Tag Archives: congress
IRS Commissioner Nominee Appears Before Congress
Last week, a confirmation hearing was held for Daniel Werfel, who is the next nominee for commissioner of the Internal Revenue Service. Although both sides of the aisle had a plethora of questions for Werfel, it does appear that both … Continue reading
State Senators to Reintroduce Restaurant Revitalization Tax Credit
Sens. Ben Cardin (D-Md. ), Sherrod Brown (D-Ohio) and Patty Murray (D-Wash.) are reintroducing the Restaurant Revitalization Tax Credit Act to the new 118th Congress. The legislation would create a special tax credit for those who applied for and were … Continue reading
IRS Funding Cut – Taxes Affected
Recently, Congress passed an omnibus spending bill (an omnibus bill seeks to amend, repeal or enact several Acts, and it is characterized by the fact that it has several related but separate parts) that would reduce a budget increase … Continue reading
Reviewing Non-Spouse IRA Beneficiary Rules
At the end of last year, Congress was considering tying up a tax revenue loophole known as the Stretch IRA. Currently, a traditional IRA can be passed from one generation to the next, thereby extending tax-deferred growth to a non-spousal … Continue reading