Federal Tax

Recently, the Internal Revenue Service (IRS) published its annual Country-by-Country Report, providing detailed statistics on profits and taxes of multinational enterprise groups headquartered in the U.S. by major geographic region and taxing jurisdiction. This data provides important information on a subset of U.S. multinationals that can inform the ongoing debate on the taxation of multinational
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Presidential candidate and Sen. Michael Bennet (D-CO) released a plan, which he calls his “Real Deal,” with $6 trillion in various initiatives and programs—including universal pre-K, paid family and medical leave, and a public healthcare option—to be funded by several tax increases. These tax increases include new levies, as well as repeals of certain changes
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In a last-minute deal, lawmakers have agreed to revive several expiring tax breaks, including many that have been gone for nearly two years. Unfortunately, this deal represents the worst of tax policy, continuing the tradition of retroactive and temporary extensions rather than answering the question of which provisions deserve permanent status. The year-end tax deal
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The wealth tax has been pushed to the forefront of tax policy debates to combat wealth inequality. