Tax & Accounting News

The Weekly (Tax)Buzz - August 25, 2021

The Weekly (Tax)Buzz - August 25, 2021

If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from our favorite bloggers, US tax proposals, tax crime stories, and much more.

The (Tax)Buzz this week: Income tax rates since 1862, the tax credit offering working families a big write-off, the latest on a crypto tax provision, and more.

Tax Foundation: Curious about what the federal income tax rates and brackets have been over time? This chart maps out the data from 1862 - 2021.

CNBC: Not to be confused with the child tax credit, the child and dependent care tax credit was also boosted by Congress this year and could offer working families a big write-off.

Forbes: The COVID-19 pandemic led to “an extraordinary increase in the number of American households that owed no federal individual income tax in 2020.”

The Wall Street Journal: The expansion of the US economy slowed in August, according to this survey.

Yahoo! Finance: Here’s the latest on the original crypto tax provision from the bipartisan infrastructure bill.

USA Today: The expanded child tax credit is reaching farther than ever, getting to 1.6 million more kids in the month of August.

Bloomberg: Here’s a breakdown of what a global minimum tax rate would look like.

CNBC: 401(k) and savings balances are higher than ever, even after the difficult times brought on by the pandemic.

Bonus content: 

  • (NEW) Registration has begun for the next ClientWhys 16-Hour Virtual Tax Update & Review Conference! Choose your own dates between November 2021 and January 2022 for the 8 breakdown sessions. The agenda will include everything you need to know for the 2021 tax season. Our special early registration price of $229 (regular $249) ends August 31st, so don’t delay! Register here.
  • The Big Book of Taxes 365, our 1250+ page online tax research library, has been updated with all the latest information on the American Rescue Plan. Annual access costs only $95! Purchase yours here.
  • 19 Free White Paper Downloads – With the constant changes in legislation and rules governing our industry, it can be hard to keep up. That’s why the tax experts at TaxCPE / ClientWhys put together 19 free white papers on the most important tax issues during COVID-19.

Don’t miss our latest TaxBuzz posts: 

  • Senate Considers Repeal of the SALT Deduction Cap
  • A Math Error May Be Behind Your Tax Refund Delay
  • TaxBuzz Chat: Tax Workflows, Favorite Processes, & Client Experience

Did we miss a great article this week? Let us know in the comments below!

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Lauren Detweiler

Lauren Detweiler

I am equal parts marketer, traveler, and writer, and I've been doing all three for as long as I can remember. I have spent most of my time since graduating university traveling and working remotely in Africa and Europe. My passion lies in conveying the right messaging to the right people, and being a part of the CountingWorks and TaxBuzz team means I get to do that not only for our company, but for clients across the country as well.

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