Naomi Jagoda
Senior Content Editor at Bloomberg Tax
Senior content editor at Bloomberg Industry Group. @Penn alum. N.Y. native. https://t.co/gigJ5xESwA
Articles
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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.
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1 week ago |
news.bloombergtax.com | Naomi Jagoda |Herb Jackson
‘Revenge Tax’ Still Meaty in Senate BillSenate Republicans may have altered the so-called revenge tax on foreign companies in their version of the GOP tax bill, but their provision still has all its teeth. The Senate’s iteration of proposed Section 899 delays the effective date of the tax for a year, compared with the House-passed bill. It also caps the tax rate increase at 15 percentage points, down from the 20-percentage-point maximum in the House bill.
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1 week ago |
news.bloombergtax.com | Naomi Jagoda |Chris Cioffi
Uneven Benefits of Tax BillThis week is a big one for Republican efforts to pass a massive tax bill by July 4, with the Senate poised to release its legislative text on the tax portion of their measure. The text is likely to come out Monday, according to a person familiar with the matter. The GOP is touting its signature legislation of President Donald Trump’s second term as a measure that will benefit all Americans.
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2 weeks ago |
news.bloombergtax.com | Naomi Jagoda |Erin Slowey
Senate Republicans Weigh $30,000 SALT CapSenate Republicans seeking to put their mark on the House-passed tax-and-immigration package are considering raising the state and local tax deduction cap to $30,000, lower than the House’s $40,000 plan. Sen. Thom Tillis, a moderate North Carolina Republican involved in the discussions, said senators are discussing reducing the cap to at least that amount.
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2 weeks ago |
news.bloombergtax.com | Naomi Jagoda
Senate Poised to Postpone ‘Revenge’ TaxSenate Republicans are considering pushing back when the Section 899 “revenge” tax would take effect as they work to make changes to the House’s massive tax-and-spending package, a key senator said. “At the very least I expect a delay,” Sen. Thom Tillis (R-N.C.), a member of the Senate’s tax-writing committee, told reporters Tuesday, adding that the timing is under discussion.
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RT @ReporterCioffi: CONFIRMED - Rep. Billy Long is the next IRS commissioner. No Republicans were opposed to his nomination
RT @Zachary_Cohen: 🧵Bloomberg @tax and @bpolitics have been poring over House Republicans' tax bill released today. Here's what we've seen:
RT @elwasson: KEY ITEMS in the tax bill https://t.co/LfLxPHkunM