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“Build Back Better” Progress? | Tax Policy Center

TweetShareSharePin0 Shares Democrats may be closing the gap on Build Back Better. After meeting with President Biden yesterday, Democrats showed some signs of narrowing their differences on a major social spending and tax bill. Biden told Democrats he’s aiming for a deal of about $1.75 trillion to $1.9 trillion, far less than the $3.5 trillion

What’s Going on with the Child Tax Credit Debate?

TweetShareSharePin0 Shares President Biden expanded and fundamentally changed the Child Tax Credit (CTC) for one year in the American Rescue Plan (ARP) passed in March 2021. Policymakers are now deciding the future of the expansion as part of the proposed reconciliation package, but a wide range of estimates for the effects of a permanent expansion

A CTC Work Requirement? | Tax Policy Center

TweetShareSharePin0 Shares Changes to the CTC proposed by Sen. Manchin. Axios reports the West Virginia Democrat asked the White House to add a work requirement to an expanded Child Tax Credit and limit benefits to families with incomes of about $60,000 or less. Such a change would reduce the $3.5 trillion price tag of the

Qualify for Penalty Relief (Abatement) with Reasonable Cause

TweetShareSharePin0 Shares Reasonable Cause Not Willful Neglect to Avoid IRS Penalties Penalty Relief (Abatement) with Reasonable Cause Reasonable Cause Not Willful Neglect to Avoid IRS Penalties: It would be literally impossible to try to find a standard more nebulous and precarious for Taxpayers seeking to avoid IRS penalties than the phrase “Reasonable Cause and Not

2021 International Tax Competitiveness Index

TweetShareSharePin0 Shares Note: Each year we review and improve the methodology of the Index. For that reason, prior editions are not comparable to the results in this 2020 edition. All data and methodological notes are accessible in our GitHub repository. Below is a preview of the 2021 Index. To access the full report, click the download
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