Nonetheless, the structure that allows the Federal government to exclude the balance sheets of these two institutions from the Federal account prevents a total of $5 trillion from being regarded as US national debt. The Committee for a Responsible Federal Budget is a nonpartisan, non-profit organiz...
too, reflect its waning effect on day-to-day life. As of May 11, the federal government is no longer categorizing COVID-19 as a national public health emergency, and that means some of the policies and provisions adopted during the height...
The early 1980s recession, often associated with the policies of U.S. Federal Reserve Chairman Paul Volcker, was marked as the severe economic downturn. To combat high inflation, Volcker pursued a tight monetary policy, raising interest rates significantly. The prime interest rate peaked at around...
The IRS provides Form 1040-ES for you to calculate and pay estimated taxes for the current year. While the 1040 relates to the previous year, the estimated tax form calculates taxes for the current year. You use Form 1040-ES to pay income tax, self-emplo
He would like the House to pass individual spending bills for the full fiscal year, but he told Hannity Republicans are working to make sure that if a stopgap bill to keep the government open past Nov. 17 is required, "we do it with certain conditions." He did not say what those condi...
What is the difference between an endowment and a land grant? Every state in the union has a land grant university. Several have more than one. When the US began its westward expansion, the federal government had access to a lot of land and not a lot of money. One idea at the time ...
The budget is an important process that happens each year. There are multiple ways to start the process of preparing the budget, from the board or finance committee preparing it to the management company taking a first crack at it. “You go off of last year’s budget and what you’re an...
Government contractors: What should you do as the end of the federal fiscal year approaches? (with related video).Government contractors: What should you do as the end of the federal fiscal year approaches? (with related video).The article presents tips for government contractors to maximize thei...
For example, the U.S. government's fiscal year starts on Oct. 1 and ends on Sept. 30. It is structured this way so that the government can collect taxes, accept funding requests from its agencies, create a budget proposal, and route the proposed budget through the appropriate channels to...
Federal tax filings are based on a company's fiscal year. The IRS defines a fiscal year as 12 consecutive months, ending on the last day of any month (except December). According to the IRS definition, a fiscal year must end on the same day of the week each year, whichever is the c...