ACA Deadline Extended
The Obama administration has extended the deadline for enrolling in a health plan and avoid tax penalties through March 31, according to the Seattle Times. Originally, people had until the middle of...
View ArticleTreasury: U.S. Lost $9.7B on GM Bailout
As the U.S. government winds down its stake in General Motors, which it bought in 2009 amidst the height of the financial crisis, a new report from the Treasury Department says that the deal has...
View ArticleIRS Sent Out $3.2B in Bogus Refunds
The IRS has sent out thousands of refund checks that were likely part of identity theft scams, according to USA Today. Overall, the IRS failed to detect 1.5 million fraudulent returns, ultimately...
View ArticleObama Reveals Healthcare Patch
President Barack Obama, under mounting pressure over cancelled insurance policies due to the Affordable Care Act, announced today that those whose policies are being cancelled will get to keep their...
View ArticlePressure On to Complete Volcker Rule
Regulatory agencies are gearing up to complete their draft of the so-called "Volcker Rule" that came about as part of the Dodd-Frank Act, though are still hobbled by internal divisions, according to...
View ArticleReport: Fake Numbers SOP for Pentagon
False figures, ranging from simple number fudging to just making them up entirely, is not only rife at the Pentagon, but is actually standard operation procedure, according to an investigation by...
View ArticleSenator Floats Tax Reform Package
Senator Max Baucus (D - Montana), the chair of the Senate Finance Committee, has released a series of discussion drafts that he hopes will be the first step in a major overhaul of the United States tax...
View ArticleCongress Poised to Strike Bland Bargain
The House and Senate are set to finish a relatively drama-free budget agreement compared to earlier fiscal brouhahas, mainly by avoiding any hot-button areas that might cause one side or another to...
View ArticleGOP May Move on Tax Reform in 2014
Fresh off striking a compromise on the budget that, so far, seems likely to pass, congressional leaders are considering something far more ambitious: a restructuring of the federal tax code, according...
View ArticleWho Gets What in Taxes?
The Congressional Budget Office has released a report breaking down how federal taxes are distributed in the U.S. As you might guess, the top tier pays the most in terms of both proportion of income...
View ArticleACA Mandate Lifted for Cancelled Plans
For those who lost their health coverage due to their insurance policies not meeting Affordable Care Act requirements, the White House has announced some measure of relief, saying that these...
View ArticleTaxpayer Advocate Releases 2013 Report
IRS Taxpayer Advocate Nina E. Olson released her 2013 annual report to Congress yesterday, and in it called for the establishment of a Taxpayers Bill of Rights, more funding for the IRS itself, and for...
View ArticleInside the CFPB
The Washington Post has written an article that explores the trials and tribulations of forming and managing the Consumer Financial Protection Bureau, the new regulatory agency on the block.read more
View ArticleTax Reform May Be Put on Hold
While some legislators may have hoped to put tax reform on the agenda for 2014, those plans may have to be scuttled in favor of directing their energy, instead, to preserving tax measures they already...
View ArticleSEC Announces Exam. Priorities
The Securities and Exchange Commission has released its list of examination priorities for 2014, detailing where they want to devote the most energy in the various sectors that they regulate. In...
View ArticleCongress Agrees on $1.012 Trillion Plan
Negotiators in the House and Senate have come up with a compromise bill that, at $1.012 trillion, would fund the federal government for the next eight and a half months, according to the Wall Street...
View ArticleBusiness Economists Upbeat
Business economists, that is economists who are employed by U.S. businesses, are not only optimistic about the future, they don't think the upcoming Fed tapering or the rollout of the Affordable Care...
View ArticlePOTUS Pushes Savings in SOTU
Calling attention to the fact that most Americans don't have enough to retire on, and saying that Social Security simply won't be enough, President Barack Obama, in his State of the Union address,...
View ArticleIncome Tax Nearing Half of Fed. Cash
A new report from the Congressional Budget Office estimates that income taxes may soon make up half of all federal tax income. Currently, it makes up about 47 percent of federal tax revenues, though by...
View ArticleHouse Approves Debt Ceiling Increase
In contrast to the sturm und drang that previous debt ceiling debates, the House of Representatives approved a clean debt ceiling increase last night with little acrimony and no special conditions,...
View Article