Government Could Shut Down Again Thursday
With the current stopgap spending bill expiring in two days, Congress is scrambling to avoid another government shutdown. The House will vote today on another short-term continuing resolution that would fund the government until Thursday, March 22. Lawmakers continue to negotiate on a budget for the 2018 fiscal year, but disagreements exist regarding proposed increases in defense, non-defense, and infrastructure spending. Other budget disputes involve funding for Dreamers/Deferred Action for Childhood Arrivals (DACA), hurricane and wildfire emergencies, and community health centers. No agreements have been reached on such matters. Meanwhile, the White House wants anomalies (i.e., additional funding) included in. Read More.
IRS to Review Tax-Exempt Meals at Companies
Listed as an administrative priority for the Treasury Department’s fiscal year, the Internal Revenue Service (“IRS”) is evaluating its rules surrounding company tax exemptions for free meals. Currently, companies qualify for the exemption if, as stated by the IRS, their workers cannot “otherwise eat proper meals within a reasonable period of time” and provide food “for the convenience of the employer.” If the IRS begins taxing such meals, company-provided breakfasts and dinners could be affected the most. While the effort is in its initial stages, a spokeswoman for the Treasury Department noted that the goal is essentially to offer additional. Read More.