NEW: GOP lawmakers overcame Democrats’ opposition to advance a funding bill to the that proposes cuts to the IRS, Securities and Exchange Commission, and District of Columbia, while providing a slight increase to the GSA buildings fund.
news.bloombergtax.com/daily-tax-re...
Posts by Chris Cioffi
Paper Checks: At least 2 million taxpayers, many expecting refund checks, instead got letters from the IRS that said they put incorrect or omitted bank account information on their return.
That's meant weeks of waiting for some, who can least afford it
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NEW: Sen. Elizabeth Warren slammed proposed IRS rules scrapping reporting requirements for complex partnerships, saying in a letter that it neutralizes one of the few remaining tools the agency has to identify abusive partnership transactions. buff.ly/MOctm5v
NEW: Senate Democrats, led by Sen. Elizabeth Warren, sound the alarm on proposed IRS rules that drop reporting on complex partnerships. The move could strip away a key tool to catch abusive transactions, they write to Treasury officials
NEW: An energy company that claimed $370 million in alternative fuel tax credits for burning the liquid natural gas in its tankers is getting questions from Finance ranker Ron Wyden who called the credit a “novel and highly questionable tax position."
news.bloombergtax.com/daily-tax-re...
NEW: Republicans released their funding proposal for agencies that include Treasury/IRS, GSA, DC, shaving a $1 billion from current funding.
The legislation calls for $10.2 billion for IRS ~9% cut from fy 2026, and $792 million for DC, a 9.8% cut.
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NEW Senators are introducing legislation that would provide tens of billions of dollars funding to the IRS, undoing a series of clawbacks.
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Taxpayers with tip and overtime income were more likely to know about the GOP’s 2025 tax-and-spending law and more likely to file their taxes early, a sign of potential enthusiasm about the law’s new breaks, a new Bipartisan Policy Center survey found. buff.ly/0NAUPJp
New from me: Tax cut proposals from high-profile Democrats come as voters express affordability concerns and after many Democrats embraced President Donald Trump’s campaign proposals-turned-policies of tax breaks for tips and overtime
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NEW: Trump's budget request includes a $1.4 billion cut to IRS, which represents almost all of its proposed $1.5 billion reduction to Treasury funding.
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Plants r cool: Over time, the cherry trees planted close together around the basin will at times work together to provide nutrients to the least healthy trees.
“That grove of individual trees is going to become one superorganism,” he said.
New from ME: Republicans’ go-to tool to move major recent tax legislation through Congress is an expedited process that allows budget-related bills to pass on a party-line vote, but now lawmakers are eyeing it for other priorities.
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The son of Sen. Jim Justice is fighting a $21.4 million dollar tax bill, alleging the IRS wrongly repealed refunds stemming from coal mining losses and amended returns claimed on several of the family’s business entities.
news.bloombergtax.com/daily-tax-re...
NEW: A House Ways and Means subcommittee scheduled a field hearing on Tuesday, April 14, in Sarasota, Florida, according to three sources familiar with the panel’s plans.
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SCOOP: Rep. Ron Estes (R-Kan.) is introducing legislation that would repeal the adjusted taxable income limitation that excludes some global income of US companies. The bill has about a dozen GOP cosponsors.
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ICYMI: A bill aimed at strengthening the IRS whistleblower program sailed through Wednesday’s House Ways and Means Committee markup with no opposition.
news.bloombergtax.com/daily-tax-re...
GOP Sen. Rick Scott is the latest public figure to sue Booz Allen Hamilton Inc. for the recovery of inflicted damages caused by the company and its former IRS contractor who leaked thousands of private tax returns to the New York Times and ProPublica.
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Sen. John Kennedy stands in front of a patriotic floor chart while discussing the SAVE Act voting bill being considered on the Senate floor.
Middle-class tax cuts, paid for with millionaire levies, should be part of future Dems' tax plans, Chris Van Hollen says.
It's representative of ideas irking progressives questioning if new revenue should instead be used for easing child poverty, job losses or housing costs.
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The White House is “ignoring or evading” requirements for Senate-confirmed leadership at the IRS, Senate Democrats wrote in a new letter.
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LDA news: Excited to lead my first #NICAR26 session today on LobbyR, an R package I developed that turns federal lobbying disclosures into structured data.
It’s a lot easier with than using the site!
Check it out on CRAN: cran.r-project.org/package=lobbyR
schedules.ire.org/nicar-2026/#...
NEW: DC taxpayers should file their taxes as if the city’s tax code deviations from federal law are in effect, the DC CFO says.
But litigation risk and other factors means he can’t report how much revenue will be raised by decoupling from the GOP tax law.
NEW: GOP senators want Treas. Sec. Scott Bessent to provide additional tax relief on capital gains without Congress.
Sens. Ted Cruz and Tim Scott argue that Bessent has the authority to define cost basis, and say it would help boost housing supply.
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NEW: Senate Finance leaders released new tax administration legislation following last year's discussion draft, which has dozens of changes to tax collection procedures and administration.
It keeps provisions allowing IRS to regulate tax return preparers.
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BAT on Deck? Congress’ Joint Economic Committee is set to hold a hearing March 4 on the feasibility and design of a border-adjusted tax, after the US Supreme Court struck down President Donald Trump’s sweeping global tariffs.
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The resolution passed by Congress two weeks ago failed to roll back a Washington, DC, tax law and shouldn’t upend filing season in the nation’s capital, the district’s top legal officer found in an opinion issued Tuesday. buff.ly/YnQTonq
Penny rounding is in full effect at a local DC grocery chain.
A GOP measure President Donald Trump signed Wednesday to block a local Washington tax law is all-but-certain to prompt legal challenges—possibly even from residents of the nation’s capital.
news.bloombergtax.com/daily-tax-re...