Republicans direct important committee to evaluate extension of Trump tax cuts as budget friendly
Senate Republicans have instructed the Joint Tax Committee (JCT) to estimate the costs associated with extending tax cuts from 2017 introduced by Trump. This joint taxation committee, which analyzes how tax legislation affects deficits, will assess the effects of 26 tax cuts and employment measures from 2017. Essentially, this serves as a continuation of “current […]
Dave Portnoy criticizes proposed charges on luxury homeowners in blue states, calling it the ‘Taylor Swift tax’
Barstool Sports founder Dave Portnoy, who identifies as a “Swiftie,” is openly criticizing what’s being called the “Taylor Swift Tax.” This proposed legislation in Rhode Island targets owners of luxury second homes valued over $1 million, imposing hefty annual fees that could reach six figures. “We don’t like that tax, Stuart,” Portnoy remarked during an […]
Trump criticizes environmental tax incentives in major legislation
Trump Criticizes Green Energy Tax Credit in GOP Bill Debate Former President Trump voiced his opposition to the Green Energy Tax Credit included in the GOP’s major legislative proposal in a recent post on Truth Social. “I hate the ‘green tax credit’ on a great, big, beautiful bill. They are mainly huge scams,” Trump stated. […]
Groups Advocate for Senate Republicans to Dismiss NFA Tax Plan
A coalition led by the American Association of Repressors, alongside American Gun Owners, the NRA, and the Second Amendment Foundation, has reached out to Senate Majority Leader John Tune (R). Their letter urges him to uphold the provisions in the Budget Settlement Bill that would eliminate the National Firearms Act tax on suppressors and short-barreled […]
Optima Tax Relief hit by ransomware attack revealing customer information
Cyberattacks targeting financial service providers have become more frequent, with tax preparation companies, accounting software developers, and data brokers now often under threat from ransomware gangs. Such incidents disrupt functions and can expose sensitive personal financial data, leading to identity theft and fraud. One notable case involves Optima Tax Relief, a major player in the […]
Changes to Trump’s major tax proposal include adjustments to tip taxation and SALT deductions.
Senate Approves Tax Break for Tipped Workers This week, the Senate announced a revision of a tax proposal known as “One Big Beautiful Bill,” put forth by President Donald Trump. There are mixed opinions about whether this is better for the average American compared to a similar bill passed by the House. The Senate’s version […]
States That Do Not Tax Social Security
The Trump administration has been making headlines with its plans to eliminate taxes on Social Security income, aiming to lessen the financial strain on older Americans. Still, even with potential federal changes, certain states continue to impose taxes on retirement income. Why does this matter? President Trump’s major legislation, often referred to as the “big […]
How Trump’s ‘big, beautiful bill’ compares to his 2017 tax plan
As Senate Republicans debate the Settlement Budget Bill that the House passed on May 22, one thing is becoming increasingly evident. Most of the comprehensive bills that have been backed by President Trump are likely to be implemented in July, despite some Republican senators expressing concerns about various aspects of the package. If that happens, […]
To attract data centers, states give up hundreds of millions in tax income to tech firms.
Indiana’s Sales Tax Exemptions for Data Centers: A Growing Debate Back in 2019, Indiana’s Legislature rolled out a bill aimed at giving hefty sales tax exemptions to qualifying data centers. This legislation allows high-tech facilities filled with advanced servers to sidestep the state’s 7% tax when buying equipment and energy. This move has significantly benefited […]
Almost 3 million New Yorkers will soon get a tax relief payment. Here’s what you can expect to receive.
New York’s Tax Relief for Homeowners New York homeowners are set to benefit from a portion of the $2.2 billion in tax relief this summer, as announced by Governor Kathy Hochul. This initiative comes from the state’s school tax relief program. The program offers property tax assistance to qualifying homeowners and seniors throughout the state, […]