Yesterday, the governor of Puerto Rico announced that his government’s $72 billion of debts are not payable, in advance of $1.92 billion in debt service payments due on Wednesday. This announcement follows over a year...
- Total Federal Income Tax Compliance Costs, 1990-2015
Total Federal Income Tax Compliance Costs, 1990-2015
Introduction Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called “bracket creep.” This is the phenomenon by which people are pushed into higher income tax brackets or have...
After years of slow economic growth and a burgeoning tax code, many in Congress and elsewhere have recognized that now is the time for tax reform. Unfortunately, the political process is often at odds with reform, because it tends to protect the...
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