Taxes May 9, 2025
Trump Seeks Tax Hike on Wealthy Earning $2.5 Million or More
The president’s proposal calls for creating a new 39.6% tax bracket for individuals earning at least $2.5 million, or couples making $5 million.
Taxes May 5, 2025
Trump Wants Tax Deduction for Interest on Loans to Buy U.S.-Made Cars. Can it Happen?
The White House hasn’t provided any details of how the tax break would work, but the president touted it during the 2024 campaign and reiterated his support last month.
State and Local Taxes May 2, 2025
SALT Talks Stall as GOP Considers Limiting Tax Break to Middle Class
The $10,000 cap on SALT, one of the most contentious issues in the GOP debate on its giant tax bill, remained unresolved as lawmakers left Washington on Thursday.
PCAOB April 30, 2025
PCAOB Chair ‘Deeply Troubled’ By GOP’s Plans to Shutter U.S. Audit Regulator
Draft legislation being considered by the House Financial Services Committee proposes to eliminate the Public Company Accounting Oversight Board and fold its responsibilities into the Securities and Exchange Commission.
Taxes April 29, 2025
Low-Income Housing Credit Bill Back in the Mix for Federal Tax Package
A bipartisan duo is reintroducing a popular measure this week that would expand the low-income housing tax credit with an eye toward including it in Republicans’ budget reconciliation package.
Taxes March 19, 2025
Child Tax Credits, a Longtime Liberal Priority, Find Favor in Republican States
If an Indiana or Ohio bill passes, it would mark the first time a GOP-led state implemented a refundable child tax credit.
Legislation March 12, 2025
House Passes Funding Bill to Avoid Government Shutdown
But with most Democrats opposed and 60 votes needed in the Senate to avoid a filibuster, it is unclear if the measure has the support needed in that chamber to pass.
Taxes February 26, 2025
Tax Cut Chances Rise as House Republicans Pass Budget Targeting Safety Net
Chances for early action on Donald Trump's tax cut plans improved as House Republicans passed a budget blueprint Tuesday calling for deep cuts in safety-net programs such as Medicaid.
Taxes February 20, 2025
Congress Considers Tax Relief for Los Angeles Fire Victims
No one can say with certainty but lawmakers are hopeful that the partisan bickering that's dominated Washington debate will subside on the disaster tax relief issue.
Taxes February 19, 2025
Nevada Lawmaker Trying Again to Kill Federal Excise Tax on Sports Bets
The quarter percent federal excise tax, also known as the handle tax, "does nothing except penalize legal gaming operators for creating thousands of jobs," said U.S. Rep. Dina Titus, D-Las Vegas.
Accounting February 4, 2025
Bipartisan State House Bill Would Create Additional Pathways to CPA Licensure in Illinois
House Bill 2459, introduced on Feb. 3 by state Reps. Natalie Manley (D) and Amy Elik (R), who are both CPAs, would amend the Illinois Public Accounting Act to create two additional pathways to CPA licensure in the state and enhance CPA practice privilege mobility.
Taxes August 25, 2023
IRS Issues Table for Calculating Premium Tax Credit for 2024
The IRS on Aug. 23 announced 2024 indexing adjustments for important percentages under the Affordable Care Act.