Taxation
IRS says churches may endorse political candidates despite a decades-old federal statute barring them from doing that
IRS says churches may endorse political candidates despite a decades-old federal statute barring them from doing that The IRS has announced that churches and other houses of worship can endorse political candidates without risking their tax-exempt status, contradicting a decades-old federal statute known as the Johnson Amendment. The Johnson Amendment, passed in 1954, prohibits charities […]
🏛️ Politics
Grover Norquist’s lasting influence on the GOP and US economic policy
Grover Norquist’s lasting influence on the GOP and US economic policy Grover Norquist’s influence on the GOP and US economic policy has been lasting, with his anti-tax stance shaping Republican dogma since the 1980s. Norquist’s organization, Americans for Tax Reform, effectively institutionalized a permanent tax revolt in Congress through its “Taxpayer Protection Pledge,” which became […]
🏛️ Politics
For Trump’s ‘no taxes on tips,’ the devil is in the details
For Trump’s ‘no taxes on tips,’ the devil is in the details President Trump’s promise to eliminate taxes on tips may seem like a windfall for service workers, but the fine print reveals a more complex story. The “One Big Beautiful Bill Act” and the “No Tax on Tips Act” propose tax breaks for cash […]
🏛️ Politics
President Trump Announces He Will Revoke Harvard’s Tax-Exempt Status
President Trump Announces He Will Revoke Harvard’s Tax-Exempt Status President Trump has announced that he will revoke Harvard University’s tax-exempt status, citing “what they deserve” as the reason. If confirmed, Harvard would have to pay federal income taxes on its revenue and donations could be lost if donors can no longer claim tax deductions on […]
🏛️ Politics
Social Security’s trust fund could run out of money sooner than expected due to changes in taxes and benefits
Social Security’s trust fund could run out of money sooner than expected due to changes in taxes and benefits Social Security’s trust fund could run out of money sooner than expected due to changes in taxes and benefits, potentially leading to a 21% cut in monthly checks for recipients by 2036. The program’s funding outlook […]
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