Tax deal timeline, and sped up IRS cuts - POLITICO

Jan 8, 2024 · Delivered every Monday by 10 a.m., Weekly Tax examines the latest news in tax politics and policy. ... Tax deal timeline, and sped up IRS cuts. By BERNIE BECKER . …

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What A $21.4 Billion Budget Cut May Mean For The IRS - POLITICO

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May 30, 2023 · Weekly Tax. Delivered every Monday by 10 a.m., Weekly Tax examines the latest news in tax politics and policy.

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Lawmakers Strike Deal On Expanded Child Tax Credit, But Face …

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Jan 16, 2024 · The plan includes $33 billion to partly extend a major expansion of the child tax credit that was initially beefed up for one year as part of the sweeping 2021 pandemic aid law, …

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Republicans Ponder: What If The Trump Tax Cuts Cost Nothing?

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9 hours ago · The thinking allowed the Obama White House to claim that the deal it made to extend many of the Bush tax cuts reduced the deficit by more than $700 billion over 10 years.

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Senior Tax Rebate StayNJ Gets $220 Million In 2025 NJ State Budget

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Jun 29, 2024 · StayNJ would cut seniors property taxes in half and is expected to cost $1.3 billion annually. The tax rebate program was put in the 2025 NJ budget.

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FAQs about Tax deal timeline, and sped up IRS cuts - POLITICO Coupon?

Is the tax deal a good policy?

Nonetheless, inflation increased the burden on households and businesses. The current tax deal, in some ways, replicates the economic gains in the years following the Tax Cuts and Jobs Act. Getting this deal done in time for the policies to be reflected in this year’s tax returns is good policy and better politics. ...

Does the IRS still have a plan to improve taxpayer services?

BACK TO THOSE IRS PLANS: The good news for the IRS at least is that it still has a significant chunk of change to make visible improvements in taxpayer services over the next several years, Koskinen told Weekly Tax. ...

Could tax cuts be extended for 10 years?

Some in the party are considering alternative ways of assessing the federal budget as they prepare to extend temporary tax cuts passed in 2017. By conventional budget rules in Washington, extending the tax cuts for 10 years would reduce the revenue the government collects by roughly $4 trillion, according to the Congressional Budget Office. ...

Why did the tax cuts & Jobs Act work?

That bill proved economically meaningful, spurring domestic investment and boosting economic activity. Lest anyone doubt, it is indisputable that the Tax Cuts and Jobs Act strengthened the economy that Joe Biden inherited. This may be the reason for our narrow escape from an official recession coming out of the pandemic. ...

Should Republicans extend tax cuts before they lapse?

Forcing the issue is the end of many of the tax cuts Republicans passed in 2017. Without any action by Congress next year, taxes would go up for most Americans, as provisions like lower marginal income rates and a larger standard deduction expired. Republicans want to protect their handiwork and extend the tax cuts before they lapse. ...

Will there be a tax deal?

Sure, it’s too soon to say there definitely won’t be a tax deal, though the vibes still aren’t great and the broader forces assembled against negotiators haven’t gone anywhere. ...