DETAILS OF BIDENS STIMULUS PLAN
Details of Bidens stimulus plan. Candidate Joe Biden had promised a spending program that would be designed to lift up the middle class of Americans, who he felt were left behind in the last twenty years, by a tax code designed to give all the tax breaks to the top one percent of Americans. Seeing […]
AMERICAN RESCUE PLAN PART THREE
American rescue plan part three. The American Rescue Plan suspends a portion of the Unemployment Compensation paid a taxpayer, under Section 9042. In taxable year 2020, if the standard gross income of the taxpayer for the taxable year is less than $150,000, the gross income of such taxpayer shall not include a portion of the […]
CONGRESS MIGHT TAX CRYPTO CURRENCY
Congress might tax crypto currency. With exploding budget deficits and a need to raise revenue due to the need of the government to spend even more to bail the country out of the Covid health crisis, finding alternate paths to additional revenue are suddenly extra appealing to a Congress that knows that deficits are never […]
INFRASTRUCTURE TALKS AT IMPASSE
Infrastructure talks at impasse. With Democrats and Republicans at odds over the details of the infrastructure bill, it seems that both parties have dissension within their ranks as well, making agreement even more difficult. There is broad agreement among Democrats that the corporate tax rate is too low. The rate was slashed from 35 percent […]
IRS STILL BEHIND DUE TO COVID
IRS still behind due to Covid. The IRS, which closed down back in January of 2020 until nearly July of 2020, fell behind dramatically from the assigned duties that Congress has mandated by 15law that the agency carry out. In addition to its normal duties, tax law changes implemented by both the Trump and Biden […]
