tax Archive
IRS Statement Regarding Payment of Special Tax Refunds by States
February 4, 2023
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TweetShareSharePin0 Shares February 4, 2023 by Keith Fogg Leave a Comment 0 Flares
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After the post by Bob Kamman, the IRS released a statement yesterday regarding these payments: February 3 update IRS issues statement about the taxability of
Wait times for practitioner phone line reduced, IRS official says
February 3, 2023
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TweetShareSharePin0 Shares Starting in January, the IRS has answered calls to its Practitioner Priority Service telephone line in under 10 minutes, thanks to new hires and the blocking of line-jumping services, the man who leads much of the agency’s taxpayer response said. Kenneth Corbin, the taxpayer experience officer for the IRS and its Wage and
An Open Letter to the Last IRS Commissioner
February 3, 2023
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Phoenix lawyer Bob Kamman, an occasional guest blogger and frequent commenter, turns 74 this week. He tells us that his clients won’t allow him to retire. And, some of them must file California returns,
Three State Tax Cut Lessons for 2023
February 2, 2023
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TweetShareSharePin0 Shares The past two years were a great time to make state tax policy. Booming revenue collections combined with hundreds of billions of dollars from Congress in pandemic-related aid took tough budget decisions off the agenda in most states. In fact, 29 states passed major tax cuts in 2021 and 35 states did so
Tax Court Trial Procedures: Guidelines from Judge Jones
February 2, 2023
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Last week I attended my first Washington, D.C. calendar call, over which Judge Jones presided. This post describes the trial procedures announced at calendar call. While the procedures may be especially helpful in cases
Nebraska Tax Relief Solutions: Nebraksa Income Tax Reform
February 2, 2023
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TweetShareSharePin0 Shares Note: The following is Tax Foundation testimony submitted to the Nebraska Revenue Committee ahead of the hearing on LB754 on February 2, 2023. Chair Linehan and Members of the Revenue Committee: As you consider providing tax relief to Nebraska residents, I appreciate the opportunity to share how reducing top marginal individual and corporate
Ron DeSantis Proposes Ban on Sales Tax For Baby Formula, More
February 2, 2023
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TweetShareSharePin0 Shares Florida Governor Ron DeSantis, the frontrunner for the 2024 Republican Presidential nod, has officially proposed a $115 billion budget for the Sunshine State. Notably, the plan comes with $1.5 billion in tax breaks for Florida residents, including a permanent ban on sales tax for certain products like baby formula and gas stoves. Last
2023 State Tax Trends: State Income Tax Relief
February 1, 2023
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TweetShareSharePin0 Shares Forty-three states adopted tax relief in 2021 or 2022—often in both years—and of those, 21 cut state income tax rates. It’s been a remarkable trend, driven by robust state revenues and an increasingly competitive tax environment. But many observers doubted the trend could, or should, continue into 2023. It can. It should. It
The Effects Of Using New Tax Revenue To Shore Up Medicare’s Finances
February 1, 2023
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TweetShareSharePin0 Shares How could new tax revenues ease Medicare’s substantial financial pressures? And how would those tax hikes affect federal revenues and the distribution of tax burdens across income groups? A new joint report from the Urban Institute’s Tax Policy Center and Health Policy Center examines the pros and cons of several plans to increase
January 2023 Digest
February 1, 2023
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TweetShareSharePin0 Shares It’s hard to believe we’re already one month into the new year and tax filing season has begun. It feels like the IRS’s front-line operations are improving, but of course, there is always more work to do. The government, tax practitioners, and academics are starting the year off strong by focusing on the
