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Federal Tax Updates Archive

US Tax Burden on Labor

TweetShareSharePin0 Shares The Biden administration has put forward significant plans for changing tax policy, including tax changes that would impact workers. While the administration is trying to narrowly target tax hikes to individuals who earn more than $400,000 and provide tax relief to families, it is helpful to understand what the tax burden looks like for workers

A Senate Retirement Bill? Religious Education.

TweetShareSharePin0 Shares Senate Finance will mark up a retirement savings bill today. Chair Ron Wyden released a chairman’s mark yesterday and the committee will consider the measure today. The bill, called the Enhancing American Retirement Now (Earn) Act, includes multiple changes to the tax treatment of retirement savings and withdrawals. The House passed a similar

A Federal Gas Tax Holiday Is A Terrible Idea

TweetShareSharePin0 Shares President Biden is proposing a three-month federal gasoline tax holiday. He may want to appear to be doing something to address high inflation, which is both an economic concern and a growing political problem for his Administration. But suspending the gas tax is a terrible idea that, on the margin, will make inflation

The Weekly (Tax)Buzz – June 22nd, 2022

TweetShareSharePin0 Shares The Weekly (Tax)Buzz – June 22nd, 2022 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

Carbon Taxes: Green Tax & Climate Change Tax Reforms

TweetShareSharePin0 Shares Key Findings By driving changes to the climate, carbon emissions will impose major long-term economic costs, both here in the U.S. and around the world. Carbon taxes are an option to make the market reflect future costs of carbon emissions, discouraging emissions and incentivizing development and implementation of clean technology. Carbon taxes also

The Year of State Tax Cuts: The Sequel

TweetShareSharePin0 Shares Just as movie theaters are full of sequels (Top Gun, Jurassic Park, and Thor), state capitols are also replaying last year’s big hit: tax cuts. So far this year, 27 states and the District of Columbia have passed significant tax cuts. Last year’s total was 29 states and the District of Columbia. Like

A Federal Gas Tax Holiday?

TweetShareSharePin0 Shares Biden nears gas tax decision. President Joe Biden says a decision on a gas tax holiday could come this week. “I hope to have a decision based on the data I’m looking for by the end of the week,” he said. Over the weekend, Treasury Secretary Yellen said the Administration is  open the idea.

A Federal Gas Tax Holiday?

TweetShareSharePin0 Shares Biden nears gas tax decision. President Joe Biden says a decision on a gas tax holiday could come this week. “I hope to have a decision based on the data I’m looking for by the end of the week,” he said. Over the weekend, Treasury Secretary Yellen said the Administration is  open the idea.

State Estate Tax Rates & State Inheritance Tax Rates

TweetShareSharePin0 Shares In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional state estate tax or state inheritance tax. Twelve states and the District of Columbia impose estate taxes and six impose state inheritance taxes. Maryland is the only state to impose both a state estate tax rate and

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