Free Republic

Personal Exemption A personal exemption is the amount that you can deduct from your income for every taxpayer and most dependents claimed on your return. Current law: $4,050 per person, which means a married couple with two dependents would receive a personal exemption of $16,200. New law: The personal exemption is eliminated. The exemption returns after 2025.

The division of the Internal Revenue Service that improperly scrutinized the tax-exempt status of conservative groups sent confidential information on 31 conservative groups to the well-funded liberal nonprofit journalism organization ProPublica, according to a revelation made by ProPublica Monday. “The same IRS office that deliberately targeted conservative groups applying for tax-exempt status in the run-up to the 2012 election released nine pending confidential applications of conservative groups to ProPublica late last year,” according to the ProPublica report. “In response to a request for the applications for 67 different nonprofits last November, the Cincinnati office of the IRS sent ProPublica applications...

The International Monetary Fund warned on Monday the United States must raise the debt ceiling quickly and get its debts under control for the sake of the global economy. The IMF's urging came as part of a review of U.S. economic prospects in which it concluded a slow-paced recovery can continue with some fiscal tightening but stressed that public debts were a concern. "Directors (on the IMF board) highlighted the urgency of raising the federal debt ceiling and agreeing on the specifics of a comprehensive medium-term consolidation program," the IMF said as efforts continued between the Obama administration and lawmakers.

MoveOn rakes in $120K+ off Palin email @ 11:01 am by Jeremy P. Jacobs In yet another example of Sarah Palin's lightning rod quality, MoveOn.org has raised over $120,000 in just a day after sending out an email criticizing the Alaska governor and asking for money. On Wednesday, MoveOn sent an email to supporters criticizing Palin's op-ed on energy issues in the Washington Post. The group asked for money to run an ad in response to Palin. At the time of this writing on Thursday, MoveOn has raised $124,000 and has extended its goal to $200,000. Palin has a high...