House Democrats push for repeal of rule blocking SALT cap workaround

Rep. Tom Suozzi, DN.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the US Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images Three House Democrats are still pushing for relief on the $10,000 limit on the federal deduction for state and local taxes, known as … Read more

California governor: $98B surplus backs true pro-life state

SACRAMENTO, Calif. (AP)—California Gov. Gavin Newsom on Friday pledged to use the state’s record-breaking $300 billion budget, including an unprecedented nearly $100 billion surplus, to “future proof” the state from the impacts of a volatile midterm election cycle that he fears will undermine abortion access, gun safety and privacy protections across the country. The first-term … Read more

67% of Americans have no estate plan. Here’s how to get started on one

Justin Paget | digitalvision | Getty Images The Covid-19 pandemic has increased Americans’ awareness of the need to have a will, living trust or other similar end-of-life document prepared. Yet only about 33% of Americans have put these plans in place, according to a new survey from senior living referral service Caring.com. That means that … Read more

Biden’s budget proposes tax hike on married filers over $450,000

President Joe Biden introduces his budget request for fiscal year 2023 on March 28, 2022 in Washington. Anna Moneymaker | Getty Images President Joe Biden released his 2023 federal budget request on Monday, calling to hike the top marginal income tax rate to 39.6% from 37%, a proposal floated by the administration last year. The … Read more

Bipartisan lawmakers push for IRS answers on problems facing taxpayers

Sign outside the Internal Revenue Service (IRS) headquarters in Washington, DC Bloomberg | Bloomberg | Getty Images A group of bipartisan lawmakers is pressing the IRS for answers on lingering issues amid a backlog of millions of unprocessed returns. Senses. Bob Menendez, DN.J., and Bill Cassidy, R-La., members of the Senate Finance Committee overseeing the … Read more

Money on the table: child credit $ available via tax returns

The Biden administration wants families with children to know that there is roughly $193 billion waiting for them — all they need to do is file their taxes to claim it. That estimated total is what remains of the expanded child tax credit, and the administration is concerned that some of those most in need … Read more