President Obama

Tax

IRS Would Receive More Funding in Obama’s 2015 Budget

A proposed fiscal year 2015 budget released by President Obama yesterday would provide the IRS with $12 billion in base funding, up 6.3 percent over the 2014 enacted level. The budget would also allot $165 million to improve IRS customer service.
Tax

The Fed Shutdown Just Keeps Getting Weirder

Oh what odd images the shutdown hath wrought. Here are some snippets of the federal government shutdown you may not know about.
Education & Careers

House Passes Bill to Lower Federal Student Loan Rates

UDPATE: President Obama has signed the student loan rates bill into law. The bill that will lower interest rates on federal subsidized Stafford student loans was approved by the House of Representatives on July 31.
Tax

Obama Nominates John Koskinen as Next IRS Commissioner

President Obama on August 1 nominated John Koskinen as the next commissioner of the embattled IRS. The president tapped the retired Koskinen because of his ability to lead an organization out of a crisis.
Tax

Eliminating Tax Evasion Is Core Piece of G8 Ten-Point Plan

G8 leaders, who met in Northern Ireland, developed a ten-point plan, the Lough Erne Declaration, which calls for more information sharing between tax authorities and improved transparency to prevent tax avoidance.
Tax

Obama Names Daniel Werfel Acting IRS Commissioner

The current controller of the US Office of Management and Budget has been appointed by President Obama as the new acting commissioner of the IRS, effective May 22. Daniel Werfel will take over the position vacated by Steven Miller, who resigned on May 15.
Tax

Justice Department Investigating IRS' Targeting of Conservative Groups

Attorney General Eric Holder is scheduled to testify before the House Judiciary Committee, one day after he announced the Justice Department has opened a criminal investigation of the IRS for improperly scrutinizing the tax-exempt status of groups with conservative titles, such as "tea party" or "patriot," in their applications.
Tax

A Few Nuggets Found in Obama and Biden Tax Returns

Just before the April 15 due date, the White House released the 2012 federal income tax returns for President Obama and Vice President Biden. Both the POTUS and the Veep filed joint returns with their respective spouses. Overall, there were just a few mild surprises.
Tax

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.
Tax

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.
Tax

State of the Union: Table Is Set for Tax Reform

President Obama delivered a sweeping State of the Union address on a broad array of topics, ranging from the economy to immigration reform to gun control.
Tax

POTUS Gets Tax Policy Advice from Lindsay Lohan

President Barack Obama is surrounded by advisers, official and unofficial. Everyone has an opinion. But it's doubtful he expected to be getting tax policy advice from "Mean Girl" actress, twenty-three-year-old Lindsay Lohan.
Election 2012

Obama and Romney Slug It Out Over Taxes

Democratic incumbent President Barack Obama and Republican challenger Mitt Romney have sparred over taxes. Now that the gloves are finally off, both nominees have come out swinging full force.
Election 2012

Romney Touts Himself Small Business 'Champ'

Republican nominee Mitt Romney delivered the acceptance speech expected of him at last week's Republican National Convention, repeatedly hammering President Obama on what many consider to be his weakest flank: jobs and economic growth.