As reported by Reuters, Treasury Secretary Steve Mnuchin has said that a proposed middle-class tax cut that President Trump floated just ahead of the recent November elections is not a focus of the administration’s efforts on taxes. Instead, Mnuchin said that the administration would focus its efforts on fixing issues with the 2017 tax reform law, the Tax Cuts and Jobs Act (TCJA, P.L. 115-97, 12/22/2017).
More answers
Senate Report: Scam Victims Harmed by Casualty, Theft Loss Deduction Change
The Senate Special Committee on Aging published a report with its findings from an investigation into how the elimination of …
Fact Sheet Contains Revised Form 1099-K FAQs
The IRS has issued Fact Sheet 2024-3, which contains revised frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third-Party Network …
IRS EO Publishes Two New Technical Guides
The IRS’s Exempt Organizations and Government Entities (EO) division has published two new Technical Guides (TG). The two newest TGs …