U.S. Budget Deficit Increases 23% in Nine Months
The budget gap could top $1 trillion for the full fiscal year.
U.S. Budget Gap Rises to $205B in November
“The budget picture is deteriorating as the U.S. taxes individuals and companies less and spends more, mostly on defense and benefit payments."
U.S. Budget Deficit Swells to $779B in FY 2018
The White House blames increased spending for the mounting deficit but its own data "suggest falling revenues were a far larger contributor."
U.S. Budget Deficit Widens to $77B in July
Increased government spending and tax cuts are “keeping the country on track to record its biggest annual deficit in six years."
U.S. Budget Deficit Widens to $208B in March
The U.S. government's rising debt "would have serious negative consequences for the budget and the nation," the CBO warned this week.
AICPA Seeks Clarity on Meals, Other Expenses
The association asks the government for "immediate guidance" on whether business meals continue to be deductible under the new tax law.
Does the Earnings Stripping Regulation Remove Too Much?
Questions will arise over whether an intercompany transaction will be treated by the IRS as debt or as stock.
Treasury Chief Lauds Dodd-Frank
U.S. Treasury Secretary Jacob Lew says Dodd-Frank Act helped the nation weather Brexit and other shocks to the system.
U.S. Unveils Anti-Money Laundering Package
The measures include requiring financial institutions to identify the beneficial owners of companies opening accounts with them.
U.S. Treasury Gets Record $97.8B From Fed
The surge in the Fed's remittances to Treasury reflects in part the interest earned from its bond-buying programs to stimulate the economy.
IRS Urged to Move Up W-2 Filing Deadline
Both the GAO and the Treasury Department have proposed forcing employers to file W-2 information earlier to help stem tax fraud.