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tax Archive

Sources of US Tax Revenue by Tax Type, 2022

TweetShareSharePin0 Shares Policy and economic differences among OECD countries have created variances in how they raise tax revenue, with the United States deviating substantially from the OECD average on some sources of revenue. Different taxes create different economic impacts, so policymakers should always consider how tax revenue is raised and not just how much is

Crypto Tax Challenges Just Keep Growing

TweetShareSharePin0 Shares IRS Commissioner Charles Rettig raised some eyebrows when he singled out the growing popularity of cryptocurrency as a big factor behind the sizeable tax gap—the difference between what the IRS collects versus what taxpayers legally owe. Last year, Congress took modest bipartisan action to address some crypto tax compliance issues in the Infrastructure

IRS identifies paused taxpayer notices

TweetShareSharePin0 Shares The IRS announced Wednesday in a news release the letters and notices it will not send taxpayers as it works through its backlog of unprocessed prior-year returns. In a Jan. 27 announcement, the Service said it was suspending certain automated letters and notices without identifying them specifically, saying only that they included, for

Causing Less Work for Themselves and Others

TweetShareSharePin0 Shares 0 Flares Filament.io Made with Flare More Info“> 0 Flares × Yesterday, the IRS announced that it was suspending a number of notices while it continues to work through its backlog of cases.  Included in the suspended notices are the first three notices in the

Two Recent Circuit Level Decisions Appear to Dispute View That the Refund Claim Filing Requirement is Jurisdictional (Part 2)

TweetShareSharePin0 Shares This is part two of a two-part post on jurisdiction issues arising from the filing of a claim for refund and the subsequent litigation.  The prior post focused on the case of Morton v. United States and this post will focus on Brown v. United States.  Carl Smith contributed to the commentary in

Massachusetts Gross Receipts Tax Proposal

TweetShareSharePin0 Shares The economic harms of the gross receipts tax (GRT) were well understood by the early 20th century. Not only is the tax inequitable, but it is also inefficient and distortionary. That is why most states abandoned GRTs in the early 1900s, as states developed the capacity to administer less harmful taxes. Unfortunately, some

Remembering Don Lubick | Tax Policy Center

TweetShareSharePin0 Shares Don Lubick, who passed away yesterday at age 95, was an extraordinary public servant who was among the last living links to the beginnings of modern tax policy. I do not believe anyone served longer in senior Treasury tax policy positions than Don. Remarkably, he began his government career in the Kennedy Administration
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