Chris Cioffi

Washington, D.C.

Congress Reporter at Bloomberg Tax

Reporter @tax covering Congress • Adjunct data/websites @merrillcollege • Was @RollCall @Newsobserver • 💔 NC sports.

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Articles

Tax bill’s EITC rules could hamstring taxpayers, IRS

4 days ago | news.bloombergtax.com | Naomi Jagoda |Chris Cioffi

EITC Provision Could Swamp IRSAs Senate Republicans eye passing their tax-and-spending bill this week, tax researchers are sounding the alarm about a proposal that would increase documentation requirements for a tax credit for low-income households. A provision in both the House and Senate versions of the bill would direct the IRS to develop a system to verify that taxpayers’ children qualify for the earned income tax credit before it can be claimed.
Here’s the Status of the GOP Tax Bill Moving Through Congress

1 week ago | news.bloombergtax.com | Chris Cioffi

The Republican-led Senate Finance Committee unveiled its portion of the mammoth tax-and-spending legislation that’s quickly moving through Congress, and there’s a lot to unpack. The Senate bill has dozens of differences from the House version.
Here’s the Status of the GOP Tax Bill Moving Through Congress

1 week ago | news.bloomberglaw.com | Chris Cioffi |Kim Dixon |Martha Mueller Neff

The Republican-led Senate Finance Committee unveiled its portion of the mammoth tax-and-spending legislation that’s quickly moving through Congress, and there’s a lot to unpack. The Senate bill has dozens of differences from the House version.
Senate Republican tax bill would end federal taxes on many guns, silencers

1 week ago | americanmilitarynews.com | Steven Dennis |Chris Cioffi

Senate Republicans’ tax bill would eliminate federal taxes and regulations on short-barreled rifles, short-barreled shotguns and silencers as well as preempt state or local licensing requirements in a win for gun-rights advocates. The legislation unveiled by the Senate Finance Committee on Monday would expand on House legislation exempting silencers under the National Firearms Act of 1934, saving buyers from a $200 transfer tax as well as manufacturing taxes, registration and other requirements.
Senate Proposes Permanent Charitable Deduction for Nonitemizers

1 week ago | news.bloombergtax.com | Chris Cioffi

Senate Republicans are proposing to create a permanent, more generous charitable contribution deduction for taxpayers that take the standard deduction. The Senate tax bill released late Monday would allow a permanent write-off of $1,000 for single filers and $2,000 for joint filers who take the standard deduction and currently can’t claim a deduction for their charitable contributions. That’s far above House lawmakers’ proposed $150 and $300 levels that would expire at the end of 2028.
Sports Team Owners’ Write Off Spared in Senate Tax Bill

1 week ago | news.bloombergtax.com | Zach Cohen |Chris Cioffi

Sports team owners got a break in the Senate GOP’s proposed tax bill, as lawmakers opted against including restrictions on how much they can write off on the declining value of their franchises, breaking with the House tax proposal. The proposed Senate legislation bill, released Monday, omits the House version of the legislation that would have restricted the write-off to half of the declining value of the franchise purchased by sports owners.
Senate Republican tax bill would end federal taxes on many guns, silencers

1 week ago | gazettextra.com | Steven Dennis |Chris Cioffi

WASHINGTON - Senate Republicans' tax bill would eliminate federal taxes and regulations on short-barreled rifles, short-barreled shotguns and silencers as well as preempt state or local licensing requirements in a win for gun-rights advocates.
Senate Republican tax bill would end federal taxes on many guns, silencers

1 week ago | dailyitem.com | Steven Dennis |Chris Cioffi

WASHINGTON — Senate Republicans’ tax bill would eliminate federal taxes and regulations on short-barreled rifles, short-barreled shotguns and silencers as well as preempt state or local licensing requirements in a win for gun-rights advocates.
Senate Republican Tax Bill Would End Federal Taxes on Many Guns, Silencers

1 week ago | bloomberg.com | Steven Dennis |Chris Cioffi

A pistol with a silencer at a National Rifle Association outdoor sports trade show. Photographer: Dominick Reuter/AFP/Getty Images(Bloomberg) -- Senate Republicans’ tax bill would eliminate federal taxes and regulations on short-barreled rifles, short-barreled shotguns and silencers as well as preempt state or local licensing requirements in a win for gun-rights advocates.
Senate Proposes Tax Hikes on Income Earned Overseas

1 week ago | news.bloombergtax.com | Chris Cioffi

Senate tax writers on Monday proposed a significant tax increase on companies’ foreign-earned income following concerns from big business that Congress, in search for more revenue to fund their sweeping tax legislation, would do just that. Three marquee international tax provisions from the 2017 GOP tax law would have boosts to their effective rates under the Senate’s legislation, according to a bill summary released Monday.