Senate Finance Still Studying Tax Extenders

The task forces set up last month by Senate Finance Committee Chairman Chuck Grassley (R-IA) and ranking member Ron Wyden (D-OR) to study what to do about dozens of expired tax breaks are now hoping to wrap up their work by the end of July. Grassley had initially said the task forces would report their… Read more »

Outgoing Taxpayer Advocate Starts Nonprofit

National Taxpayer Advocate Nina Olson will retire at the end of July after 18 years as its chief and said last week that she is forming a nonprofit outside of the government to continue to champion taxpayers’ rights. Olson spoke candidly June 21 in a tax forum hosted by New York University School of Professional… Read more »

Tax Package Debate Likely to Be Protracted

Negotiations over a tax package that passed the House Ways and Means Committee last week are likely to draw out over the summer as lawmakers debate whether and how to offset the cost of various provisions. The Ways and Means Committee last week advanced four tax bills, including a measure to repeal the 21 percent… Read more »

Charitable Giving Dropped After 2017 Tax Law

Donations to charities dropped by 1.7 percent last year after inflation, according to a report released this week by Giving USA. While corporate and foundation donations increased overall, giving by individuals dropped 3.4 percent last year. The overall decrease is the first drop in charitable giving in the U.S. since the Great Recession, the report… Read more »