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An update on the tax policy landscape against inflation backdrop

An update on the tax policy landscape against inflation backdrop

The tax policy landscape in Washington remains unsettled as we approach the summer months, while inflation remains the dominant economic issue. Within the context, we look at what's currently on the legislative agenda for Congress.
Chart of the day: U.S. housing starts fall amid rising mortgage rates

Chart of the day: U.S. housing starts fall amid rising mortgage rates

Housing starts fell by 0.2% on the month to 1.724 million annualized, according to the U.S. Census Bureau.
Supreme Court sweeps away rule in tax collection due process practice

Supreme Court sweeps away rule in tax collection due process practice

Internal Revenue Code section 6330(d)(1)’s 30-day time limit to file a petition for review of a collection due process case is not a jurisdictional deadline and is subject to equitable tolling.
The price of war: Risks around the inflation outlook

The price of war: Risks around the inflation outlook

While we expect the annual inflation rate to peak this quarter as the comparisons to the lower levels of a year ago wear off, the risk of rising prices will remain.
3 things to know before raising your prices

3 things to know before raising your prices

With rising prices proving to be stickier than expected, business leaders have been facing a challenge: how to set prices in a highly inflationary environment.
RSM US Supply Chain Index: Bracing for more disruptions

RSM US Supply Chain Index: Bracing for more disruptions

Widespread lockdowns in China and prolonged geopolitical conflict in Ukraine will most likely assure another round of supply chain snarls ahead.
Chart of the day: Manufacturing grew at a slower rate in April

Chart of the day: Manufacturing grew at a slower rate in April

Manufacturing grew at a slower rate in back-to-back months as labor shortages continued to hamper production while demand moderated from January's high.
FOMC preview: Rate hikes and balance sheet reduction are up next

FOMC preview: Rate hikes and balance sheet reduction are up next

Next week’s Federal Open Market Committee meeting will kick off an extraordinary two months of policy decisions by the Federal Reserve in which we expect the…
Interest rate update: Confidence in the Fed, but uncertainty over long-term growth

Interest rate update: Confidence in the Fed, but uncertainty over long-term growth

The Federal Reserve has started to normalize interest rates, lifting the short-term transaction cost off the zero bound. The result has been a 100-basis point…
Chart of the day: U.S. home prices hit record in March

Chart of the day: U.S. home prices hit record in March

Sales of existing homes fell by 2.7% to 5.77 million in March, the lowest since July 2020, as rising mortgage rates dampened demand.
Nebraska enacts corporate and personal income tax rate cuts

Nebraska enacts corporate and personal income tax rate cuts

Following up on corporate cuts made in 2021, Nebraska phases-in several years of both corporate and personal income tax rate reductions.
The tax and trade implications of new legislation targeting Russia

The tax and trade implications of new legislation targeting Russia

A new law suspends Russia’s preferential trade status, and a separate proposal would deny foreign tax credits and certain deductions for U.S. companies earning income in Russia.
Retail sales slow in March as inflation takes a toll

Retail sales slow in March as inflation takes a toll

March's retail sales added substantial downside risks to our forecast for economic growth that will most likely dip below 1% in the first quarter.
Accounting for obligations to safeguard crypto-assets

Accounting for obligations to safeguard crypto-assets

SAB 121 includes guidance for entities that have obligations to safeguard crypto-assets held for their platform users.
Inflation marches higher, hitting 8.5% compared to a year ago

Inflation marches higher, hitting 8.5% compared to a year ago

Long ago and far away, it was once taught that inflation has long and variable lags. That still probably applies when setting policy, managing a portfolio or…
FOMC minutes: Fed prepares to shift its policy normalization into a higher gear

FOMC minutes: Fed prepares to shift its policy normalization into a higher gear

The Federal Reserve is preparing to launch the next phase of its policy normalization by drawing down its balance sheet as soon as May.