cigarette tax

: TaxVox

Deals, Deferrals, and Saving

The GOP is putting the finishing touches on the first budget resolution in a decade. The Hill reports that an agreement could be voted on by the end of the week. The Associated Press reports that the final resolution will reportedly drop the House provision to move part of Medicare to a premium-

April 28, 2015Renu Zaretsky

: TaxVox

You Can’t Always Get What You Want, But If You Tax Sometimes…

Taxes are going up in the Windy City… again. The Chicago city council is about to approve a $62.4 million tax hike on everything from parking and auto leases to cable TV and tickets to live sports and entertainment. Yesterday, the City Council’s finance committee approved a host of targeted

November 11, 2014Renu Zaretsky

: TaxVox

Income Inequality and Time for State Action

Income inequality may shrink state tax revenues. A new report from Standard & Poor’s tells the tale. Incomes have grown rapidly among the wealthy, but have barely kept pace with inflation for many others. But high income earners both shelter their income from taxes and save more, reducing state

September 16, 2014Renu Zaretsky

: TaxVox

The ACA, Extenders, and More Swiss Banks

Employers can’t “dump” their employees in ACA exchanges. Some large employers hoped to offer tax-free cash to employees to help them pay Affordable Care Act insurance premiums, a cheaper alternative to covering workers directly. But the IRS ruled against that . The penalty for doing so could cost

May 27, 2014Renu Zaretsky