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Senate Democrats are attempting to repeal an IRS regulation that is designed to keep people from exceeding the $10,000 limit on state and local tax deductions. Democrats will force a vote, scheduled for Wednesday, to overturn the regulation through the Congressional Review Act, Senate Minority Leader Chuck Schumer told The Associated Press on Tuesday.

Taxpayers are scrambling to get their taxes done, and sadly watching too much of their hard-earned cash being sucked by the behemoth that is the federal government. While trying to make ends meet for their families and searching around for every last deduction, many taxpayers may be shocked to find two things: That Planned Parenthood, the nation's largest abortion vendor, is still getting more than $500 million of government funds every year, even though they have been referred for criminal activity by committees in both the U.S. House and Senate; and, that abortion is tax-deductible. Taking the abortion tax deduction...

If politics is the art of successful compromise--defined as outcomes that make all parties equally unhappy--then the recent budget extension bill offers something for everyone. It extended the tax credits for electric-car charging stations and natural-gas-vehicle refueling stations, which should make owners of those vehicles happy. But it did not extend the generous tax credits for purchase or lease of hydrogen fuel-cell vehicles, disappointing advocates of that zero-emission vehicle technology. Those advocates include Toyota, Hyundai, and Honda. Now, it turns out, the often-reviled "gas guzzler tax deduction" was restored to its previous level by the budget bill as well. As...

WASHINGTON (BP) -- Charities could face dwindling donations if Congress adopts a new tax reform proposal introduced by Rep. Dave Camp, R-Mich., chairman of the House Ways and Means Committee. Camp's long-awaited plan to overhaul the tax code, introduced last month, has received some positive reviews, but charitable organizations say it could cost them billions in donations. "I know Chairman Camp wants charitable giving to go up, [but] his discussion draft does not [promote] that," said David Wills, president of the National Christian Foundation (NCF). "It hurts charitable giving significantly." NCF is part of the Faith and Giving Coalition, which...

What's a more valuable tax deduction, a deadbeat boyfriend or a vicious guard dog? It depends on how big a deadbeat the boyfriend is. No, this isn't a bad joke. It's among the things taxpayers ask each year as they try to squeeze out whatever deductions they can. And tax experts say they've heard it all. Among the zaniest: How do I value a taxidermy I donated to charity? (It can involve estimating stuffing and mounting costs.) I'm putting a swimming pool in this year, I'm going to use it for exercise, can I deduct it as a medical expense?...

Psst: Want to know a way to reduce our national debt by a quarter of a trillion dollars over the next decade, and remove an often abused and possibly unconstitutional section of the tax code? Are you sure you do? You may want to sit down. Get rid of the federal charitable-giving tax deduction. I know that statement will create a firestorm. I ran the California Community Foundation for 25 years, and the foundation — not to mention your alma mater, the Girl Scouts, the AARP and many other charities — think pretty highly of the tax deduction. It's a...

Tax Deductions for Pet-Care Expenses Proposed Pet-care expenses would be tax deductible under a new measure introduced by U.S. Rep. Thaddeus McCotter (R-Mich.). House Resolution 3501, commonly referred to as the Humanity and Pets Partnered Through the Years, or HAPPY Act, would amend the Internal Revenue Code to allow an individual to deduct up to $3,500 for qualified pet care expenses. Qualified pet care expenses is defined as amounts paid in connection with providing care (including veterinary care) for a qualified pet other than any expense in connection with the acquisition of the qualified pet.

The Chronicle of Philanthropy News Updates March 06, 2009 Estimated Impact of Obama's Charitable-Deduction Proposals Detailed Indiana University’s Center on Philanthropy has posted a paper explaining how it calculated how much giving would fall under proposals by President Obama to limit charitable deductions and raise the upper tax brackets. The center announced last week that charitable donations would have dropped almost $3.9-billion in 2006 if the two measures had been in effect that year. President Obama has proposed capping the tax break for itemized deductions on federal taxes, including donations to charity, at 28 percent as a way to raise...

The cluster of special federal tax benefits and subsidies for homeowners has long seemed politically untouchable. Those include deductions for mortgage interest, local property taxes and capital gains exclusions on up to $500,000 in sale profits. Is the Obama administration serious about beginning to limit at least some of these subsidies?

For Immediate ReleaseOffice of the Press SecretaryFebruary 24, 2007 President's Radio Address   President's Radio Address  Audio  En Español       In Focus: Health Care THE PRESIDENT: Good morning. This week, I traveled to a hospital in Chattanooga, Tennessee, where I visited with doctors and health care experts. We discussed an urgent priority for our Nation, how we can make health care coverage more affordable and accessible for all Americans. This week, the Department of Health and Human Services released a study that showed why we must act now to reform our health care system. The study forecast that our Nation's health...

For Immediate ReleaseOffice of the Press SecretaryFebruary 17, 2007 President's Radio Address       Audio      In Focus: Health Care      THE PRESIDENT: Good morning. Today I would like to talk to you about an urgent priority for our Nation: confronting the rising costs of health care. In my State of the Union Address, I invited Democrats and Republicans in Congress to work with my Administration to reform our health care system. In the past few weeks, I've discussed my health care proposals with citizens across our country. Next week, I'll visit a hospital in Tennessee to hear directly from people who...

LOS ANGELES - Maybe George Clooney feels that taking home an Oscar was enough. The winner of the Academy Award for best supporting actor for his role in "Syriana" has donated his decadent Oscar gift bag to the United Way, a spokeswoman for the organization said Wednesday. The loot will be sold in an online auction to benefit the United Way Hurricane Response and Relief Recovery Fund, said spokeswoman Sheila Consaul. Clooney is a member of the charity's board of trustees, she said. "This refocuses people back to the long-term nature of hurricane recovery efforts," she said. The gift bag...

A bank robber has been allowed to claim the £1,400 cost of the gun he used as a legitimate business expense. The 46-year-old criminal was able to set the price of the pistol against his gross proceeds of £4,700, which he stole in the southern Dutch town of Chaam. Jailing him for four years, the judge at Breda criminal court reduced his fine by that amount. The Dutch prosecutors' service said yesterday that the judge had followed sound legal precedents. Leendert De Lange, a spokesman, said: "You can compare criminal acts to normal business activities, where you must invest to...

(AP) — Obese Americans who take drastic, expensive action to lose weight under a doctor's orders will at least be able to lighten their tax load. The Internal Revenue Service allows taxpayers who are forced to spend thousands of dollars because of obesity to deduct expenses for stomach-stapling surgery, approved weight-loss drugs and nutritional counseling. "At least one arm of the government recognizes the need to reward people for getting in shape," said Linda Webb Carilli, a spokeswoman for Weight Watchers International Inc. To claim the deduction, a person must itemize. Deductions are allowed for uncompensated expenses for the treatment...