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Federal Tax Updates Archive

Build on Success and Improve Corporate Taxes

TweetShareSharePin0 Shares Tennessee made important strides in improving its tax structure when it completed phaseout of the Hall Tax—the state’s income tax, which was levied only on interest and dividends income. This change was many years in the works, making Tennessee the eighth state without an individual income tax. But while Tennessee now boasts no

Kansas Sales Tax Reform Testimony

TweetShareSharePin0 Shares Note: The following is Tax Foundation testimony on Kansas House Bills 2484 and 2487 (Neutral), submitted to the Kansas House Committee on Taxation on January 25, 2022. Chairman Smith and Members of the Committee: My name is Katherine Loughead, and I am a Senior Policy Analyst at the Tax Foundation. I appreciate the opportunity

The IRS Made Me File A Paper Return. Then Lost It

TweetShareSharePin0 Shares The IRS lost my 2020 tax return. Well, according to the notice I got yesterday, the IRS says it “never received” the return. But I’m sticking with “lost.” Let me explain: As TaxVox readers may remember, I—and at least 3.4 million other tax filers—got caught in an IRS security trap last year. In

Dinners: A Great Fundraiser to Bring Awareness to Your Community

TweetShareSharePin0 SharesDinners: A Great Fundraiser to Bring Awareness to Your Community Are you a church leader or are you a member of a church group that is actively looking for ways to improve your congregation, your community, as well as the world in general? If you are, you may be looking to raise money. Whether

Ethics, Best Practices and SEO – A Crisis in the Profession?

TweetShareSharePin0 SharesEthics, Best Practices and SEO – A Crisis in the Profession? There has been much debate recently on the practice of ethical Search Engine Optimization (SEO). The recent removal of a high profile SEO company from the Google results has plunged the industry into yet another debate on what is ethical and what is

2022 VAT Rates in Europe

TweetShareSharePin0 Shares More than 170 countries worldwide—including all European countries—levy a Value-Added Tax (VAT) on goods and services. As today’s tax map shows, although harmonized to some extent by the European Union (EU), EU member states’ VAT rates vary across countries. The VAT is a consumption tax assessed on the value added in each production

A Collection of Unrelated Thoughts – Volume One

TweetShareSharePin0 SharesA Collection of Unrelated Thoughts – Volume One Have you ever heard of an FBI agent who wasn’t “special”? Or an attorney who wasn’t “at law”? Have you ever met an optometrist who didn’t wear glasses? Do you think maybe the fact that most of them wear glasses has anything to do with advertising?

Mississippi Income Tax Repeal: Additional Work Is Necessary

TweetShareSharePin0 Shares Mississippi, like most states, realized a significant budget surplus in 2021 and projects continued revenue growth over the coming years. As lawmakers in Jackson determine how to best invest these funds, they must also reconcile the state’s position in an increasingly competitive tax environment. Over the last two years, Mississippians watched as the

Fiscal Policy Inflation Tax Policy Options

TweetShareSharePin0 Shares Consumer prices rose by 7 percent in 2021, the highest annual rate of inflation since 1982. Where did this inflation come from and what might its impacts be? Tax and fiscal policy offer important clues. Initially thought to be “transitory” and largely the result of pandemic-related supply-chain issues, many economists at the Federal
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