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Federal Tax Updates Archive

Stepping Off The Edge Of (But Still On) The Fiscal Cliff

TweetShareSharePin0 Shares Senate reaches a temporary debt limit deal. Senate Democrats appear to have accepted a proposal from Minority Leader Mitch McConnell that would allow the federal government to continue borrowing money into December. As usual, details still need to get resolved. But Republicans will no longer block a Democrats-only vote—for now. The agreement sets

Recent Changes in Top Personal Income Tax Rates in Europe, 2021

TweetShareSharePin0 Shares In 2019, revenue from personal income taxes made up 24 percent of total tax revenue across OECD countries. Countries tax labor income in various ways through payroll taxes, personal income taxes, and, in some cases, surtaxes. Between 2018 and 2021, eight European countries in the OECD changed their top personal income tax rates. Of these eight countries, four

Honda Natural Gas Cars Issued Massive Tax Credits By IRS

TweetShareSharePin0 SharesHonda Natural Gas Cars Issued Massive Tax Credits By IRS Between global warming and massive increases in fuel prices, many people are reconsidering their transportation. Honda has two natural gas cars the IRS absolutely loves. Honda Natural Gas Cars Issued Massive Tax Credits By IRS In 2005, the federal government passed a new energy

Build Back Better Revenue Items

TweetShareSharePin0 Shares Note: The following is the testimony of Dr. William McBride, Tax Foundation Vice President of Federal Tax and Economic Policy, prepared for a Joint Economic Committee hearing on October 6, 2021, titled, “Building Back Better: Raising Revenue to Invest in Shared Prosperity.” Chairman Beyer, Ranking Member Lee, and members of the Joint Economic Committee, thank

Checking The Status of Your Tax Refund Online

TweetShareSharePin0 SharesChecking The Status of Your Tax Refund Online More than a few people are happy to learn they are due a tax refund after filling out their tax returns. If you are one of these people, here is how to check the status of your refund online. Checking The Status of Your Tax Refund

Reconciliation Bargaining May Be Getting Serious, Recession Risk Rising…

TweetShareSharePin0 Shares Democrats may be narrowing their disagreements over budget reconciliation. President Biden pitched a social spending bill that could cost between $1.9 trillion and $2.2 trillion to a group of congressional progressives. That would be significantly lower than the $3.5 trillion version Biden first backed but more than the $1.5 trillion floated by moderate

How To Make Retirement Saving Easier For Millions Of Americans

TweetShareSharePin0 Shares Last month, a weekend of basement cleaning uncovered decades-old records of my first tax-advantaged individual retirement account (IRA) and three employer-sponsored retirement accounts I opened in my early twenties. My dad helped me open that first IRA with earnings from my high school job as a babysitter. He made saving easy for 16-year-old

Coal Helps America Through Power and Jobs

TweetShareSharePin0 SharesCoal Helps America Through Power and Jobs You may not realize it, but the coal industry plays a large part in the U.S. economy. One major way coal affects the economy is through electricity. The majority of America’s electricity comes from coal. So when coal prices are low, like they are right now, electricity

The Weekly (Tax)Buzz – October 6, 2021

TweetShareSharePin0 Shares The Weekly (Tax)Buzz – September 29, 2021 If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from

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