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Latest from us on the Senate's tax bill -- troubles left and right. wsj.com/politics/polic…

Also, noting in there: --A fishing-vessel meals deduction thing that mirrors a Murkowski bill. --A Lankford-favored provision on oil-and-gas companies and CAMT. --Boost in child/dependent care credit like a Britt proposal.

Congress is getting SALTy when it comes to the very different House and Senate #tax reconciliation bills. Details on that and more in today's Joe Kristan Eide Bailly roundup.

The feds allege that USPS mail processing clerks in Philadelphia stole thousands of envelopes containing U.S. Treasury checks from mail sorting machines. The plan? Sell the checks for cash. forbes.com/sites/kellyphi…

New The Wall Street Journal story on the CBO dynamic analysis of the House megabill, showing that it increases deficits more than the conventional analysis: wsj.com/politics/polic…

This is wild: When the CBO factors in the economic effects of the "Big Beautiful Bill," the deficit actually gets *$400 billion bigger* than it was in the conventional analysis -- which does not account for economic effects.

A CFO is not a bookkeeper. A fractional CFO is also not a bookkeeper. When a CFO gets the books, the books should already be correct (some decisions may change). Same with your tax preparer, tbh. Your tax preparer is also not your bookkeeper.

Your #DailyDeduction from the Tax Policy Center | Senate Rewrites And CBO Dynamic Scoring taxpolicycenter.org/senate-rewrite…

This guy: 1. Translated for U.S. army in Afghanistan 2. Got stuck after Biden's disastrous withdrawal 3. Fled, made it to the U.S. border 4. Came in via CBP One App 5. Attended his asylum hearings 6. Gets snatched by ICE 7. Faces deportation back to Taliban What are we doing?

The problem, as usual: people are innumerate cato.org/commentary/ame…

Correct. The message is not “CBO was wrong.” CBO is not perfect. But most of what occurred to create today’s deficits was a combo of “stuff happens” and “Congress Congressed.”

The WSJ story/chart is fantastic - link below, read it! Made a similar chart a few weeks ago on the revenue side only. Also a mix of "stuff happens" (recessions) and "Congress Congressed" (deficit-financed tax cuts). wsj.com/politics/polic…

Most Republicans misunderstand dynamic scoring. We don’t do dynamic scoring to justify not paying for tax cuts. We use dynamic scoring to understand which tax policies are pro-growth and which harm the economy. W&M did not do this when designing the OBBBA so we should not be

Jessica Riedl 🧀 🇺🇦 60ish percent of households would see a tax increase upon expiration. But no, it’s not a 68% tax increase.

All is well.

It’s just me, right, who’s glazing over with all the big bill tax tweaks? Thank goodness Joe Kristan is on the ball with details in the latest Eide Bailly #tax roundup.

Investor faces 3 years in prison & $15.3M fine after pleading guilty to evading capital gains taxes by fraudulently claiming he was a tax-exempt resident of Puerto Rico. This if the first plea in a case targeting taxpayers abusing PR incentive statutes .news.bloombergtax.com/daily-tax-repo…