Among active C-corporations in 2019, manufacturing businesses represented 4% of all tax returns filed but paid nearly 27% of total corporate income tax after credits.
The federal government invests more than $500 billion annually in children through direct cash payments, including tax credits, and in-kind goods such as childcare, education, food subsidies, and healthcare coverage. This represents about 10 percent of the federal budget. Research shows these
It’s been two years since the expiration of the expanded child tax credit (CTC), a temporary provision of the American Rescue Plan that effectively provided...
Taxes provided less than 66% of state and local own-source revenue in 15 states in FY 2021. These states generally relied more on charges, such as tuition, public hospitals payments, and highway tolls.
This comment letter to the US Senate Finance Committee addresses the tax treatment of cryptocurrency staking. Stakers validate blockchain transactions and receive compensation for that work in the form of more cryptocurrency tokens. They should pay ordinary income taxes on the rewards they receive
Table shows the tax benefit of the itemized deduction for state and local taxes under current law plus the increase in the standard deduction proposed...
Table shows the tax benefit of the itemized deduction for state and local taxes under current law plus the increase in the standard deduction proposed...
As states navigate an uncertain fiscal future , a lot of budget commentators will justifiably note that nearly every state cut taxes during the last few revenue boom years. But most states also stocked a lot of money into their savings accounts over the past three years – and this may help them weather forthcoming budget storms.
Distribution of tax benefits by expanded cash income percentile from extending eligibility for the EITC for non-dependent workers who do not live with qualifying children...
Distribution of tax benefits by expanded cash income percentile from extending eligibility for the EITC for workers who do not live with qualifying children to...
Distribution of tax benefits by expanded cash income level from extending eligibility for the EITC for non-dependent workers who do not live with qualifying children...
Distribution of tax benefits by expanded cash income level from extending eligibility for the EITC for workers who do not live with qualifying children to...