CCH Tax Day Report President Trump announced a tax reform plan. Lawmakers heard testimony about the filing season and the IRS posted updated filing season statistics. White House Senior administration officials outlined President Trump’s tax proposals (TAXDAY, 2017/04/27, W.1). Congress House. Treasury and IRS officials testified about the filing season (TAXDAY, 201704/27, C.1). Lawmakers discussed […]

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CCH Tax Day Report President Trump has unveiled his highly anticipated tax reform outline—the “2017 Tax Reform for Economic Growth and American Jobs.” This blueprint calls for dramatic tax cuts and simplification: lower individual tax rates under a three-bracket structure; doubling the standard deduction; and more than halving the corporate tax rate, along with changing […]

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CCH Tax Day Report President Trump on April 26 released a much-anticipated outline of his administration’s tax reform proposals (TAXDAY, 2017/04/27, W.1). Democratic and Republican lawmakers have since been weighing in with their perspectives on tax reform and the outline. House Minority Leader Nancy Pelosi, D-Calif., called Trump’s tax reform outline a “wish list for […]

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CCH Tax Day Report An individual who was transferred to a state hospital to receive mental healthcare while he was incarcerated was not entitled to an Earned Income Tax Credit (EITC). During the tax year at issue, the individual earned income performing part-time custodial duties for the hospital. The individual argued that he was entitled […]

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CCH Tax Day Report The House Ways and Means Oversight Subcommittee examined the 2017 tax-filing season in an April 26 hearing. “The annual hearing is an opportunity to hear about the progress and challenges IRS has administering the tax code – and to learn what Congress may be able to do to help,” Chairman Vern […]

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CCH Tax Day Report Senior administration officials outlined President Trump’s tax proposals at a news conference in Washington, D.C. on April 26. “Today we are putting out core principles,” Treasury Secretary Steven Mnunchin told reporters. Mnunchin and National Economic Council Director Gary Cohn said that the proposals, which include reducing individual and businesses taxes, along […]

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