Taxes

New Government Run Health Insurance Option Could Be More Expensive Than Initial Projections, Study Shows
Health
New Government Run Health Insurance Option Could Be More Expensive Than Initial Projections, Study Shows
2020-11-05 22:10:36
by Sean Trambley

WASHINGTON -- With Congress considering significant health care reforms, including creating a government-run health insurance plan called the public option, a new study shows that it could be significantly more expensive than previously estimated. The study, released by Lanhee J.... Read More

Health Care Groups Dive Into California Property Tax Ballot Fight, Eyeing Public Health Money
State News
Health Care Groups Dive Into California Property Tax Ballot Fight, Eyeing Public Health Money

SACRAMENTO, Calif. — A November ballot initiative to raise property taxes on big-business owners in California is drawing unconventional political support from health care power players and public health leaders. They see Proposition 15 as a potential savior for chronically underfunded local health... Read More

Schneider Unveils Plan to Reinstate SALT Deduction
Taxes
Schneider Unveils Plan to Reinstate SALT Deduction
2020-10-15 20:38:27
by Reece Nations

WASHINGTON – Rep. Brad Schneider, D-Ill., revealed plans to fully repeal the cap on the state and local tax deduction that was included in the Republican-backed Tax Cuts and Jobs Act of 2017. The state and local tax deduction, also... Read More

Trump Can't Block Grand Jury Subpoena for Tax Returns, Appeals Court Rules
In The News
Trump Can't Block Grand Jury Subpoena for Tax Returns, Appeals Court Rules
2020-10-07 19:36:54
by Dan McCue

WASHINGTON - A federal appeals court ruled Wednesday that President Trump cannot block enforcement of a New York grand jury subpoena for eight years of his tax returns. The ruling, which affirmed a lower court decision, sets the stage for... Read More

President Trump Paid $750 in Income Taxes in 2016 and 2017, NYT Says
Taxes
President Trump Paid $750 in Income Taxes in 2016 and 2017, NYT Says

WASHINGTON — President Donald Trump paid just $750 in income taxes in both 2016 and 2017, reported losing millions of dollars from his golf courses and has hundreds of millions in debt that will come due in the next few... Read More

Despite Pandemic, Kansas Sees Windfall in Tax Collections
State News
Despite Pandemic, Kansas Sees Windfall in Tax Collections
2020-08-04 20:11:52
by Dan McCue

TOPEKA, Kan. - As Congress continues to wrestle with how much it will give to states and cities in the next coronavirus relief package, the state of Kansas says it has seen a dramatic increase in its tax collections, partly... Read More

States Raid Fund Meant for Needy Families to Pay for Other Programs
In The News
States Raid Fund Meant for Needy Families to Pay for Other Programs

WASHINGTON — Nearly 25 years ago, President Bill Clinton vowed to “end welfare as we know it,” and Congress bought in, passing landmark legislation designed to help millions of low-income Americans find work and get off the rolls for good.... Read More

Tax Hikes in a Pandemic: Some States and Cities Say Yes
Taxes
Tax Hikes in a Pandemic: Some States and Cities Say Yes

WASHINGTON — Nashville City Councilman Bob Mendes tried unsuccessfully for two years to get his booming city to raise property taxes to address its growing municipal needs. Then came COVID-19. The City Council last month approved a 34% increase. What... Read More

‘Sin Taxes’ Could Help States in Pandemic Budget Slump — At Least a Little Bit
Economy
‘Sin Taxes’ Could Help States in Pandemic Budget Slump — At Least a Little Bit

WASHINGTON — Gas tax revenue plummeted this spring, income taxes won’t rebound anytime soon and some states are offering a property tax holiday because people can’t pay during the pandemic. But so-called sin taxes are rolling in as liquor stores... Read More

Trump Golf Club Asks Palm Beach County for Rent Relief
Taxes
Trump Golf Club Asks Palm Beach County for Rent Relief

PALM BEACH, Fla. — President Donald Trump’s golf club in West Palm Beach has asked Palm Beach County to defer some of the $88,338 monthly rent it pays to lease public land for the president’s the private golf club, citing... Read More

Trump Finds Skeptics Instead of Allies for Prize Payroll Tax Cut
Economy
Trump Finds Skeptics Instead of Allies for Prize Payroll Tax Cut

