Legislation
Latest News
‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
Accountant Gets Jail Time For Charging $3 Million on New Jersey Employer’s Credit Card
New Jersey Joins IRS Direct File For 2025 Filing Season
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Biden Seeks to Bolster Solar Manufacturers With Tax and Trade Moves
The measures include expanded tariffs, tax policy guidance, and promises of heightened vigilance for signs of unfair trade.
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U.S. to Increase Some Tariffs on Chinese Electric Vehicles to 100%
The rate on Chinese EVs will increase from 25 percent to 100 percent this year, while the rate on lithium-ion EV batteries will increase from 7.5 percent to 25 percent.
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New Trump Tax Cuts Could Cost $4.6 Trillion, Bipartisan Watchdog Agency Says
That puts a massive price tag on what is likely to be a top issue in Washington next year as lawmakers grapple with the future of Trump’s tax cuts, which are slated to expire at the end of 2025.
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EV Makers Win Two-Year Extension to Qualify for Tax Credits
The Biden administration on May 3 gave carmakers a partial reprieve in finalizing electric vehicle tax credit rules.
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IRS Provides Safe Harbors For the Clean Aviation Fuel Credit
New guidance touches on the role farmers will play in the production of clean jet fuels and reducing emissions in the aviation industry.
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Bipartisan Bill Would Force IRS to Fix Issues With Math Error Notices
The bill, introduced in both the House and the Senate, would require the IRS to spell out exactly what the error on the return is.
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IRS Extends RMD Tax Relief for Inherited IRAs
This relief was provided to certain RMDs in 2021, 2022, and 2023, and is being extended in Notice 2024-35 to 2024.
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Point-of-Sale EV Tax Rebates Are a Hit, Treasury Department Says
Treasury says the federal government has reimbursed more than $580 million to the dealers who offered the tax credit.