IRS Opens 2016 Tax Season In IR 2016-05, the IRS announced that tax season will open on January 19, 2016. Because April 15 is Emancipation Day, taxpayers may file until Monday, April 18. There are two exceptions – taxpayers in Maine and Massachusetts will observe Patriot’s Day on April 18… Read More

Dr. Ben Carson Proposes a Flat Tax Following in the path of ten presidential candidates of both parties, Dr. Ben Carson published his proposed tax reform plan on January 5, 2016. Carson proposes a 14.9% flat tax on income. He would protect those with lower incomes. They would pay a… Read More

Tax Reform in 2016? With the new year, optimism for tax reform again breaks forth in Washington. In January the Senate Finance Committee and the House Ways and Means Committee will embark on a journey toward major tax reform. But what is the realistic potential in an election year? The… Read More

Tax Season on Schedule In a December 21 letter (IR-2015-139) the IRS announced the opening of tax season as scheduled on January 19, 2016. Taxpayers may file from January 19 until April 18, 2016. Because Friday, April 15, is Emancipation Day, the due date is Monday, April 18. Two exceptions… Read More

Permanent IRA Rollover! The Protecting Americans From Tax Hikes (PATH) Act of 2015 was passed by votes of 318 to 109 in the House and 65 to 33 in the Senate. With bipartisan support, the bill makes permanent four tax extenders that help donors support their favorite charities. President Obama… Read More

Tax Extenders – Permanent or 2 Years? There were three developments this week that affect the pending tax extenders bill. First, negotiations continue by House and Senate members of both parties. House Ways and Means Chairman Kevin Brady (R-TX) stated, “All parties are negotiating in good faith.” Minority… Read More

Highway Bill Motors Through Congress After 35 short-term Highway Bill extensions, the Fixing America’s Surface Transportation Act (FAST) was passed on December 3, 2015. The House voted 359 to 65 and the Senate approved the bill with a vote of 83 to 16. President Obama is expected to sign… Read More

Tax Extenders Negotiations Continue While most Senators and Representatives are back in their home states or districts for the Thanksgiving holiday, negotiations continue on a tax extenders bill. Staff from the House, Senate and White House are all working on a potential compromise. The negotiators hope to add an… Read More

In a 6-3 decision published on June 25, the Supreme Court upheld the Premium Tax Credit Plan under the Affordable Care Act. The King v. Burwell decision considered the question, “Does the Affordable Care Act (ACA) provide a premium tax credit for both federal and state exchanges?” Chief Justice John… Read More

As Americans are enjoying the 4th of July holiday, the House Ways and Means Committee staff published a summary of efforts to improve the tax code. These efforts highlight the potential changes in three areas of taxation. Permanent Tax Extenders – There are 55 tax provisions that are extended for… Read More