federal taxes Archive

TweetShareSharePin0 Shares Increasing tax compliance is a major part of the Biden administration proposal to raise revenue for physical and social infrastructure. Reducing the tax gap—the difference between taxes owed and taxes paid—is a good way to raise revenue, but it doesn’t come without trade-offs, and it’s important to go about it in the right

TweetShareSharePin0 SharesYour Well Being And Taxes Few things threaten your well-being like the harassment and anxiety of persistent tax problems. Most people make 3 mistakes that get them in trouble with the IRS. They procrastinate. They attempt to represent themselves. They hire sub-par representation and now are in MORE need of help than ever before.

TweetShareSharePin0 Shares All European Union (EU) countries and the United Kingdom levy excise duties on distilled alcohol; excise tax is applied to the cost of goods on purchase. The standard size of a liquor bottle in Europe is 700ml (23.7 oz). Many spirits, such as vodka, gin, rum, and whiskey, contain alcohol content in the

TweetShareSharePin11 Shares The U.S. corporate tax code is a complicated behemoth, loaded with numerous arcane provisions—some of these providing special tax breaks, others imposing special tax penalties. Among the latter group, indirect expense allocation rules penalize domestic activities and impose a hidden surtax on foreign profits. While arcane, expense allocation rules are relevant to current

TweetShareSharePin0 Shares One of the ways lawmakers intend to pay for $3.5 trillion of new spending in the budget reconciliation package is by creating “health care savings.” The leading proposal to achieve this is H.R. 3, the Elijah Cummings Lower Drug Costs Now Act, which would change the way that prescription drug prices are negotiated

TweetShareSharePin0 Shares As Congress considers repealing or making more generous the $10,000 state and local tax deduction cap in the budget reconciliation process, it is helpful to review how the state and local tax (SALT) deduction is taken by taxpayers across U.S. counties. Using 2018 data from the Internal Revenue Service, we can examine how

TweetShareSharePin0 Shares House passes the budget resolution, sets an infrastructure vote for September 27. The House passed the $3.5 trillion budget framework on a party-line vote. Speaker Nancy Pelosi committed to  bringing the bipartisan $1 trillion infrastructure bill to the House by September 27.  It remains to be seen whether the House can pull together