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Treasury Department Archive

The Elephant in The Room: The Gap Between Federal Retiree Benefits and Taxes Paid

TweetShareSharePin0 Shares President Trump was afraid to tackle the dominant set of spending and tax issues facing the federal government. Ditto, so far, for President Biden. Under current law, the Social Security and Medicare trust funds that pay out crucial benefits to retirees will go insolvent by roughly 2034 and 2026, respectively, triggering large mandatory

A TurboTax Settlement, An EU Minimum Tax

TweetShareSharePin0 Shares Intuit to pay $141 million settlement over its misleading ads for “free” filing. New York’s attorney general announced TurboTax parent Intuit will pay $141 million to customers it attracted with promises of free tax-filing but who ended up paying for services. Intuit will suspend TurboTax’s “free, free, free” ad campaign and pay restitution

A TurboTax Settlement, An EU Minimum Tax

TweetShareSharePin0 Shares Intuit to pay $141 million settlement over its misleading ads for “free” filing. New York’s attorney general announced TurboTax parent Intuit will pay $141 million to customers it attracted with promises of free tax-filing but who ended up paying for services. Intuit will suspend TurboTax’s “free, free, free” ad campaign and pay restitution

Energy Taxes And Electric Vehicles

TweetShareSharePin0 Shares Did Joe Manchin just justify a carbon tax? Sen. Joe Manchin called tax credits for electric vehicles “ludicrous” but by doing so, did he offer a powerful defense of a carbon tax? TPC Howard Gleckman writes he may have, if only inadvertently. While Manchin is right that tax credits would do little to encourage

The Tax Justice Network’s French podcast: Financement de l’Education: Quel justice fiscale pour l’Afrique?

TweetShareSharePin0 Shares Welcome to our monthly podcast in French, Impôts et Justice Sociale with Idriss Linge of the Tax Justice Network. All our podcasts are unique productions in five different languages every month in English, Spanish, Arabic, French, Portuguese. They’re all available here and on most podcast apps. Here’s our latest episode: Pour cette 39ème édition de votre podcast francophone produit par the Tax Justice Network, nous partageons

State Sales Tax Breadth and Reliance, FY 2021

TweetShareSharePin0 Shares Key Findings Sales taxes account for 29.52 percent of state tax revenue, but most sales taxes are imposed on narrow—and still-narrowing—bases, with average sales tax breadth of only 29.71 percent and a median of 35.72 percent. Sales tax bases range from 19.32 percent of personal income in Massachusetts to 93.89 percent in Hawaii;

Ballot Proposals Advance, Or Don’t, While Inflation Boosts Some Tax Revenues

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

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
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