tax Archive

Are Tax Cuts, Not Spending, Causing Our Debt Problems?

TweetShareSharePin0 Shares A new study blames tax cuts, not spending increases, for the federal government’s fiscal trajectory. First reported by Semafor, research from the Center for American Progress argues that the national debt – as compared to the size of the US economy – would have been stable since the early 2000s, if not for

Dividend Tax Rates in Europe | Dividend Income Tax Data

TweetShareSharePin0 Shares Many countries’ personal income tax systems tax various sources of individual income—including investment income such as dividends and capital gains. Today’s map shows how dividend income is taxed across European OECD countries. A dividend is a payment made to a corporation’s shareholders from corporate after-tax profits. In most countries, such dividend payments are

Property Taxes Guide: Property Tax Assessment

TweetShareSharePin0 Shares The past two years have seen a strong focus on tax reform, specifically on individual and corporate income taxes—with 2023 continuing the trend. But as housing prices are rapidly increasing, and property tax bills along with them, the property tax has come into the spotlight in many states. Because property taxes are a

Jurisdiction of District Court in Innocent Spouse Case

TweetShareSharePin0 Shares On March 22, 2023, in the case of Viktoriya Korleshchuk-Petrie v. United States, Dk. No. 21-cv-40125-DHH (D. Mass.), the court denied the Department of Justice (DOJ) Tax Division trial section’s dual motions to dismiss the case for LOJ under FRCP 12(b)(1) and for failure to state a claim under FRCP 12(b)(6). The court

Seeking a Discharge of the Federal Tax Lien

TweetShareSharePin0 Shares The case of Long v. United States, Dk. No. 2:22-cv-00176 (D. Utah 2023) examines the request for a discharge of the federal tax lien and declines to provide the relief requested. The factual background for the request for relief does not arise with great frequency but comes up often enough and always makes

Biden’s Budget Is A Big Tax Hike For The Top 1 Percent

TweetShareSharePin0 Shares TPC analyzed the major tax provisions in President Biden’s budget. Its analysis finds that Biden’s plan would raise average after-tax incomes for low-income households in 2024 and leave them effectively unchanged for middle-income households. The top 1 percent (those with at least roughly $1 million in income) would pay an average of $300,000

Tax Court Rule Changes

TweetShareSharePin0 Shares On March 20, 2023, about a year after it published proposed changes to its Rules, the Tax Court published changes to its Rules and much more.  In addition to publishing the updated Rules, it published a discussion of the comments it received in a similar style to publishing comments to a proposed regulation. 

Biden Budget Tax Proposals: Details & Analysis

TweetShareSharePin0 Shares Topline Preliminary Estimates Net Deficit Impact Long-run GDP Wages FTE Jobs Note: *On a conventional basis. Source: Tax Foundation General Equilibrium Model, March 2023. President Biden’s Fiscal Year 2024 Budget outlines several major tax increases that would add up to nearly $4.8 trillion in new taxes targeted at businesses and high-income individuals. After $833 billion

State Debt, State Revenue, and State Tax Collections

TweetShareSharePin0 Shares How do taxes in your state compare regionally and nationally? Facts and Figures, a resource we’ve provided to U.S. taxpayers and legislators since 1941, serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more. For visualizations and further analysis of 2023 state tax

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