Tax

Treasury Secretary Steven Mnuchin and the IRS are right: Because the hundreds of billions of dollars the businesses are getting through the Coronavirus Aid, Relief,…

Recently, Tax Foundation has been comparing various ways to improve the tax treatment of new capital investments. One of these options is a Neutral Cost Recovery System (NCRS), which reduces the bias in the tax code against long-term investments. As my colleagues have written, Improving capital cost recovery will be crucial to the post-pandemic effort…

The Alabama Senate is considering legislative language (a substitute to the previously introduced SB 250 tax reform bill) which would exclude the rebate checks provided under the CARES Act from being taxed and exclude it from state income tax calculations. While those two phrases might sound redundant, they are both important in light of the…

This afternoon, Gov. Larry Hogan (R) vetoed a proposed first-in-the-nation digital advertising tax that would have imposed rates of up to 10 percent on digital advertising served to Marylanders. Although the bill ostensibly targets large technology companies and advertising platforms, much of the burden would fall on Maryland businesses and consumers, and the timing couldn’t…

So far, the federal government has focused on short-term policies to stem the spread of COVID-19 and provide immediate relief, but soon they will need to address what may prove to be an even more difficult task: ensuring a strong post-crisis recovery. Tax Foundation President Scott Hodge and Vice President of Federal Tax and Economic…

One of President Trump’s demands for the next COVID-19 relief bill is restoration of the tax deduction for business meals and entertainment expenses. Since the…