federal taxes Archive
The Child Tax Credit Could Be A Lifeline For Puerto Rican Families—But Only If They File
October 27, 2021
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TweetShareSharePin0 Shares Among other changes to the child tax credit (CTC), the American Rescue Plan (ARP) made the CTC available to far more families in Puerto Rico. However, because so few parents on the island pay federal income tax, or even typically file a Form 1040, policymakers and community organizations will have to work hard
How To Audit-Proof Your Tax Return Forever: A Recent Close Encounter Of The IRS-Kind
October 27, 2021
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TweetShareSharePin0 SharesHow To Audit-Proof Your Tax Return Forever: A Recent Close Encounter Of The IRS-Kind Congress has passed legislation that is supposed to result in a more “sensitive” Internal Revenue Service. You know, not such a lean, mean, tax-collecting machine. Hmmm . . . . What do you think? A few months ago, one of
2021 Election Results | 2021 Ballot Measures
October 27, 2021
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TweetShareSharePin0 Shares Election Day will be a modest affair in 2021, perhaps a welcome respite from the inflamed politics of recent years. Despite few statewide races, however, voters in some states will decide important questions by ballot measure. Of particular note, through 10 ballot measures across four states—Colorado, Louisiana, Texas, and Washington—voters will decide significant
Ways and Means GILTI Reform Proposal Closely Tracks OECD/G-20 Pillar 2
October 27, 2021
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TweetShareSharePin0 Shares Recent proposals to reform the tax treatment of US multinationals would increase US revenues substantially, according to an analysis by the Tax Policy Center. The global intangible low-tax income (GILTI) reform proposed by the House Ways and Means Committee and the OECD/G-20 “Pillar 2” global minimum tax are quite similar, but the committee
Reconciliation Bill Tax Innovation Effects
October 27, 2021
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TweetShareSharePin0 Shares When examining how tax policy impacts the economy, researchers typically look at labor supply and investment responses. One other channel through which taxes impact the economy has been less studied: innovation. A new National Bureau of Economic Research (NBER) paper reviews the literature and concludes that taxes have a significant impact on the
Tax Proposals Coming Fast And Furious
October 27, 2021
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TweetShareSharePin0 Shares Pelosi: Spending bill before infrastructure bill. Source link TweetShareSharePin0 Shares
Gaming The SALT Cap May Be Congress’s Worst Tax Idea Of The Year
October 27, 2021
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TweetShareSharePin0 Shares Ever since Congress capped the state and local tax (SALT) deduction in 2017, a small group of Blue State Democrats has demanded the cap’s repeal. Indeed, they have made it their price for supporting President Biden’s Build Back Better social spending bill. Now, it appears they may get their wish. The result, though,
What Constitutes Diesel Fuel Prices?
October 27, 2021
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TweetShareSharePin0 SharesWhat Constitutes Diesel Fuel Prices? Tracing its name from its German inventor, Rudolf Diesel, diesel fuel is what is used in the compression ignition engines of motor vehicles. It is important to a country’s economy, quality of life, and national security. Any fluctuation of its price will have an effect on how people live
JR Cigars: Offering You Better Choices
October 26, 2021
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TweetShareSharePin0 SharesJR Cigars: Offering You Better Choices Do you want to purchase cigars online? Do you want a reputable online retailer – one that offers quality cigars at affordable and reasonable prices? Did you ever consider buying from JR Cigars? Are you a veteran cigar smoker and likes to buy hand made cigars? Why don’t
Billionaires Tax on Capital Gains Invites Tax Collection Volatility
October 26, 2021
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TweetShareSharePin0 Shares Congressional Democrats are reported to be weighing a special tax on the assets of billionaires to raise revenues to pay for their Build Back Better spending plan. There are two fundamental challenges to such a plan. First, the incomes and wealth of such individuals are anything but stable; they rise and fall with
