budget Office said this week that high inflation is expected to persist for…
Certified public accountants (CPAs) and other tax professionals in the U.S. are sounding the alarm about the upcoming tax season–which has been greeted with skepticism about how the IRS will deal…
New Income Reporting Threshold for Gig Workers The American Rescue Plan Act of 2021 (“the Act”), enacted in March 2021, dramatically lowers the filing threshold for payments required to be…
This is a summary from The Washington Post piece written by Tony Romm, Amy Goldstein, and Dino Grandoni / Published on Thursday, October 28th, 2021: President Joe Biden unveiled on…
If you live in the state of California you are about to receive a brand new stimulus check. Governor Gavin Newsom signed additional COVID-19 relief legislation this week that will…
Finance ministers for the G-7 advanced economies (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) announced Saturday they have reached an agreement at the G-7 meeting…
During a private meeting on Wednesday, June 2, President Joe Biden proposed a new minimum tax rate for corporations, instead of raising corporate tax rates to 28%, Biden has offered…