tax Archive

An Open Letter to the Last IRS Commissioner

TweetShareSharePin0 Shares 0 Flares Made with Flare More Info“> 0 Flares × 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

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

Nebraska Tax Relief Solutions: Nebraksa Income Tax Reform

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

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

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

January 2023 Digest

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

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