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Posts by Chris Cioffi

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House GOP Appropriators Advance Billions in Cuts to IRS, SEC GOP lawmakers overcame Democrats’ opposition to advance a funding bill to the House floor that proposes cuts to the fiscal 2027 budgets of the IRS, Securities and Exchange Commission, and District of…

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...

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While Trump Touts Tax Cuts, Some Americans Wait for Their Money Within hours of filing his tax return, Chris Carroll realized he’d given the IRS the wrong bank account information. It took him weeks to clear up the mistake.

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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Warren Slams Move to End IRS Partnership Oversight Rules (1) Proposed IRS rules scrapping reporting requirements for complex partnerships will neutralize one of the few remaining tools the agency has to identify abusive partnership transactions, Senate…

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

11 hours ago 0 0 0 0
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Warren Slams Move to End IRS Partnership Oversight Regulations Proposed IRS rules scrapping reporting requirements for complex partnerships will neutralize one of the few remaining tools the agency has to identify abusive partnership transactions, Senate…

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

12 hours ago 1 0 0 0
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Wyden Inquiries $370 Million Alternative Fuel Cheniere Claimed 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 the top Democratic tax writer.

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...

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House GOP Spending Bill Floats Cuts to IRS, SEC Funding (1) House Republicans floated annual funding cuts to the IRS and the District of Columbia, but called for a slight increase to the General Services Administration buildings fund as part of a measure that…

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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6 days ago 1 0 0 0
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IRS Funding Clawbacks Would Be Reversed Under Senators’ Bill Senators are introducing legislation that would provide tens of billions of dollars funding to the IRS, undoing a series of clawbacks.

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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Bloomberg Tax

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

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Democrats Go Big on Tax Cuts Ahead of 2028 Presidential Race Influential Democrats are embracing broad tax cut plans for working-class Americans with an eye toward winning control of Congress in November and the White House in 2028.

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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On NASA’s Moon Mission, the Biggest Headache Has Been the Toilet As NASA’s Artemis II astronauts make their way to the moon this weekend, their test flight has gone surprisingly well without any major issues, save for one piece of technology giving the crew some…

On NASA’s Moon Mission, the Biggest Headache Has Been the Toilet buff.ly/einKmY8

2 weeks ago 0 0 0 0
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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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Sea wall rebuild at Tidal Basin almost finished, and Stumpy is still part of it - WTOP News The National Park Service says the Tidal Basin portion of the sea wall restoration project will be completed by the end of April, reopening the newly rebuilt area to visitors.

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.

3 weeks ago 1 0 0 0
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GOP Shifts Away From Taxes in Push for Second Partisan Megabill 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…

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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3 weeks ago 0 0 0 0
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Sen. Jim Justice’s Son in $21 Million Tax Tiff Over Coal Losses The son of Sen. Jim Justice (R-WV) 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 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...

3 weeks ago 0 0 0 0
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Ways and Means to Hold April Field Hearing on Health in Florida 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.

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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3 weeks ago 0 0 0 0
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GOP Tax Writer Floats Bill to Boost Business Interest Deductions American companies facing higher after-tax capital costs because of how tax law excludes global income from interest deductibility calculations would get a break under new legislation proposed by a…

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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Bloomberg Law - Product Log In Sign in to Bloomberg Law for access to our comprehensive legal research software.

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...

3 weeks ago 0 0 0 0
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Sen. Rick Scott Sues Booz Allen, Charles Littlejohn for Tax Leak US Sen. Rick Scott, a Florida Republican, 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…

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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4 weeks ago 0 0 0 0
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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.

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From ‘OLDAF’ to ‘ELONNO’: Which DC-area custom license plates were rejected in 2025? - WTOP News Maryland’s Motor Vehicle Administration rejected over 3,700 custom tags in 2025. In D.C., the list of rejected license plates was much shorter.

Last year in D.C., rejected tags ranged from “DEI” and “ELONSUX” to “THXDOGE” and “SH1TBOX.”

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Democratic Lawmakers Pitch Millionaire Tax in Affordability Plan Sen. Chris Van Hollen proposed paying for tax breaks for middle-class Americans with levies on millionaires—something the Maryland Democrat said during a Thursday press conference should be a…

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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Democrats Blast White House Over Lack of Permanent IRS Chief The White House is “ignoring or evading” requirements for Senate-confirmed leadership at the IRS, Senate Democrats wrote in a new letter.

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/#...

1 month ago 1 0 0 0
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DC to Continue Filing Season, Ignore Congress’ Decoupling Rebuke Taxpayers in Washington, DC, should file their taxes as if the city’s tax code deviations from federal law are in effect, the city’s top financial official said.

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.

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Cruz, Scott Seek Capital Gains Tax Cut, Skirting Congress GOP senators want Treasury Secretary Scott Bessent to provide additional tax relief on capital gains without going to Congress in hopes of boosting the housing supply.

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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Top Senate Tax Writers Float IRS Administration Reforms Bill (1) The top Senate tax writers released new legislation Thursday to address a wide range of tax administration and procedure issues at the IRS.

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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Congress Missed 30-Day Window to Repeal DC Tax Law, City AG Says 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…

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

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Penny rounding is in full effect at a local DC grocery chain.

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Clash Over Senate’s DC Tax Vote Likely to Spur Resident Lawsuits 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.

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...

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