Economic Relief Plans Around the World During the Coronavirus Outbreak
Countries around the world are implementing emergency tax measures to support their debilitated economies under the coronavirus (COVID-19) threat.
7 min read
Are States Prepared for Skyrocketing Unemployment Insurance Claims?
Unemployment claims are going to tax state unemployment compensation trust funds beyond their limits. We need to start thinking about what to do about it.
5 min read
States Should Follow Federal Lead in Postponing Tax Day
The federal government moved tax day from April 15 to July 15 in response to the coronavirus pandemic, granting more time for both filing and payment. But for many taxpayers, it might not matter much if states don’t follow suit.
3 min read
Lawmakers Concerned that Delay in Tax Filing Deadline Not Fully Understood
The U.S. Treasury Department has pushed the April 15 tax payment deadline to July 15. However, taxpayers still have to file their tax returns by the usual April 15 deadline.
3 min read
For Italian Banks: Converting Future Deductions to Present Tax Credits
During the coronavirus outbreak, Italy has been hit especially hard. Policymakers have introduced numerous measures to stem the spread of the virus and provide relief to businesses that are facing a severe downturn.
2 min readTax Policy to Bridge the Coronavirus-Induced Economic Slowdown
Tax policy can help by giving businesses current access to future tax “assets”—deductions and credits the businesses will be allowed or owed over time any way under current law—instead of making them wait.
5 min read
Tax Policy and Economic Downturns
The Great Recession provides some insight into how tax revenues declined during a deep recession. Across OECD countries, revenues fell by 11 percent from 2008 to 2009 with corporate income taxes seeing the steepest decline at 28 percent. Revenues from individual income taxes fell by 16 percent.
4 min read
How the Federal Government and the States Could Help Save Small Businesses Through Temporary UI Tax Adjustments
Governmental responses to the coronavirus outbreak will require creativity and flexibility—and one aspect of that may involve temporarily rethinking how we structure not only unemployment insurance (UI) benefits but also the taxes that pay for them.
5 min read
Senate Receives Final Version of House Coronavirus Bill Offering Paid Leave
The House bill would provide two weeks of paid sick leave to workers who must quarantine, take care of a family member who is sick with coronavirus, or care for their children whose school or daycare has closed due to the public health emergency.
2 min read