Tax
The COVID-19 Relief Bill Contains Over $100 Billion in State Aid After All
Much has been made of the decision not to include state and local government relief in the $910 billion Coronavirus Response and Relief Supplemental Appropriations Act which recently passed Congress, pending presidential action. The exclusion of direct aid in the lame duck session legislation was likely informed by the relatively good shape of many states’…
Read MoreHere’s How Education-Related Tax Benefits Could Change in 2021
The mess of education-related tax breaks available to taxpayers will become a bit easier to navigate in coming years if the Consolidated Appropriations Act of 2021 is signed into law. The year-end act, which provides for regular government funding, coronavirus-related relief, and various other congressional priorities, would clean up a temporary education-related tax break that…
Read MoreCOVID-19 Relief Package FAQ
Leadership in the U.S. House and Senate came to an agreement in December over the details of a $900 billion COVID-19 relief bill, (Consolidated Appropriations Act, 2021) to be attached to a broader $1.4 trillion omnibus which will fund the federal government for the 2021 fiscal year. The COVID-19 relief bill extends and modifies several provisions first enacted in…
Read MoreTaxVox’s Lump of Coal Award For The Worst Tax Policy Ideas of 2020
Tax Vox’s Lump of Coal Award For The Worst Tax Policy Ideas of 2020 It goes without saying that 2020 was an awful year. Bad tax policy didn’t make it much better.
Read MoreTax Extenders Hitch a Ride on Omnibus and COVID-19 Relief Deal
Tax extenders are no stranger to hitching a last-minute ride on year-end legislation. This year they made another last-minute appearance, finding a hold in their own division of the 5,593-page bill to fund the government through the fiscal year and provide additional coronavirus relief through March. If you’ve followed the extenders debate, you know that…
Read MoreCongress Reaches a Deal on $900 Billion in Pandemic Relief
Sunday evening, leadership in the U.S. House and Senate came to an agreement over the details of a $900 billion coronavirus relief bill, to be attached to a broader $1.4 trillion omnibus which will fund the federal government for the 2021 fiscal year. Congress also voted to extend a continuing resolution (CR) to keep the federal…
Read MorePandemic Highlights the Need for Better Tax Policy for Entrepreneurs and Small Businesses
As Congress works to provide another round of emergency relief for individuals and businesses impacted by the pandemic and pass a bill funding the government for FY 2021, it is a good time to step back and consider how tax policy affects entrepreneurs and small businesses. In addition to short- and long-term tax policy issues,…
Read MoreThe Pandemic Relief Bill’s Good, Bad, and Ugly Tax Provisions
The pandemic relief bill Congress is about to pass [HG1] is loaded with tax provisions. Some deliver important assistance to households and businesses damaged by…
Read MoreGross Receipt Taxes Become Part of New Jersey’s Recreational Marijuana Legalization
Thursday, the New Jersey Senate and Assembly passed bills (S21 and A21) legalizing recreational marijuana sales, as required since voters passed Question 1 on Election Day. Sales will begin after the Cannabis Regulatory Commission finalizes its rules and regulations. Sales of recreational marijuana in New Jersey will be taxed under the general state sales rate…
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