Search for: "Bill Bunn"
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14 Feb 2023, 9:05 am
Key Findings The federal tax code remains a major source of frustration and controversy for Americans, and a hindrance to economic growth and opportunity. [read post]
1 Nov 2022, 1:55 am
Many of the other business tax changes were temporary or scheduled to change over the ensuing decade, in large part to reduce the deficit impact of the bill and to pay for a permanently lower corporate tax rate. [read post]
20 Sep 2022, 9:01 pm
Instead of deducting capital expenditure immediately, firms usually have to write it off against their tax bills over time, in line with various capital allowances or depreciation schedules. [read post]
30 Aug 2022, 1:55 am
Because a business is prevented from deducting the full $100 in real terms, its tax bill is artificially higher and the after-tax cost of making the investment is higher. [read post]
30 Jun 2022, 3:50 am
Key Findings A year since the global tax deal was agreed to by more than 130 countries, progress on implementing legislation has hit a lull. [read post]
7 Jun 2022, 6:51 am
Source: Tax Foundation, “House Build Back Better Act: Details & Analysis of Tax Provisions in the Budget Reconciliation Bill,” Dec. 2, 2021, https://www.taxfoundation.org/build-back-better-plan-reconciliation-bill-tax/#Revenue, and Committee for a Responsible Federal Budget, “Analysis of the President’s FY 2023 Budget,” Mar. 28, 2022, https://www.crfb.org/papers/analysis-presidents-fy-2023-budget. [read post]
3 May 2022, 1:55 am
Key Findings Federal policymakers are debating a legislative package focused on boosting U.S. competitiveness vis-a-vis China; however, it currently contains little to no improvements to the U.S. tax code. [read post]
26 Apr 2022, 2:50 am
The lower the capital cost recovery rate, the more a business’s taxable income is inflated and the more its tax bill is overstated, making capital investment more expensive. [read post]
2 Sep 2021, 5:35 am
In the ideal tax system, all costs should be deducted the year they are incurred, whether regular recurring expenses like wages and utility bills or major capital investments in equipment, machinery, or structures.[4] Notably, many of the costs included as intangible drilling costs are wages, making full deductions the normal tax treatment even without expensing for investments in equipment and machinery. [read post]
28 Jul 2021, 3:50 am
Table of Contents Key Findings Introduction What Is the Tax Gap and What Proposals Are Available? [read post]
22 Jun 2021, 5:55 am
International tax avoidance is commonly defined as the international reallocation of profits by a multinational business in response to tax differences between countries, with the aim to minimize the multinational’s global tax bill. [read post]
17 Jun 2021, 3:55 am
In recent years, countries have adopted several policies to counter companies’ efforts to minimize their tax bills utilizing low-tax jurisdictions. [read post]
25 May 2021, 2:55 am
In California, Illinois, and Minnesota, proposals are circulating to tax GILTI for the first time, while a Massachusetts bill would tax GILTI to a much greater degree. [read post]
17 Mar 2021, 5:55 am
Again, the $1 tax bill would leave $9 in after-tax profit. [read post]
1 Dec 2020, 1:55 am
The Remaining Extenders Many of the remaining extenders were originally designed to phase out, often because they were part of temporary bills like the stimulus package in response to the Great Recession.[7] In 2015, Congress made 19 of the more popular (and in some cases, better designed) extenders permanent and left 34 temporary.[8] Since then, Congress has created additional temporary tax policy, including several components of the TCJA, and permanently repealed others, such as the taxes… [read post]
18 Sep 2020, 8:43 am
Key Findings State tax collections declined 5.5 percent in FY 2020 according to new Census data, though actual losses are likely to be significantly lower after accounting for the shifting of income tax collections into the current fiscal year due to delayed tax filing deadlines. [read post]
11 Aug 2020, 9:55 pm
., and the UK amounted to more than 3 percent of GDP.[1] Those countries and others have moved on from the initial response to longer-lasting fiscal support measures, with both Germany and the UK relying on temporary VAT reductions to provide relief.[2],[3] France and Greece are exploring tax cuts that would provide relief to businesses (in the case of France) and benefits to individuals looking to relocate (in the case of Greece).[4],[5] In response to the sizable budget deficits that countries are… [read post]
9 Jul 2020, 7:13 am
The following comments were submitted to the Office of the United States Trade Representative regarding docket number USTR-2019-0009. [read post]
7 May 2020, 2:55 am
Key Findings The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided economic relief to businesses in part by modifying net operating loss (NOL) deduction rules, expanding NOL carrybacks, and increasing NOL deductibility limits. [read post]
16 Mar 2020, 6:43 am
Maryland’s Senate Bill 2 (and the cross-filed House Bill 965) is concerning in its own right, but also as a harbinger of action in other states. [read post]
