Tag: taxation
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Media Monitor: Democratic States Target Trump Administration Settlement Fund
The Washington Post reports Democratic-led states are drafting bills to tax payouts from a $1.8 billion Trump administration settlement fund, a move also backed by Democratic candidates and criticized by some Republicans.
Politics and GovernmentBusinessGeneral PoliticsState GovernmentsFederal GovernmentEconomyLegal Democratic StatesTrump AdministrationSettlement FundTaxationLegislationRepublicansPoliticsThe Washington Post
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IRS Unveils New Look-Back Interest Calculator for Businesses
The IRS has released an Excel-based calculator to help businesses and tax professionals compute look-back interest for long-term construction and manufacturing contracts, aiming to simplify compliance with tax regulations.
Politics and GovernmentBusinessFederal GovernmentEconomyLegalComputers and Internet IRSLook-Back InterestTax CalculatorLong-Term ContractsBusinessesTaxationFinancial Services
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Treasury, IRS Offer Relief to Sovereign Investors on Tax Regulations
The Treasury and IRS issued guidance for Section 892 regulations, offering grandfathering and transitional relief to foreign governments and sovereign wealth funds. This aims to provide certainty for U.S. investments and support economic growth.
Politics and GovernmentBusinessFederal GovernmentEconomyFinancial MarketsLegal U.S. Department of the TreasuryInternal Revenue ServiceSection 892Sovereign InvestorsTaxationInvestingGovernmentUS Treasury
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IRS Unveils New Digital Tools for Trump Account Elections
The IRS has launched new digital features in Individual Accounts, allowing taxpayers to view and submit Trump Account elections electronically. This streamlines investing in these new tax-advantaged accounts for children, established by the One, Big, Beautiful Bill.
Politics and GovernmentBusinessGeneral PoliticsFederal GovernmentEconomyFinancial MarketsEducationSocial Issues IRSTrump AccountTaxationGovernment ServicesFinancial PlanningOne, Big, Beautiful BillFrank J. Bisignano
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Media Monitor: Trump's IRS Deal Includes Bar on Past Tax Claims
The Washington Post reports an addendum to President Donald Trump's deal with the IRS, signed by acting attorney general Todd Blanche, bars the agency from pursuing past tax claims against Trump, his family, or his businesses.
Politics and GovernmentBusinessLaw EnforcementGeneral PoliticsFederal GovernmentEconomyLegal Donald TrumpIRSJustice DepartmentTodd BlancheTaxationLegal agreementAnti-weaponization fundThe Washington Post
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Media Monitor: L.A. Times examines California's reliance on wealthy taxpayers
The L.A. Times reports that California's state government heavily relies on its wealthiest residents for tax revenue, a system columnist George Skelton argues is volatile despite recent surges.
Politics and GovernmentBusinessState GovernmentsEconomyDemocratic PartyElectionLegal CaliforniaTaxationWealthyState BudgetGavin NewsomGeorge SkeltonPublic PolicyL.A. Times Politics