WASHINGTON — President Donald Trump has fixed his sights on getting a payroll tax cut in the next coronavirus stimulus bill, but it’s unclear whether he can get Republicans — much less Democrats — to go along with such a... Read More

Sherrill Fights for Local Families by Rolling Back Tax Deduction Caps
Economy
Sherrill Fights for Local Families by Rolling Back Tax Deduction Caps
2020-03-19 14:59:19
by Dan McCue

WASHINGTON - Rep. Mikie Sherrill, D-N.J., knew it would be a crippling blow to her constituents and the local economy. It had been bad enough when the Republican Tax Cut and Jobs Act enacted in 2017 capped the deduction middle... Read More

IRS Extends Tax Deadline 90 Days in Response to Coronavirus
In The News
IRS Extends Tax Deadline 90 Days in Response to Coronavirus
2020-03-17 21:57:58
by Dan McCue

WASHINGTON - The Trump administration announced Tuesday that individuals and businesses will be allowed to delay paying their 2019 tax bills for 90 days past the usual April 15 deadline to July 15. The extension is an effort to inject... Read More

Democrats Say Corporate Tax Rate Favors the Rich, Overlooks the Poor
Congress
Democrats Say Corporate Tax Rate Favors the Rich, Overlooks the Poor
2020-02-12 18:10:47
by Tom Ramstack

WASHINGTON - Congressional Democrats assailed the Trump administration’s 2017 corporate tax cut during a hearing Tuesday. They said the drop from 35 percent to 21 percent is adding to the national deficit while leaving less tax revenue for programs to... Read More

Some Nonprofit Hospitals Aren’t Earning Their Tax Breaks, Critics Say
Taxes
Some Nonprofit Hospitals Aren’t Earning Their Tax Breaks, Critics Say

CHICAGO — On a recent morning at John H. Stroger Hospital, hardly a seat was to be had in any of the first-floor clinic waiting rooms. Not in audiology. Not in heart and vascular. Not in the pharmacy or ophthalmology.... Read More

Davos Breakthrough: France, US Agree to Press Ahead With Global 'Digital Tax' Talks
Geopolitics
Davos Breakthrough: France, US Agree to Press Ahead With Global 'Digital Tax' Talks
2020-01-23 15:56:34
by Dan McCue

The United States and France agreed Thursday to proceed with talks that could result in a global rewrite of cross-border tax rules for the digital era. The agreement to temporarily set aside a brewing tariff war over France’s digital tax... Read More

Restoration of Local Tax Breaks Illustrates Gottheimer’s Commitment to Working Families
Congress
Restoration of Local Tax Breaks Illustrates Gottheimer’s Commitment to Working Families
2019-12-20 18:27:13
by Dan McCue

WASHINGTON - House Democrats voted to lift a $10,000 limit on state and local tax deductions, known as SALT, repealing a deduction limit Republicans had imposed as part of their 2017 tax code overhaul. The bill, H.R.5377 , which was... Read More

Bill to Modify State Tax Deduction Splits Opinions During House Hearing
Taxes
Bill to Modify State Tax Deduction Splits Opinions During House Hearing
2019-12-17 21:53:24
by Tom Ramstack

WASHINGTON -- A congressional committee took a last look at a Democratic proposal to repeal a cap on state and local taxes before a vote expected in the U.S. House this week. The cap is a $10,000 limit on state... Read More

House Democrats to Move on Temporary ‘SALT’ Cap Increase
Congress
House Democrats to Move on Temporary ‘SALT’ Cap Increase

WASHINGTON — The House Ways and Means Committee could take up legislation as early as next week that would increase a limit on state and local tax deductions that has riled Democrats from high-cost regions, according to a senior panel... Read More

Appeals Court Says Congress Entitled to Trump Bank Records
Law
Appeals Court Says Congress Entitled to Trump Bank Records
2019-12-04 00:04:33
by Dan McCue

WASHINGTON  — The 2nd U.S. Circuit Court of Appeals on Tuesday ruled Congress is entitled to review President Donald Trump's banking records as it investigates possible foreign influence in U.S. elections, violations of the emoluments clause and other issues. The... Read More

