The Republican tax plan would change alimony from something that is treated favorably for the people who have to pay it to something that is more of a tax burden. That’s because alimony payments would no longer be deductible from income on the payer’s tax return. The change could make divorce settlements more difficult to […]
Today the House Ways and Means Committee meets to debate the bill to overhaul the tax code. Officially it’s called a markup: committee members offer amendments before it goes to a House vote. What happens during a markup – and what could we see here? Click the audio player above to her the full story.
Congressional staffers, lobbyists, think tanks, and many others are getting ready for a weekend of digging through the 400-plus page GOP tax bill. They will be sorting out where to pick their fights come Monday, when the bill heads to the House Ways and Means Committee for markup. Already weighing in are small businesses, many […]
The GOP tax bill is under a microscope as tax analysts, lobbyists and accountants try to figure out what the proposed changes will mean. One of the details that may lead to a fight is how the plan treats so-called “pass-through” businesses, privately held companies that make up 95 percent of U.S. businesses, whose profits […]
The GOP tax bill as written gets rid of deductions for state and local income taxes and would cap state and local property tax deductions at $10,000. It would also limit the mortgage interest deduction by capping it at $500,000 for future home purchases. These provisions will have a bigger impact in some parts of […]
After months of big promise and bullet-pointed lists, the GOP is out with a tax bill today. It is a long way from final. Democrats, business groups and others are already pushing back hard against elements of the plan. Among the changes the GOP is touting loudest and seems most committed to is a plan […]
