Stop spending on accountants when you can be one yourself. February 10, 2021 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. This time of year is especially stressful […]
The nine legislative measures released by the House Ways and Means Committee under the budget reconciliation instructions begins to put legislative text to Congress’ next round of pandemic relief. The nine measures comprise more than half of the $1.9 trillion in additional coronavirus-related relief put forth by congressional Democrats and President Biden. The Ways and Means measures would extend many […]
The House Ways and Means Democrats’ just-released proposal to expand the child tax credit for one year represents a significant expansion of benefits but comes with several administrative challenges. It would be included in President Biden’s larger $1.9 trillion in economic relief package moving through the budget reconciliation process. The Child Tax Credit (CTC) would be expanded from $2,000 today […]
Since the 2008 financial crisis, financial transaction taxes (FTTs) have been debated as a potential instrument to address financial market instabilities and as a source for tax revenue. Today’s map shows which European OECD countries impose a type of FTT. FTTs are levied on the trade in financial instruments such as stocks, bonds, or derivatives. Under an FTT, a percentage […]
Key Findings The EU budget agreement reached in 2020 called for a new digital levy as a funding mechanism. Evidence on the taxes paid by digital companies calls into question the arguments in favor of a digital levy. EU policymakers should focus on continued implementation of digital VAT policies and ongoing international negotiations rather than design a new tax on […]
This week, the Treasury Department added several new appointees as staffing continues following President Biden’s inauguration. Among them were three scholars of international tax policy: economist Kimberly Clausing and law professors Rebecca Kysar and Itai Grinberg. These three will be influential in developing the administration’s approach to changing U.S. tax rules for multinational corporations and negotiating international tax policy changes […]
The Internal Revenue Service (IRS) has released data on individual income taxes for tax year 2018, showing the number of taxpayers, adjusted gross income, and income tax shares by income percentiles.[1] The new data shows how taxes changed in the first tax year after passage of the Tax Cuts and Jobs Act (TCJA) in December 2017. The data shows that […]