Taxes July 31, 2025
New Federal School Voucher Program Poses a Quandary for States: Opt In or Opt Out?
A tax credit in Trump’s signature law leaves states to sort out rules, funding, and oversight.
Taxes January 7, 2025
Trump Keeps World Guessing Over How He Intends to Impose Tariffs
In the past 24 hours, President-elect Donald Trump has said that Congress will use revenue from tariffs to help pay for extending his 2017 tax cuts in a “powerful” bill that would eliminate taxes on tips.
Taxes January 7, 2025
Here’s What Comes Next for California Fire Victims Who Won Federal Tax Relief
Tens of thousands of Northern California fire victims stand to recover millions of dollars in reimbursements for federal taxes paid on wildfire settlements now that the Federal Disaster Tax Relief Act finally passed Congress last month and was signed by President Joe Biden on Dec. 12.
Taxes January 2, 2025
Will the Limits on SALT Deductions Finally be Ended in 2025? Trump Says Yes
Finally, the long-sought lifting of the cap on state and local tax deductions seems to have the support it needs in Congress. Perhaps most important, President-elect Donald Trump backs the idea.
Accounting December 24, 2024
State CPA Society News and Updates – Dec. 2024
State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories.
Taxes December 16, 2024
Understanding Trump’s Push to Lock in the TCJA
Whether the provisions in the Tax Cuts and Jobs Act are extended, modified, or left to expire, the decisions made in the coming years will shape the tax landscape for a generation.
Taxes December 16, 2024
Trump Tax Cuts May Fail to Drive Much, if Any, Economic Gain, Analysis Says
While measures up for renewal that largely benefit individuals and households are an easy sell to voters, economists caution on the scale of economic dividend they generate. The bigger spur for investment, they say, would be cuts for corporations.
Taxes December 12, 2024
IRS Recoups $4.7 Billion as Part of Latest Enforcement Initiatives
The update given by the IRS on Dec. 12 comes as the threat of additional budget cuts from Republicans and a potential new leader of the agency loom once Donald Trump takes office next month and both chambers of Congress are controlled by the GOP.
Taxes December 12, 2024
Biden Defends Economic Record, Says Trump’s Plans Threaten Growth
President Joe Biden on Tuesday warned that Republican Donald Trump’s plans to extend tax cuts and reshape global trade through tariffs risked reversing economic gains.
Taxes December 12, 2024
What Will Happen to Social Security Under Trump’s Tax Plan?
Trump's plan to eliminate taxes on Social Security benefits would help current beneficiaries, but future recipients may be hurt by the move.
Taxes December 3, 2024
Will the New GOP-Controlled Congress Give Parents a Bigger Tax Break?
Republicans and Democrats alike are eager to boost the child tax credit, but they've had trouble agreeing on the details.
Taxes December 2, 2024
Opinion: A Better Way to Pay for Extending the Trump Tax Cuts
A potential solution exists that should be acceptable to Republicans because they floated it not too long ago.
Taxes December 2, 2024
What Trump’s Endowment Taxes Could Mean for Yale, Other Universities
Colleges are already bracing themselves for potential large-scale changes during the president-elect's second term in office.