Tax
Why Are Dependents Over Age 16 Still Ineligible for Economic Impact Payments?
Over 20 million people—dependents who are college students, adults with disabilities, or elderly parents cared for by their adult children—were missed when calculating economic impact payments not once, but twice. Why?
Read MoreWould Stimulus Payments Have Been Bigger If Trump And Democrats Called Them Tax Relief?
One of the very oddest things about the bizarre debate over whether to increase the latest round of direct government payments from $600 per person…
Read MoreState Tax Changes Effective January 1, 2021
Table of Contents Key Findings Introduction Corporate Income Tax Changes Individual Income Tax Changes Sales and Use Tax Changes Property and Wealth Tax Changes Tobacco, Vapor, and Marijuana Tax Changes Transportation Tax Changes Miscellaneous Excise Tax Changes Other Tax Changes Retroactive Tax Changes Adopted in 2020 Key Findings Twenty-six states and the District of Columbia…
Read MoreFamilies Can Use the Child Care Tax Credit to Pay for Informal Day Care, But the System Can Be Improved
The COVID-19 pandemic is changing the face of child care. Formal, licensed child care centers have struggled to stay afloat in the face of rising…
Read MoreA New Look at Racial Wealth Inequalities Before the Pandemic
The Federal Reserve Board’s 2019 Survey of Consumer Finances (SCF) helps us understand US wealth disparities prior to the COVID-19 pandemic that has disproportionately harmed…
Read MoreThree New Year’s Resolutions for Tax Policymakers
The world is ready to close the book on 2020 and start fresh in 2021, awaiting widespread vaccination, an end to the pandemic, and the beginning of a new chapter of economic recovery. With a fresh start in mind, and a healthy dose of optimism, here are three New Year’s resolutions for crafting better tax…
Read MoreHow Much Will Households Receive from Round Two of the Economic Impact Payments?
Was it really last May that the House of Representatives passed the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, which would have authorized…
Read MoreSparkling Wine Taxes in Europe
This week, people around the world will celebrate New Year’s Eve, with many opening a bottle of sparkling wine to wish farewell to—a rather consequential—2020 and offer a warm welcome to the—by many of us, long-awaited—new year 2021. If you have ever wondered about the tax consequences of opening that bottle of sparkling wine—yes, there…
Read MoreHow High Are Champagne Taxes in Your State?
Whether 2020 has felt like a blur or a slog—whether it feels like December or as if it’s still March—we are finally reaching the end of a hard year. Traditional New Year’s Eve parties may be out this year, but if your festivities still include popping a bottle of bubbly, the champagne you toast with…
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