Business Tax Expenditures, Credits, and Deductions

Senators Introduce Legislation to Fix the Retail Glitch

Lawmakers Introduce Another Tax Extenders Bill

Amortizing Research and Development Expenses Under the Tax Cuts and Jobs Act

Expensing, or the immediate write-off of R&D costs, is a valuable component of the current tax system. The TCJA’s change to amortization in 2022, requiring firms to write off their business costs over time rather than immediately, would raise the cost of investment, discourage R&D, and reduce economic output.

Tax Extenders Could Return from the Grave Mid-Filing Season

Lawmakers Start the New Year with a Long Tax Policy To-Do List

Tax Expenditures Before and After the Tax Cuts and Jobs Act

South Carolina: A Road Map For Tax Reform

South Carolina is by no means a high tax state, though it can feel that way for certain taxpayers. The problems with South Carolina’s tax code come down to poor tax structure. Explore our new comprehensive guide to see how South Carolina can achieve meaningful tax reform.

2019 Tax Brackets

The IRS recently released its 2019 individual income tax brackets and rates. Check out the new standard deduction, child tax credit, earned income tax credit, rates and brackets, and more.

The Retirement, Savings, and Other Tax Relief Act of 2018

Lessons from the Amazon HQ2 Tax Break Race

Congress Should Put Tax Extenders to Rest

Cost Recovery Treatment Short of Full Expensing Creates A Drag on Economic Growth

Full expensing is a key driver of future economic growth, and can have a larger pro-growth effect per dollar of revenue forgone than cutting tax rates.

The Ways and Means Committee Passes Tax Reform 2.0

State Tax Implications of Federal Tax Reform in Virginia

Virginia has an opportunity to improve its tax competitiveness following the Tax Cuts and Jobs Act. Inaction will result in higher taxes.

The Complicated Nature of the Deductibility of Drug Advertising

New Letter Says the “Retail Glitch” is Discouraging Business Investment

Retail groups sent a letter to Congress explaining that the “retail glitch” in the Tax Cuts and Jobs Act would discourage business investment.

Highlights from the New JCT Tax Expenditure Report

How have federal tax expenditures changed since passage of the Tax Cuts and Jobs Act? We compare 2017 and 2018 Joint Committee on Taxation estimates.

IRS to Issue Guidance Clarifying Viability of SALT Deduction Cap Workarounds

Is Every Tax Cut Kansas?

States Can’t Just Hit Pause on Implications of Federal Tax Reform

The new federal tax law left states with some important decisions to make. If they delay, their residents could face confusion come filing time.