Tax
Recraft The EITC To Help Parents Caring For Children Who Can’t Return To School Full-Time
As parents learn how many days (if any) their children will be in a physical school this fall, many are preparing to provide care for…
Read MoreSenate Republicans Introduce the HEALS Act for Coronavirus Pandemic Relief
On Monday, Senate Majority Leader Mitch McConnell (R-KY) announced the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act, backed by Senate Republicans as their opening bid for “Phase 4” economic relief ahead of negotiations with Senate and House Democrats. Phase 4 relief is the anticipated follow-up legislation to the $2 trillion Coronavirus Aid, Relief,…
Read MoreRevenue Gains in Asian and Pacific Countries Likely Offset by COVID-19
The Organisation for Economic Co-operation and Development (OECD) recently published a report on tax revenue statistics in selected Asian and Pacific countries, covering 21 tax jurisdictions. The report provides tax revenue data from 1990 to 2018 and includes a section on nontax revenue data for selected Asian and Pacific economies. Additionally, a special feature co-authored by the…
Read MoreCongress Has Many Ways To Boost The Economy By Getting Cash Into People’s Pockets. Which One Is Best?
As Congress scrambles to pass another COVID-19 relief bill, it must decide how best to put money into the hands of people who are suffering…
Read MoreNew York and New Jersey Consider Financial Transaction Taxes
Seeking new sources of funding, New York and New Jersey—two states at the heart of global financial markets—are considering financial transaction taxes. New Jersey’s A4402 would impose a 0.25 cent tax on every financial transaction processed in the state. In New York, some lawmakers have proposed a rate as high as 5 cents per share…
Read MoreThe IRS Delivered Economic Impact Payments In Record Time, So Why Haven’t Some Needy Families Gotten Their Money?
With Congress about to debate a second round of stimulus payments for tens of millions of people, it is important to review some lessons about…
Read More1980s Tax Reform, Cost Recovery, and the Real Estate Industry: Lessons for Today
Key Findings Allowing companies to fully and immediately deduct investments in structures is one of the most cost-efficient ways lawmakers can stimulate investment, create jobs, and boost GDP during a post-pandemic recovery. Changes to depreciation schedules in the two pieces of major tax legislation in the 1980s influenced investment in real estate and have since…
Read MoreDistilled Spirits Taxes in Europe
All European Union (EU) countries levy excise duties on distilled alcohol; excise tax is applied to the cost of goods on purchase. The standard size of a liquor bottle in the EU is 700ml (23.7 oz). Many spirits, such as vodka, gin, rum, and whiskey, contain alcohol content in the range of 40 percent. The…
Read MoreAustria Is Mulling an Allowance for Corporate Equity
Last week, Austria’s Finance Minister Gernot Bluemel stated that Austria is looking at introducing a tax allowance for corporate equity—or sometimes also referred to as notional interest deduction—as early as next year. Such an allowance would allow businesses to deduct a defined rate of interest on equity from their tax base—a measure that intends to…
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