Grassley Bill Would Help Offset Inflation’s Impact on Some Tax Benefits
Senate Finance Committee member Charles Grassley, Republican of Iowa, has introduced legislation that would index certain tax benefits to adjust …
Senate Set to Vote on Semiconductor Bill With Tax Credits
The Senate plans to vote as early as this week on an expanded version of a semiconductor manufacturing and economic …
Senate Bill Features Tax Credits for Chip Manufacturers
Senate Majority Leader Chuck Schumer, a New York Democrat, on July 19 introduced a trimmed-down package to promote semiconductor manufacturing …
Senate Republicans Target Tax Credit Program Spending
Tax credit programs designed to primarily assist low- and middle-income taxpayers are under scrutiny of several Republicans in the Senate, …
House Republican’s Bill Would Double R&D Tax Credit
Rep. Jackie Walorski, a member of the House of Representatives’ Ways and Means Committee, introduced legislation that would double the …
Automakers Urge Congress to Nix Phaseout of Electric Vehicle Tax Credit
The heads of the four biggest U.S. automakers have called on leaders in Congress to raise the limit on tax …
IRS Creates Child Tax Credit Non-Filer Sign-Up Tool
In a Treasury Department press release, an IRS news release, and IRS webpages, IRS has announced its creation of the …
Treasury Department Reports on President Biden’s “Made in America Tax Plan”
U.S. Department of the Treasury – The Made in America Tax Plan (4/7/2021) The Treasury Department has issued The Made in …
Biden Outlines Corporate Tax Increases to Pay for Infrastructure Bill
White House Briefing Room: American Jobs Plan (3/31/2021) President Biden has released a summary of the American Jobs Plan that …
IRS Commissioner Testimony Includes Information on Tax Gap and Monthly Child Tax Credits
In April 13 testimony to the Senate Finance Committee, IRS Commissioner Charles Rettig testified that he believes that the annual …