Word: deductionism
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But before any bill can get to the Senate floor, lawmakers have to figure out a way to pay for it, and their current proposal is running up against stiff resistance from Democrats. Polls show that voters are resistant to any means of paying for health reform - and especially to...
Eventually the stimulus package included an additional $50 million for the National Endowment for the Arts (NEA). President Obama has also proposed increasing the NEA budget next year by $6 million, to $161.3 million. And in May he nominated a firecracker, the Broadway producer Rocco Landesman, to be the NEA...
It's easy to see the appeal, if you look at the numbers. The Congressional Budget Office has estimated that fully counting employer-provided health benefits as taxable income could bring as much as $246 billion a year into federal coffers. But the politics of taxing something that workers now...
Your chances of getting a tax break. The bad news is that in many cases, investors can't write off as much as they might think. Among the restrictions: you must completely liquidate your account in order to claim a loss. You have to claim it as a miscellaneous deduction...
It takes an estimated 32.7 hours to complete a standard 1040 income tax form, according to the Internal Revenue Service, so it's no wonder that nearly two-thirds of Americans get professional help. The U.S. income tax code, replete with embellishments like the earned-income tax credit and the...