States Appeal Judge’s Decision to Toss Local Tax Deductions Lawsuit
Litigation
States Appeal Judge’s Decision to Toss Local Tax Deductions Lawsuit
2019-12-03 19:18:23
by Tom Ramstack

WASHINGTON - Four states are appealing a federal judge’s September dismissal of their lawsuit challenging federal authority to limit state and local tax deductions. In a filing before the 2nd U.S. Circuit Court of Appeals, attorneys for the states argue... Read More

Here’s Why Donald Trump Is Talking About Another Tax Cut
Taxes
Here’s Why Donald Trump Is Talking About Another Tax Cut

WASHINGTON — President Donald Trump has said it’s time to consider another tax cut, as evidence mounts that wealthier taxpayers benefited a lot more than others from his first one. “We are going to be doing a major middle income... Read More

Trump Not Immune From Manhattan DA’s Demand for Tax Returns, Federal Appeals Court Rules
Law
Trump Not Immune From Manhattan DA’s Demand for Tax Returns, Federal Appeals Court Rules

NEW YORK — President Donald Trump is not entitled to Oval Office immunity that would block Manhattan District Attorney Cy Vance Jr. from obtaining copies of his tax returns, a federal appeals court ruled Monday. The 34-page ruling by the... Read More

Trump Sues to Keep Tax Records Hidden
Uncategorized
Trump Sues to Keep Tax Records Hidden

NEW YORK — President Donald Trump sued his own accounting firm and Manhattan District Attorney Cy Vance Thursday, seeking to prevent the prosecutor from getting his hands on eight years of tax returns. The suit was filed in Manhattan Federal... Read More

Federal Judge Blocks California Law to Force Disclosure of Trump’s Tax Returns
Taxes
Federal Judge Blocks California Law to Force Disclosure of Trump’s Tax Returns

SACRAMENTO, Calif. — A federal judge ordered a temporary injunction Thursday against California’s first-in-the-nation law requiring candidates to disclose their tax returns for a spot on the presidential primary ballot, an early victory for President Donald Trump but a decision... Read More

Ways and Means to Weigh Rollback of State, Local Tax Deduction Cap
Taxes
Ways and Means to Weigh Rollback of State, Local Tax Deduction Cap

WASHINGTON — Democrats on the House Ways and Means Committee will soon hold “at least a full-throttle discussion” about their concerns with the $10,000 cap on state and local income tax deductions that was part of the 2017 tax code... Read More

Deutsche Bank Has Tax Returns Sought by House Democrats
In The News
Deutsche Bank Has Tax Returns Sought by House Democrats

NEW YORK — Deutsche Bank AG has confirmed that it has tax returns requested by U.S. lawmakers seeking financial information for President Donald Trump and his family. Whose returns are those? That’s still a secret. The disclosure was made by... Read More

Ways And Means Chairman Cites ‘Credible Allegations’ Of Misconduct In Presidential Tax Audit
Political News
Ways And Means Chairman Cites ‘Credible Allegations’ Of Misconduct In Presidential Tax Audit

WASHINGTON — The House Ways and Means Committee said it had received “credible allegations” from a federal employee of potentially “inappropriate efforts to influence” the IRS’ mandatory audit of presidential tax returns. References to the unexplained allegations were in a... Read More

Trump May Try To Bolster Economy With Payroll Tax Cut
Economy
Trump May Try To Bolster Economy With Payroll Tax Cut
2019-08-20 20:43:58
by Dan McCue

WASHINGTON - President Donald Trump said Tuesday that his administration is considering a temporary payroll tax cut as a way to bolster the U.S. economy though he continues to insist the nation is not inching toward a recession. "I’ve been... Read More

Sherill, Gottheimer and King Move to Keep Treasury From Blocking Charitable Contributions
Congress
Sherill, Gottheimer and King Move to Keep Treasury From Blocking Charitable Contributions
2019-08-10 00:09:34
by Sean Trambley

Representatives Mikie Sherrill, D-N.J., Josh Gottheimer, D-N.J., and Peter King, R-N.Y., have introduced H.J. Res. 72 to overturn U.S. Treasury Department regulations that bar the deduction of charitable contributions from federal taxes.  The bipartisan action comes after the Treasury, in... Read More

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