As a seasonal tax preparer for a major firm, this is all bad news to me. With the new GOP Senate coming in, this major snit-fit is VERY LIKELY to cause multiple iterations of bills and veto (threats) just at tax time. My personal guess at this time is that either we stay with current law and lose a lot of these EXPECTED tax benefits in order to have timely IRS filing, or the IRS will NOT be accepting submissions until very late February or March!
UGLY! Who said "Elections have consequences?"
The GOP needs to push tax day to October.
If the bill is truly bipartisan they should have no trouble overriding a veto from the emperor, unless he has issued an EO outlawing them.
All Federal Elections Shall be held on the Day Federal Taxes are Due, All Ballots Shall be Attached to IRS Form 1040.
get to the last paragraph and it says likely nothing happens and they simply extend for a year. I enjoyed the article but the author went a long way to demonstrate that in the end nothing will change.
Anything Propagandico publishes is automatically suspect.
Will someone explain how EITC involves "skin in the game"? These people don't pay anything. They get more back than they pay in. They don't have "skin in the game" because they are playing with our "skin" and couldn't care less if we lose more.
He along with Schumer ("Obamacare bad") are drawing the right lesson from the Nov. election.
I thought there'd be enough Senate Democrats to do so, and march up to the White House and tell Obama that the jig is up. Like the Repubs did to Nixon.
But apparently not.
BTW I'm still waiting for the IRS to realease the Obamacare penalty form.
What Tax Breaks Expired, Changed, or Were Added by the IRS?
List Of Expiring Federal Tax Provisions 2013-2024 [Joint Committee on Taxation, downloads a pdf]