Be on the Lookout for IRS Impersonators

Taxpayers, beware. While the tax filing season winds down, fraudsters continue duping unsuspecting taxpayers by posing as IRS officials. Seniors and newer immigrants are particular targets of the scam that the agency says is one of the most reported frauds in the nation.

In this scam, fraudsters contact victims via phone, mail or email pretending to be an IRS agent and demand immediate payment of allegedly owed back taxes. They frequently threaten victims with arrest, foreclosure or other adverse legal action. Scammers often instruct their victims to wire money or use a prepaid debit card. Continue reading “Be on the Lookout for IRS Impersonators”

GOP Optimism Grows For Tax Bill

There is growing likelihood on Capitol Hill that the Senate will pass its version of the Republican tax reform package this week, as party leaders offer changes in a scramble to win over a half-dozen holdouts.

It’s still difficult to predict the outcome with certainty, as ongoing horse trading is changing the dynamics of the tax reform landscape by the hour. But the belief among Senate Republicans that they’ll get the necessary votes for passage is much stronger than it was yesterday. Continue reading “GOP Optimism Grows For Tax Bill”

Sizing Up The GOP Tax Plans

Congressional Republicans’ push to overhaul the tax code is centered around two basic principles: Providing corporations with a big tax cut while helping average Americans. But like almost every major issue lawmakers tackle, competing House and Senate bills aimed at achieving these goals aren’t as simple or clear-cut as their authors want the public to believe.

Independent analyses of the tax plans undercut the GOP’s rosy predictions for how much middle-income earners would benefit (especially the House version). Although Senate Republicans’ measure is akin to the one House Republicans are preparing to approve this week, they take significantly divergent paths. If both bills pass intact, Republicans will have to broker a compromise among themselves to advance final legislation to President Trump’s desk. Such an endeavor would be messy and contentious, with success far from guaranteed. Continue reading “Sizing Up The GOP Tax Plans”