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Business Tax Expenditures, Credits, and Deductions

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States Lose When Credit Unions Acquire Banks

States Lose When Credit Unions Acquire Banks

A tax preference originally designed to level the playing field now has the opposite effect, creating preferences for one class of financial institutions even though the distinctions between credit unions and banks are increasingly blurred.

6 min read
2025 state nonresident income tax filing laws and thresholds by state

Nonresident Income Tax Filing Laws by State, 2025

One area of the tax code in which extreme complexity and low compliance go hand-in-hand—and where reform is desperately needed—is in states’ nonresident individual income tax filing and withholding laws.

7 min read
Taxing Life Insurance Tax

Taxing Life Insurance

As Congress attempts to prevent the expiration of major Tax Cuts and Jobs Act provisions, it needs to find ways to pay for them. Ideally, it should use the least economically harmful means possible.

3 min read

The Global Tax Deal, Tax Cuts, and Tariffs—5 Major Tax Debates

What are the biggest tax stories shaping policy today—and what do they mean for you? In our 100th episode, we break down the five biggest tax stories, from the global tax deal to the looming expiration of the Tax Cuts and Jobs Act. 

Wyden 199a pass-through deduction proposal Democrats proposed to expand child tax credit as part of covid relief package. Analysis of the “SALT Act” state and local tax deduction cap, Restoring Tax Fairness to States and Localities Act, SALT cap repeal, eliminate SALT cap

Growth Should Be a Key Consideration if Corporate SALT Is Limited

Lawmakers should prioritize pro-growth tax policies and use the least economically damaging offsets to make the legislation fiscally responsible. If lawmakers choose to use C-SALT, they should carefully consider the economic trade-off with permanent, pro-growth tax cuts that support investment and innovation in the US.

7 min read
Inflation Reduction Act IRA repeal and reforms

Four Paths for Inflation Reduction Act Reforms

The Inflation Reduction Act (IRA) introduced a series of new targeted tax breaks, many of which seem to be much more expensive than originally forecasted. Understandably, repealing these subsidies is a key option for policymakers looking to pay to extend the expiring broader tax cuts passed in the Tax Cuts and Jobs Act (TCJA).

7 min read
2025 Tax Reform TCJA Offsets Budget Offsets

Picking the Right Budgetary Offsets Key to Tax Reform Success

In a perilous economic and fiscal environment, with instability created by Trump’s trade war and publicly held debt on track to surpass the highest levels ever recorded within five years, a lot rides on how Republicans navigate tax and spending reforms in reconciliation.

6 min read
Oklahoma tax reform options 2025 OK tax reform

Pro-Growth Tax Reform for Oklahoma, 2025

Lawmakers should finish the work they have begun over the past few decades, tackling tax rates and structures to give the state a leg up in an era of enhanced competition.

84 min read

Understanding the Property Tax

With property tax bills on the rise, homeowners are searching for answers—and some even want to abolish the tax altogether. In this episode, we break down why property taxes are increasing, common but flawed solutions, and why the property tax remains an economically efficient revenue source.

Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two methods of inventory accounting used for both financial accounting and tax purposes

The Role of LIFO in the Tax Code

While LIFO is rarely the main focus of the overall tax policy debate, it is a sound structural piece of the tax code. LIFO comes close to matching the economic ideal while still remaining true to the accounting principle.

15 min read