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Mark-to-Market (MTM)

Proposal for Reporting Requirements for Financial Institutions Misses the Mark

Reducing the tax gap is a good idea, but the reporting requirements for financial institutions could be better-targeted at the problem at hand.

What’s Going on with the Child Tax Credit Debate?

President Biden expanded and fundamentally changed the Child Tax Credit (CTC) for one year in the American Rescue Plan (ARP) passed in March 2021. Policymakers are now deciding the future of the expansion as part of the proposed reconciliation package, but a wide range of estimates for the effects of a permanent expansion is confusing the debate.

As Inflation Rises, So Will Tax Bills in Many States

Inflation is often called a hidden tax, but in many states it yields a far more literal tax increase as tax brackets fail to adjust for changes in consumer purchasing power.

International Tax Competitiveness Index 2021

A well-structured tax code (that’s both competitive and neutral) is easy for taxpayers to comply with and can promote economic development while raising sufficient revenue for a government’s priorities.

Wireless with Strings Attached

As of 2020, there were 448 million active cell phone and wireless plans in the U.S. than there were Americans. The taxes on those plans brought in approximately $11.3 billion and constituted a record 24.96 percent of the cost of an average cell phone bill. Explore why cellphone taxes are climbing, the places they’re the highest, the consumers they impact the most, and how things can be improved.

Webinar: Mobile Workforce, Nexus, and Telework

Reviewing How TCJA Impacted Mortgage Interest and State and Local Tax Deductions

Two major provisions in the federal tax code have been limited since the Tax Cuts and Jobs Act (TCJA) of 2017: the state and local tax (SALT) deduction and the home mortgage interest deduction (MID).

Higher Taxes Under House Ways and Means Plan Emphasize Need for Corporate Integration

Under the House Ways and Means plan to raise taxes on corporations and individuals, the integrated tax rate on corporate income would rise to the third highest in the OECD. To reduce this burden, policymakers could explore integrating the individual and corporate tax systems.

Corporate Tax Revenue Hit an All-Time High in 2021

This year’s robust corporate tax collections calls into question efforts by the administration and congressional Democrats to increase the corporate tax rate and raise other corporate taxes based on claims of relatively low tax collections following the Tax Cuts and Jobs Act (TCJA) in 2017.