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tax Archive

More Clarity on CSED Problem

TweetShareSharePin0 Shares In January of this year I wrote about a problem with the Collection Statute of Limitations (CSED) that my clinic encountered.  In our quest to resolve the CSED problem, we involved the Local Taxpayer Advocate office.  It confirmed that the CSED had run, despite the fact that the taxpayer’s account was still open,

Sports Betting Tax Treatment: Sports Betting Operators

TweetShareSharePin0 Shares Since 2018, 30 states and the District and Columbia have legalized and imposed taxes on sports betting. States that have yet to legalize, but which may do so, should pay attention to the impact of tax design in states that already have legal and taxed sports betting—specifically tax base design. Despite the attention

State and Local Sales Tax Rates, Midyear 2021

TweetShareSharePin0 Shares Key Findings Forty-five states and the District of Columbia collect statewide sales taxes. Local sales taxes are collected in 38 states. In some cases, they can rival or even exceed state rates. The five states with the highest average combined state and local sales tax rates are Louisiana (9.55 percent), Tennessee (9.547 percent),

Corporation Tax Burdens: Property Taxes & Sales Taxes

TweetShareSharePin0 Shares When most people think about “business taxes,” the corporate income tax is usually the first that comes to mind. Corporate income taxes generate sizable tax burdens for businesses—especially at the federal level—but at the state level, the corporate income tax is just one of many taxes businesses pay. For many companies, state corporate

Advance Child Tax Credit Payments

TweetShareSharePin0 Shares Later this month more than 39 million households are set to receive advance payments of the Child Tax Credit (CTC) that was expanded in the March 2021 American Rescue Plan. Many households are uncertain about how the advance payments will affect their refunds or taxes owed when they file next year, and some

Biden Tax Proposals Could Impact Small Businesses

TweetShareSharePin0 Shares In a prior post, we discussed how President Biden’s tax proposals under the American Jobs Plan could increase the tax burden on small businesses in the corporate sector. This post will examine how the tax proposals under the American Families Plan could affect businesses in the non-corporate sector. While these proposals primarily target

Anti-Base Erosion Provisions and Territorial Tax Systems in OECD

TweetShareSharePin0 Shares Key Findings All OECD countries with territorial tax systems have designed provisions that seek to prevent base erosion and profit shifting by multinational corporations. Designing a territorial tax system requires balancing competing goals: exempting foreign business activity from domestic taxation, protecting the domestic corporate tax base, and creating a simple system. A system
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