Monthly Archives: May 2013
When a U.S. District Court judge set-aside IRS regulations of commercial tax preparers in January, he said the agency lacks the statutory authority to impose such rules.
Many policy experts and organizations respectfully disagree, including NCTC. We long have believed the IRS has the proper legal standing – not to mention the fundamental responsibility – to develop and enforce rules to protect taxpayers from fraud or incompetence at the hands of paid tax preparers. And we continue to maintain that.
Nonetheless, the process of appealing the district-court decision could take a great deal of time, and its outcome is uncertain. So, we welcome such proposals as the “Taxpayer Protection and Preparer Fraud Prevention Act” (H.R.1570), filed last month by U.S. Rep. Cedric Richmond of Louisiana. Read the rest of this entry
The following is a cross-post from Tax Credits for Working Families’ blog.
What does it really take for a family to “get by”? Gallup has been asking Americans that question for nearly 80 years. Their most recent survey shows that Americans believe that a family of four needs nearly $60,000 a year to make ends meet in their community. Almost forty percent of respondents picked an income between $50,000 and $75,000; another 22 percent picked between $30,000 and $50,000 while 18 percent picked over $75,000 and 13 percent had no idea. Only 7 percent thought a family could get by with less than $30,000 in income. (By comparison, the official federal poverty level for a family of four is considerably lower—under $24,000.) Read the rest of this entry
Last week, NCTC organized a Day of Action so that some of our Financial Aid U (FAU) and College Assistance Program (CAP) members could meet with their elected officials in order to advocate for higher education and financial aid policies that increase postsecondary access and affordability. These two initiatives both entail assisting students and their families with filling-out the Free Application for Federal Student Aid (FAFSA), which is the first step in accessing financial aid, without which the dream of attending college would be beyond the reach of too many families. Read the rest of this entry
It’s good to see the value of VITA reemerging in key federal policy communications recently – the product of strong efforts by advocates and Congressional champions alike.
For example, as lawmakers begin to focus on budget decisions, nearly 50 of them have personally endorsed the need to ensure strong resources for Volunteer Income Tax Assistance in Fiscal Year 2014. Read the rest of this entry
Tax credits that help working families make ends meet should be treated as no less important than tax benefits exclusive to the very wealthiest of households. In fact, they’re even more critical to the overall stability of our nation’s economy.
Thus, NCTC has obtained the signatures of more than 300 local, state, and national organizations for a letter supporting new legislation to protect and strengthen the Child Tax Credit (CTC) and (EITC). Read the rest of this entry