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Federal budget


'Tis the Season for a Budget Accord

Will members of Congress be toasting each other with eggnog this year? As the holidays draw near, members of the House and Senate are reportedly wrapping up the first successful budget deal in two years.

IRS Issues Furlough Notices to More than 89,000 Employees

The IRS has identified five furlough days where the agency will shut down completely, leaving taxpayers without access to information and assistance from frontline workers.

Tax Freedom Day Finally Arrives for 2013

Tax Freedom Day® arrives today, the 108th day of 2013, according to the Tax Foundation's annual calculation. Americans will work well over three months of the year before they have earned enough money to pay this year's tax obligations.

IRS Plans to Cut Back on Big Company Audits This Year

The IRS plans to spend 18 percent less time auditing businesses with assets of $10 million or more in its current fiscal year compared to two years ago, according to a report from Syracuse University's Transactional Records Access Clearinghouse (TRAC).

President Obama's Budget Proposal: What's Ahead for the Estate Tax?

In a tough economy, it's not likely that any fiscal changes will be met with cheers, and the $3.78 trillion budget proposed by President Obama on April 10 was no exception. His plan seeks to trim the deficit by $1.8 trillion over the next decade, leaning heavily on high-income earners to fill the gaps.

NTEU Says Cutting IRS Budget Hurts Taxpayers

The National Treasury Employees Union (NTEU), the union that represents the IRS workforce, said IRS budget cutting is hurting taxpayers, in particular, senior citizens, small business owners, and the victims of identity theft.

Obama's New Budget Proposal: $3 Million Cap on IRAs

The new budget plan that President Obama will unveil on April 10 includes an unprecedented tax whammy for retirement savers: A new $3 million cap on IRA assets and other tax-preferred retirement accounts.

Gone Fishing: IRS Closing Offices for Holidays

Now the sequester is getting really serious! The IRS may shut down its offices completely for a few days surrounding several upcoming holidays in order to accommodate the federal government's budgetary needs.

Federal Budget Talks Focus On – What Else? – Taxes

At the very least, key members of the House and Senate are talking to each other about the federal budget. But talk – unlike the mounting debt of the country – is cheap.
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