Tax Politics
The Politics of Taxes
Illinois Finances In Disarray
It's kind of funny that the AP is reporting a story that has not been "news" for years to tax professionals. The state of Illinois is running out of taxpayer money, as its obligations exceed its revenue intake. This is what happens when a state has been mismanaged...
Yellen Raises A Quarter
In an interesting move this week and true to the Fed plan to raise rates three times this year, Fed Chair Janet Yellen raised interest rates .25%. It's worth it to note that at the same time, the Feds downgraded the forecast for inflation: The central bank now...
Record Federal Tax Revenue For Month of May
I always look forward to CNSNews each month when they do a roundup of the prior month's spending and revenue. Their numbers come directly from the Monthly Treasury Statement released by mid-month for the previous month. Because they've been doing it for so long, they...
Iowa Obamacare Market Facing Collapse
We've written about the collapse of many Obamacare markets as well as the removal of several insurers from the Obamacare system across multiple states and exchanges. Earlier this year Aetna Inc. and Wellmark Inc. announced that they would not participate in Iowa for...
IRS Bulletin: Taxpayers Abroad Must File by June 15; Extensions; FBAR
Issue Number: IR-2017-105 Inside This Issue Taxpayers Abroad Must File by June 15; Extensions Available; New Filing Deadline Now Applies to Foreign Account Reports WASHINGTON — The Internal Revenue Service today reminded taxpayers living and working abroad that...
“Disparate Impact” and Minimum Wage
The idea of “disparate impact” holds that a defendant can be held liable for racism and discrimination for a race-neutral policy that statistically disadvantages a specific minority group even if that negative “impact” was neither foreseen nor intended. This tactic...