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taxfoundation.org /1 week ago

Why the US Needs a Fiscal Commission to Help Solve the Debt Crisis

The federal government’s debt burden and interest on the debt are near record levels and headed higher, raising legitimate concerns about an eventual debt crisis. Given the increas...

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accountingtoday.com /3 weeks ago

Senate passes TAS Act

The Senate unanimously approved the Taxpayer Assistance and Service Act, a set of 65 bipartisan reforms to modernize the IRS and strengthen taxpayer rights.

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journalofaccountancy.com /1 month ago

Congress approves funding bill that maintains IRS budget

A stopgap funding bill headed to the president would maintain the IRS’s $11.2 billion annual budget through Dec. 11 and prevent a second $11.6 billion funding rescission for now.

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lawliberty.org /3 weeks ago

A New (Fiscal) Year’s Resolution

Even the federal fiscal year gets a farewell party in Washington. Some DC-area bars host “End of Fiscal Year” events as staffers and government contractors mark the occasion (or fi...

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currentfederaltaxdevelopments.com /1 month ago

Analysis of Income Tax Modifications Under H.R. 5334

Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, H.R. 5334, 119th Cong. (2026) (enrolled bill transmitted to the President Sept. 17, 2027); 26 U.S.C. § 62(a)(2)(D), (...

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reason.com /1 month ago

The Fed Can't Fight Inflation Alone. Will Congress Do Its Part?

Lawmakers have to show they'll back the national debt with future fiscal surpluses, which means reining in government spending.

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currentfederaltaxdevelopments.com /3 weeks ago

Treasury Announcement of Automatic Enrollment Completion for Trump Accounts: Technical Analysis of Account Claiming, See...

Trump Accounts, 91 Fed. Reg. 63200 (Sept. 30, 2026) (codified at 26 C.F.R. pt. 1) (TD 10056) Trump Accounts, 91 Fed. Reg. 63215 (proposed Sept. 30, 2026) (to be codified at...

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currentfederaltaxdevelopments.com /1 day ago

The Clergy Act of 2026: Reopening the Revocation Window for Ministerial SECA Exemption Elections

Clergy Act, Pub. L. No. 119-148, §§ 1–3, 140 Stat. 88 (Oct. 20, 2026) (enacting H.R. 227, 119th Cong. (2026); non-codified provision impacting 26 U.S.C. § 1402 and 42 U.S.C. §...

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johnlocke.org /1 week ago

Documenting Congress’ ‘$2 trillion problem’

Editors at National Review Online scrutinize one of the key issues yet to be addressed on Capitol Hill. As lawmakers returned home for the final stretch of the fall campaign, we go...

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