13 states may affect borrowers with state tax liabilities on forgiven student loans

President Joe Biden‘s student loan forgiveness plan will soon pay off the debt of millions of Americans, and the relief is tax free on federal returns. However, experts say the cancellation can still trigger a state tax bill. Most borrowers making less than $125,000 per year or $250,000 for married couples filing jointly will qualify … Read more

13 states may affect borrowers with state tax liabilities on forgiven student loans

President Joe Biden‘s student loan forgiveness plan will soon pay off the debt of millions of Americans, and the relief is tax free on federal returns. However, experts say the cancellation can still trigger a state tax bill. Most borrowers making less than $125,000 per year or $250,000 for married couples filing jointly will qualify … Read more

With 87,000 new agents, these are the recipients of IRS audits

Jeffrey Coolidge | Photodisc | fake images As the Democrats spending plan approaches a vote in the House, one of the most controversial provisions: nearly $80 billion in IRS fundswith $45.6 billion for “enforcement,” it has raised questions about who the agency can turn to for audits. IRS Commissioner Charles Rettig said these resources are … Read more

With 87,000 new agents, these are the recipients of IRS audits

Jeffrey Coolidge | Photodisc | fake images As the Democrats spending plan approaches a vote in the House, one of the most controversial provisions: nearly $80 billion in IRS fundswith $45.6 billion for “enforcement,” it has raised questions about who the agency can turn to for audits. IRS Commissioner Charles Rettig said these resources are … Read more

Sinema had the Schumer cut carry a piece of interest from the reconciliation bill

US Senate Majority Leader Chuck Schumer (D-NY) holds his weekly news conference after the Democratic caucus luncheon at the US Capitol in Washington on August 2, 2022 . jonathan ernst | Reuters Senate Majority Leader Chuck Schumer said Friday that Democrats “had no choice” but to remove a key tax provision from his main spending … Read more

Sinema made the Schumer cut had a loophole in the interests of the reconciliation bill

US Senate Majority Leader Chuck Schumer (D-NY) holds his weekly news conference after the Democratic caucus luncheon at the US Capitol in Washington on August 2, 2022 . jonathan ernst | Reuters Senate Majority Leader Chuck Schumer said Friday that Democrats “had no choice” but to remove a key tax provision from his main spending … Read more

Does the Inflation Reduction Act violate Biden’s $400,000 fiscal promise?

JimWatson | Afp | fake images Senate Democrats’ package on climate change, health care, drug prices and tax measures unveiled last week has supporters and opponents debating whether the legislation violates a promise by the president. Joe Biden has done since his presidential campaign, a not raise taxes in households with incomes below $400,000 a … Read more

Koch Network Urges Senators Manchin and Sinema to Oppose $739 Billion Bill

Sen. Kyrsten Sinema, D-Ariz., and Sen. Joe Manchin, DW.Va., board an elevator after a private meeting between the two on Capitol Hill on Thursday, September 30, 2021 in Washington, DC. Jabin Botsford | The Washington Post | fake images The political network backed by billionaire Charles Koch launched a publicity blitz targeting Senators Joe Manchin … Read more