She says the budget increase will not impact middle-class tax audits. Secretary of the Treasury Janet Yellen sent a letter to the Internal Revenue Service (IRS) last week…
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Senate Passes “Inflation Reduction Act”
$740 billion bill addresses social spending and taxes. In a session that convened on Saturday, the U.S. Senate spent the night and part of Sunday working its way…
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Senator Leahy Has Surgery After Breaking Hip
He fell in his home in Virginia. Senate President Pro Tempore Patrick Leahy of Vermont, the longest-serving member of the Senate, fell at his home and his undergone surgery…
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CBO Report Says Taxes Will Rise Higher
Highest for individuals since 1913. The nonpartisan Congressional Budget Office (CBO) has released its budget and economic outlook for 2022 and it shows that federal taxes are rising…
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President Sets Out Plan to Fight Inflation
He will “build on historic recovery.” On Tuesday, President Biden laid out a three-part plan for combating high inflation. “We have a chance to build on a historic recovery…
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Individual Income Taxes Surge
Will go higher as previous administration’s tax cuts expire. Americans are now paying the most in individual income taxes ever. According to a new budget analysis presented to…
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President Says Inflation is Top Domestic Priority
Meanwhile, gas prices hit all-time high. President Biden stated on Tuesday that addressing inflation is his “top domestic priority” particularly as midterm elections loom. “I want everyone to know…
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White House Planning New Type of Income Tax
Unrealized gains of billionaires are the new tax target. President Biden announced a new taxation plan he says will raise an additional $1 trillion by fundamentally changing the…
Read MoreMary G. Ryan, Alcohol, Tobacco, Tax, and Trade Bureau
Mary G. Ryan is Administrator of the Alcohol, Tobacco, Tax, and Trade Bureau. Her office regulates and collects taxes on trade and imports of alcohol, tobacco, and firearms within…
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