federal budget

: TaxVox

Taxes: To Be Considered, Rejected, or Collected

The White House plans to release its budget on February 2. It would be the first time since 2010 that the Administration would meet the deadline for the roll-out. The Hill reports that the OMB hopes such timeliness will restore some discipline to an old and broken-down process . Broken down perhaps

January 9, 2015Renu Zaretsky

: TaxVox

Extenders at Home, Harmonies Abroad: Earworms (and Headaches) for All

The House may vote this week on a one-year retroactive tax break extension. Maybe you’ve heard this song before, but Bloomberg reports the GOP figures the bipartisan tax extender package proposed last week is in fact dead. As many as one in six taxpayers could be affected without an extension of

December 2, 2014Renu Zaretsky

Individual Taxes: TaxVox

Tax Deals: Will Everything Old Be New Again?

Dave Camp on tax reform: “It can be done.” Retiring House Ways & Means Chair Dave Camp remains optimistic . The Hill reports that a deal to extend expiring tax breaks could give Camp’s successor, Paul Ryan, a chance to secure broad GOP support for a tax reform plan. About that tax extender deal

December 1, 2014Renu Zaretsky

: TaxVox

Reporting, Responding, and Partnerships

Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then. Stranger than fiction: The IRS, “structuring,” and asset seizures. A business’ cash deposits, if under $10,000, do not trigger a government reporting requirement. But that could look like “

October 27, 2014Renu Zaretsky

Individual Taxes: TaxVox

Uncle Sam Is Smaller (Relatively) Than We Thought

At 8:30 this morning, Uncle Sam suddenly shrunk. Federal spending fell from 21.5 percent of gross domestic product to 20.8 percent, while taxes declined from...

July 31, 2013Donald Marron

Individual Taxes: TaxVox

Will the Slowdown in Health Cost Growth Change the Budget Debate?

Upon these three facts everyone agrees: 1) After a long period of explosive increases, health cost growth has slowed markedly in recent years. 2) A...

May 9, 2013Howard Gleckman