tax Archive
Joe Manchin Just Made A Great Argument In Support of A Carbon Tax
May 3, 2022
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TweetShareSharePin0 Shares West Virginia Senator Joe Manchin set off environmentalists last week when he said tax credits to subsidize the purchase of electric vehicle (EV) tax credits are “ludicrous.” His argument: It makes no sense for government to subsidize EV purchases when demand for the vehicles far exceeds supply. In the short run, Manchin is
What Happens to Employees When the Employer Fails to Pay Over to the Government Withheld Taxes
May 3, 2022
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TweetShareSharePin0 Shares In Plazzi v. FedEx Ground Package System, Inc., No. 1:21:-cv-12130 (D. Mass. 2022), three employees sued their employer because their withheld wages were not paid over to the government. I do not remember seeing such a suit previously, but this is a matter that I discuss with my students each semester. Most of
Ballot Proposals Advance, Or Don’t, While Inflation Boosts Some Tax Revenues
May 3, 2022
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TweetShareSharePin0 Shares Business groups want the Massachusetts high court to revise a millionaires’ tax referendum. The November ballot will include a constitutional amendment to create a 4 percent surtax on individual income exceeding $1 million. The revenue is supposed to support transportation and education. But business groups want the state Supreme Court to revise the
Ballot Proposals Advance, Or Don’t, While Inflation Boosts Some Tax Revenues
May 3, 2022
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TweetShareSharePin0 Shares Business groups want the Massachusetts high court to revise a millionaires’ tax referendum. The November ballot will include a constitutional amendment to create a 4 percent surtax on individual income exceeding $1 million. The revenue is supposed to support transportation and education. But business groups want the state Supreme Court to revise the
Tax Justice Network Arabic podcast #53: الإعلان عن إفلاس لبنان: أين الحقيقة؟
May 3, 2022
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TweetShareSharePin0 Shares Welcome to the 53rd edition of our Arabic podcast/radio show Taxes Simply الجباية ببساطة contributing to tax justice public debate around the world. It’s produced and presented by Walid Ben Rhouma and is available on most podcast apps. Any radio station is welcome to broadcast it for free and websites are also welcome to share it. You can follow
USICA, Competes Act, Corporate Tax Comparison
May 3, 2022
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TweetShareSharePin0 Shares Key Findings Federal policymakers are debating a legislative package focused on boosting U.S. competitiveness vis-a-vis China; however, it currently contains little to no improvements to the U.S. tax code. The existing U.S. tax code is biased against capital investment and it is scheduled to worsen over the next decade. The tax bias against
Business Tax Reform Critical to Economic Recovery Set to Expire Soon
May 2, 2022
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TweetShareSharePin0 Shares At a moment when we are seeing clear weaknesses in supply chains and needs for gearing production toward more environmentally friendly approaches, capital investment is critical. Policymakers have an opportunity to change a coming decline in investment incentives by adopting permanent policies to support growth. Expiring tax policies in major economies could create
April 2022 Digest
May 2, 2022
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TweetShareSharePin0 Shares It’s no surprise that the Supreme Court decision in Boechler was the highlight of PT posts in April. PT has been covering and standing steadfast behind the argument for many, many years and the case is a huge win for taxpayers, taxpayer representatives, and everyone who has helped inch this argument along. Supreme
Improving the Charitable Deduction and Free File, Trashing EV Tax Credits
May 2, 2022
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TweetShareSharePin0 Shares Reforming the charitable deduction. TPC’s Gene Steuerle recommends ways to reform the charitable deduction. His primary suggestion: Congress should take into account cost-effectiveness. “That means putting gains for charitable beneficiaries—not taxpayers or even the charities themselves—as the major objective. Manchin: EV tax credit is “ludicrous.” Sen. Joe Manchin, who in the past has
Inflation boosts HSA amounts for 2023
April 29, 2022
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TweetShareSharePin0 Shares The maximum contribution to a health savings account and certain related benchmarks will be sharply higher next year, reflecting inflation-linked adjustments. The IRS announced the updated amounts Friday in Rev. Proc. 2022-24, as it does each year under Sec. 223(g). The revenue procedure also includes the revised maximum amount that may be made
