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Treasury Department Archive

State & Local Tax Structure Has a Critical Impact

TweetShareSharePin0 Shares While high top tax rates may provide “sticker shock” for corporations looking for a state to call home, they are just one of several important drivers of businesses’ tax burdens and tax compliance costs. The tax base, and more broadly, the structure of the tax code, play a large role in business taxes

Proposals to Fix Upcoming Federal Tax Changes

TweetShareSharePin0 Shares Three upcoming tax law changes scheduled by the 2017 Tax Cuts and Jobs Act (TCJA) to help offset its revenue losses would be canceled by proposed legislation that would prevent the tax treatment of investment from worsening over the coming years. Three Upcoming Tax Increases on Investment Policy Timing Requirement to amortize R&D

VAT Exemption Thresholds in Europe, 2021

TweetShareSharePin0 Shares All countries covered in today’s map levy Value-Added Taxes (VAT). However, to reduce compliance and administrative costs, most countries have VAT exemption thresholds: If a business is below a certain annual revenue threshold, it is not required to participate in the VAT system. This means that small businesses—unlike businesses above that threshold—do not

A Storm, A Warning, And Maybe A Credit

TweetShareSharePin0 Shares A perfect storm, and 35 million unprocessed returns. In her annual objectives report to Congress, National Taxpayer Advocate Erin Collins finds that the IRS still had 35.3 million unprocessed returns at the end of the 2021 filing season, four times what it had at the end of the 2019 filing season. In something

How Will Your Fourth of July be Taxed?

TweetShareSharePin0 Shares The holiday weekend is almost upon us and many are getting ready for a weekend of family and celebration. Independence Day means firing up the barbecue, setting off fireworks, enjoying cold drinks, and wearing flag paraphernalia. It also means spending big: last year, Americans spent $6.52 billion for the Fourth of July. This

Navigating the Reconciliation Bill | Tax Policy Center

TweetShareSharePin0 Shares A Democratic-only social spending bill gains Manchin’s support. West Virginia Senator Joe Manchin told MSNBC that he’s always assumed Democrats would need to use reconciliation to pass a second, larger bill aimed at supporting families. He says he’d support such a Democratic-only social spending measure, but says it shouldn’t be linked to a
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