“Pied-à-terre” tax; warning shot; Section 122 tariffs; and other highlights from our favorite tax bloggers.
Day: May 12, 2026
$35B in tariff refunds cleared for importers so far
The payments are being processed through a new online government portal and will include interest on duties paid across more than 8 million import entries.
Mamdani scraps property tax hike, counts second-home revenue
New York City Mayor Zohran Mamdani has ditched his plan to raise New Yorkers’ property taxes, an unpopular measure he threatened to use to help close a deficit.
US sees smaller April budget surplus on lower tax receipts
Individual and corporate tax receipts dropped in the wake of President Donald Trump’s signature tax cut legislation.
GOP leaders mull gas tax suspension as momentum grows
Speaker Mike Johnson called suspending the federal gas tax “an intriguing idea” but didn’t commit to a timeline as momentum builds in both chambers to take action.