Tax on high-cost health plans starting in 2020 Under the Affordable Care Act, employer-sponsored health benefits whose value exceeds specified thresholds will be subject to...
Contrary to popular belief, the mortgage interest deduction was not added to the tax code to encourage home ownership. The deduction existed at the birth...
Many nonprofit institutions are exempt from paying federal income tax, but only organizations set up under Internal Revenue Code section 501(c)(3) qualify their donors to...
Although many nonprofits qualify for tax exemption, only about two-thirds also qualify to receive contributions that donors can deduct on their tax returns. These are...
A charitable contribution is intended for the benefit of those supported by the charitable activity, whether through education, health care, or the like. If the...
How the United States Taxes Foreign-Source Income The federal government taxes US resident multinational firms on their worldwide income at the same rates applied to...
INCENTIVES TO EARN AND REPORT PROFITS IN LOW-TAX COUNTRIES Multinational corporations typically operate overseas through foreign subsidiaries that are mostly taxed as independent corporate entities...
WHAT IS COMPETITIVENESS? Many—really all—politicians favor “international competitiveness,” but the term means different things to different people. To some, it means domestic firms or industries...
HOW FORMULARY APPORTIONMENT WORKS Under formulary apportionment, a multinational corporation would allocate its profits across countries based on its sales, payroll, and capital base in...
Rather than taking a piecemeal approach, making small changes to provisions of the tax code, comprehensive reform would address the inequities, complexities, and inefficiencies of...
The President’s Advisory Panel on Tax Reform estimated how much marginal tax rates could be reduced under a broad-based tax that generated the same revenue...
The President’s Advisory Panel on Federal Tax Reform was created by President Bush in 2005 to recommend options to make the tax code simpler, fairer,...
President Obama tasked the National Commission on Fiscal Responsibility and Reform with recommending ways to bring the federal budget back into balance and to improve...
