I cover U.S. tax policy for the @WSJ. There is ALWAYS a tax angle. Retweets are not endorsements or tax advice.
We've reached the "introduce letters from the grandchildren of prominent FDR administration officials into the official record" portion of this Social Security hearing.
New Treasury statement on SocSec payroll tax deferral, which I think I read as saying that they're not slowing how much money goes into the SocSec trust funds, even though payroll tax collections will actually drop.
The only large employer I know that's doing the payroll tax deferral is the US government, and clearly the Treasury Department could get quite reliable information on the amount of deferred payroll taxes for federal workers.
Props for persistence to the PR rep who is now on message 28 of a completely one-sided thread dating back to April 2019 of writing "Just checking in to see what stories you are working on" every few weeks.
IRS audit rate for households with incomes over $10 million. Fiscal 2015: 34.69% 2016: 18.79% 2017: 14.52% 2018: 6.66%
Medical expense deduction, gone. Student loan interest deduction, gone. via @WSJ
One thing that stood out to me in the Trump disclosure: He's making money from entities formed since the inauguration. via
Under Senate plan, 8.5% pay more in tax right away. By 2027, it's 50%. via @WSJ