Americans will spend 6.9 billion hours complying with IRS tax filing and reporting requirements in 2026, costing about $387 billion in lost productivity. Including an additional $157 billion in out-of-pocket costs, complying with the federal tax code will cost Americans more than $544 billion this year, over 1.7 percent of GDP.
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Many states levy taxes on liquids on a per-barrel basis. However, some states define a “barrel” differently than the standard measurement. The landscape of unharmonious units creates complexity and compliance costs for businesses that must pay these taxes in multiple states.
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The European Union’s revised Tobacco Excise Directive (TED) is the latest proposal from Brussels that raises questions about the role that the EU plays in relation to the Member States.
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With much of the continent celebrating Oktoberfest, it is a great time to examine beer taxes across Europe. Hefty beer taxes increase the price consumers pay for their libations.
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Expensing for capital investment is not a special tax break. Expensing aligns the timing of tax deductions with the timing of actual capital expenditures so that the tax code does not discourage marginal investment projects.
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The US federal government faces several fiscal challenges in the coming decades, including the growing burden of federal healthcare programs and tax preferences.
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The “no tax on” deductions show the drawbacks of using narrowly tailored provisions to provide tax relief.
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On September 15th, Canada announced that full expensing for machinery, equipment, and patent rights will be made permanent and broadened from around 15 percent to two thirds of business capital investment.
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Oral nicotine pouches have rapidly become a popular option for consumers who want nicotine without the harmful combustion and chemicals of traditional cigarettes. As these alternative nicotine products (ANPs) successfully draw smokers to non-combustible nicotine consumption, many states have scrambled to incorporate these new products into their tax regimes.
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While economic levers like sanctions and tariffs have long been recognized as geoeconomic tools, tax policies have rarely been considered a part of this toolkit.
36 min read