Why Dems could go for more business tax breaks
In many cases, businesses report that they’ve had to lay off employees and take out lines of credit to rustle up the money to pay the IRS without the immediate writeoff.
Delivered every Monday by 10 a.m., Weekly Tax examines the latest news in tax politics and policy.
Delivered every Monday by 10 a.m., Weekly Tax examines the latest news in tax politics and policy.
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In many cases, businesses report that they’ve had to lay off employees and take out lines of credit to rustle up the money to pay the IRS without the immediate writeoff.
People in the crypto world and some lawmakers have long complained that the IRS has provided very little clarity over tax rules for the industry and virtual currency holders.
The National Taxpayers Union Foundation has brought together some heavy hitters in the tax world to provide the IRS with insights as the agency moves forward with its strategic operating plan.
Cyber security experts told Weekly Tax in interviews that chatbots threaten to advance the credibility and sophistication and success of tax scams in leaps and bounds.
There’s also a strong likelihood that more than half of IRS employees will be fresh faces in 2025.
EU officials have long expressed concern to the Biden administration that the sourcing requirements for Inflation Reduction Act’s green vehicle provisions would cripple the European industry for electric cars.
Using the appropriations process to influence policy positions is nothing new, of course. But it would be an escalation from GOP lawmakers.
It’s worth taking a deeper look at the S. 866 (118), that would once more allow companies to immediately deduct their research costs.
Biden’s latest budget would take steps to align U.S. tax policy with the global agreement, which Janet Yellen and her team had a big role in crafting.
President Joe Biden releases his third budget this week — and in perhaps classic Biden fashion, he’s been more than happy to offer some previews ahead of the time.