Accounting
IRS reportedly nears deal to share info with ICE
The Internal Revenue Service is reportedly getting close to an agreement to share information such as taxpayers addresses with the Department of Homeland Security’s Immigration and Customers Enforcement unit upon request.
The information sharing would be more limited than originally proposed and reportedly led to the
Last Wednesday, a federal district court refused to issue a temporary restraining order that would have barred the IRS from sharing such data with the immigration officials under a
“The IRS must disclose the terms of its unprecedented information sharing agreement with ICE,” said Nandan Joshi, an attorney with Public Citizen Litigation Group and lead counsel in the case, in a statement. “Attempts by the Trump administration to gain access to the confidential taxpayer databases to engage in mass removal of workers would violate the tax law that protects the privacy of all taxpayers and undermine the protections promised to every taxpayer who files tax returns with the IRS. Attempting to gain access to personal and confidential taxpayer information crosses a line that Congress put into place after Richard Nixon used tax records to go after his enemies during Watergate. The administration’s desire to speed up their deportation agenda does not justify jettisoning decades of taxpayer protections. If this deal is being negotiated in good faith, the government should not need to keep it secret.”
However, in a separate case another federal judge blocked the Elon Musk-led U.S. DOGE Service on Monday from accessing people’s private data at the Treasury Department, the Education Department, and the Office of Personnel Management, according to the
President Donald Trump told Senate Republicans he is open to a state and local tax deduction cap lower than the $40,000 in the House-passed version of his
Trump signaled his position in a meeting with Senate Finance Committee Republicans on Wednesday, and the comments added momentum to Senate GOP efforts to enact a lower SALT cap.
That push has led to resistance from the House, with Speaker Mike Johnson
After the White House meeting Wednesday, Senate Finance Committee Chair Mike Crapo lamented about the cost of the House bill’s SALT cap.
“There’s not a single Republican senator from New York, New Jersey or California, so there’s not a strong sentiment in the Republican conference to do $350 billion for states that the other states subsidize,” Crapo told reporters.
Crapo’s top priority for the Senate tax bill is extending a bevy of temporary business tax breaks in the House bill that would expire after 2029, including enhanced interest expensing and deductions on research, development and equipment. Crapo is looking to trim other aspects of the House bill in order to offset the added cost of making those breaks permanent.
He said that a decision had not yet been made on whether to lower the SALT cap or to what level. Under current law, individuals and couples can deduct $10,000 in state and local taxes if they itemize on their tax returns.
Johnson said that the higher cap is crucial for the House to be able to pass the final version of the tax bill when it is sent back from the Senate later in the summer. He said he has made that clear to the Senate GOP.
“I told my friends I am crossing the Grand Canyon on a piece of dental floss,” he said.
The Washington Post first reported Trump’s openness to a smaller cap.
“The White House is working closely with leaders in Congress to ensure that this landmark legislation gets over the finish line,” said spokesperson Kush Desai.
Employment grew by 139,000 jobs in May, the U.S. Bureau of Labor Statistics reported Friday, while the unemployment rate remained unchanged at 4.2%.
Employment continued to grow in the health care, leisure and hospitality and social assistance sectors, but the federal government continued to lose jobs as the Trump administration kept up its efforts to slash the workforce. The professional and business services sector lost 18,000 jobs in May, but added 3,100 in accounting, tax preparation, bookkeeping and payroll services.
Average hourly earnings increased 15 cents, or 0.4%, to $36.24 in May. Over the past 12 months, average hourly earnings have increased 3.9%.
“Really only two sectors made up the bulk of all job growth — health care and social assistance (+78K) and leisure and hospitality (+48K),” said Andrew Flowers, chief economist at Appcast. “The ‘diffusion index’ (which measures the breadth of job growth) fell near the lowest point of this cycle. Beyond those sectors, there were signs that professional and business services job growth has weakened further, with the three-month moving average now negative. Moreover, the DOGE-led effort to trim government bureaucrats is having real effects, with a -22K job contraction in the federal workforce.”
As part of those cuts, the U.S. Bureau of Labor Statistics itself has been
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