Keep up to date with the latest news for taxpayers and small business owners. These headlines reflect the top changes in tax law that could affect the taxes and finances of the majority of our clients. Check back to stay informed on the top headlines, law changes, tax proposals, and much more.
Here are some of the important stories to keep up with today:
Latest News for Taxpayers: August 8-14
CNBC: Repeal of the cap on state and local tax deduction still in play. Here’s what to watch
Bloomberg: U.S. Inflation Forecasts Keep Rising as Supply Constraints Loom
Yahoo! Finance: Child Tax Credit: Many families used the first payments to pay off debt
August 12
Forbes: California Congressman Mark Takano Introduces Legislation For A Four-Day Workweek
CNBC: Social Security cost-of-living adjustment could be 6.2% in 2022
Barron’s: How Will the U.S. Pay for the $3.5 Trillion? Taxes, Mostly.
August 11
The Washington Post: What’s in the $1.2 trillion Senate infrastructure package
Reuters: U.S. consumer price increases slow in July, signs inflation peaked
CNBC: Labor shortage gives retail and restaurant workers the upper hand—for now
August 10
CNBC: Main Street overconfidence: America’s small businesses aren’t worried about hacking
Forbes: Tax On U.S. Olympic Medals Makes IRS Biggest Winner
August 9
Yahoo! Finance: Move here, get paid: Small towns offer up to $20K just to get you to live there, work remotely
CNBC: Job openings surge above 10 million for first time ever, Labor Department says
Forbes: IRS Payments Abound In July, But Frustration Remains For Those Awaiting Tax Refunds
Latest News for Taxpayers: August 1-7
Yahoo! Finance: Unemployment rate headed to a 50-year low
August 6
CNBC: Payrolls increase 943,000 in July as unemployment rate slides to 5.4%
Yahoo! Finance: Mortgage rates hit new 6-month low as refinance fee ends, delta variant rages
August 5
CNBC: Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate
Business Insider: How unemployed Americans scored a big last-minute win in Biden’s infrastructure bill, cutting a $50 billion measure that could have stripped their benefits
August 4
CNBC: Here’s how much 2021 winners of Mega Millions and Powerball have forked over in taxes
NPR: The Biden Administration Issues A New Eviction Moratorium After A Federal Ban Lapsed
Yahoo! Finance: Mortgage Boom Drives Biggest Jump in Household Debt Since 2013
August 3
CNBC: How language in the infrastructure bill could roil the crypto markets
Reuters: U.S. manufacturing growth cooling; bottlenecks starting to abate
August 2
Associated Press: It’s in and it’s big: Senate unveils $1T infrastructure bill
CNN Business: Supply Chain Interrupted: Here’s everything you can’t get right now
August 1
CNBC: There’s an unemployment cliff coming. More than 7.5 million may fall off
Video Tip: A Quick Look into Higher Education Tax Credits
