Taxes February 16, 2025
IRS Could Lay Off 15,000 Staff This Week, During Peak Tax Season
According to ABC News and the Associated Press, up to 15,000 workers at the Internal Revenue Service could be laid off from their positions in the next week.
Taxes February 11, 2025
Ford CEO: Inflation Reduction Act Tax Credit Repeals Could Risk Jobs
Ford Motor Co. CEO Jim Farley warned that if the federal government under President Trump repeals provisions of the Biden administration's Inflation Reduction Act like the electric vehicle battery production tax credits, the company could have to look at layoffs.
Small Business February 10, 2025
Trump Orders Treasury Department to Stop Making Pennies
According to the U.S. Mint, the cost for creating a penny was 3.69 cents each last year, and the coins accounted for about half of the non-folding money shipped out.
Small Business February 10, 2025
How Will Mass Deportation Plans Affect the Construction Industry?
Nationally, foreign-born workers, regardless of legal status, fill an estimated 30% of trade jobs like carpentry, plastering, masonry and electrical roles. The U.S. construction industry, meanwhile, employs an estimated 1.5 million undocumented workers — or 13% of its total workforce.
Taxes February 10, 2025
Trump Plans to Impose 25% Tariffs on Steel, Aluminum Imports
The president also said he would announce reciprocal tariffs this week on countries that tax U.S. imports, which would be enacted almost immediately after an announcement.
Payroll February 7, 2025
Trump Buyout at 50,000 Takers as Focus Shifts to Poor Performers
Now the Trump administration is signaling a tougher posture in its bid to shrink the government’s workforce, asking federal agencies to draw up lists of their poorest performing employees by March 7.
IRS February 6, 2025
IRS Employees Who Planned to Take Trump’s Offer to Leave Now Told They Must Stay Through Tax Season
The IRS has notified workers essential to tax season that they must work until May even if they accepted the Trump administration's federal employee buyout offer, the deadline of which was put on hold temporarily by a federal judge on Feb. 6.
State and Local Taxes February 6, 2025
Trump Considers Ending Carried Interest, Expanding SALT Deduction
President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including a call to end the carried interest tax break used by private equity fund managers and expand the state and local tax deduction.
Payroll January 21, 2025
Trump Orders All Federal DEI Staff on Paid Leave
Trump signed executive orders in the first hours of his new term as president to end DEI efforts in the federal government, terminate diversity programs, and remove related offices and positions.