What are tax extenders? Q.What are tax extenders? A.Several dozen tax breaks are authorized for only a limited number of years. When these temporary provisions are scheduled to expire, they become collectively known as the “tax extenders” because lawmakers likely will consider extending most or all of them. Recently these extensions have often been retroactive, taking place well after the provisions officially expired. The temporary-but-not-temporary character of these provisions complicates tax policy and budgeting. Read more about What are tax extenders?
Who bears the burden of federal excise taxes? Q.Who bears the burden of federal excise taxes? A.Workers, owners of capital, and households that consume a disproportionate amount of taxed items all bear the burden of federal excise taxes. Read more about Who bears the burden of federal excise taxes?
What is a broad-based income tax? Q.What is a broad-based income tax? A.One that minimizes tax preferences with the goal of increasing revenue at a given rate of taxation. Read more about What is a broad-based income tax?
