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federal taxes Archive

IRS In “Crisis,” Taxing The CTC… And The Unvaccinated

TweetShareSharePin0 Shares National Taxpayer Advocate: 2021 was the “most challenging year ever” for taxpayers. National Taxpayer Advocate Erin Collins’s  2021 Annual Report to Congress said the agency is “in crisis.” The most serious problems: “taxpayer service and IT challenges, including processing and refund delays, inadequate taxpayer service, limited functionality of online taxpayer accounts, and the

The Tax Justice Network’s French podcast: Les grands moments de la justice fiscale dans le monde en 2021

TweetShareSharePin0 Shares Welcome to our monthly podcast in French, Impôts et Justice Sociale with Idriss Linge of the Tax Justice Network. All our podcasts are unique productions in five different languages every month in English, Spanish, Arabic, French, Portuguese. They’re all available here and on most podcast apps. Here’s our latest episode: Pour cette 36ème édition de votre podcast en Français du réseau Tax Justice Network,

State Net Operating Loss Provisions

TweetShareSharePin0 Shares Key Findings Well-designed Net Operating Loss (NOL) provisions benefit the economy by smoothing business income, which mitigates entrepreneurial risk and helps firms survive economic downturns. Forgoing tax revenue in the short term affords businesses the opportunity to prioritize human and physical capital investment. Start-ups and industries with profits highly correlated to the business

Haledon, New Jersey: A Renaissance In The Making?

TweetShareSharePin0 SharesHaledon, New Jersey: A Renaissance In The Making? Not every small town in America can live up to a realtor’s dream of providing top notch schools, new housing, well kept streets, and abundant recreational opportunities. Where Haledon, New Jersey currently lacks in refinement, it offsets some of this with its sense of history as

More COVID Funding and More Untaxed Income

TweetShareSharePin0 Shares More pandemic aid? House Majority Leader Steny Hoyer told reporters the Biden administration plans to ask for “substantial” federal funding for testing, vaccines, and schools to address the continuing pandemic. House Appropriations Chair Rosa DeLauro said “We’ll take a look at that and see how that fits with an omnibus” fiscal 2022 spending

More COVID Funding and More Untaxed Income

TweetShareSharePin0 Shares More pandemic aid? House Majority Leader Steny Hoyer told reporters the Biden administration plans to ask for “substantial” federal funding for testing, vaccines, and schools to address the continuing pandemic. House Appropriations Chair Rosa DeLauro said “We’ll take a look at that and see how that fits with an omnibus” fiscal 2022 spending

More COVID Funding and More Untaxed Income

TweetShareSharePin0 Shares More pandemic aid? House Majority Leader Steny Hoyer told reporters the Biden administration plans to ask for “substantial” federal funding for testing, vaccines, and schools to address the continuing pandemic. House Appropriations Chair Rosa DeLauro said “We’ll take a look at that and see how that fits with an omnibus” fiscal 2022 spending

What If Congress Made The Child Tax Credit Taxable?

TweetShareSharePin0 Shares As my colleague Elaine Maag noted the other day, Democrats are squabbling again (or is it still) over how to structure the Child Tax Credit. Some want to be sure that very low-income households get the full credit. Others want to reduce or even eliminate benefits for higher-income households.   Many solutions to

Tax Rules & Benefits For The Self-Employed

TweetShareSharePin0 SharesTax Rules & Benefits For The Self-Employed Who hasn’t dreamed of quitting their day job, starting their own company, and living happily ever after? Abrasive bosses and questionable decisions can make a normal nine to five job grow stale pretty fast. Today, more people than ever are enjoying the freedom that comes with starting

Understanding How the United States Fails to Tax So Much Business Income

TweetShareSharePin0 Shares Over the past three decades, the United States has gone from taxing roughly half of closely held business (that is, firms other than corporations) and investment income to taxing less than a third, our new analysis has found.    Rather than using published IRS Statistics of Income (SOI) reports on aggregate incomes shown
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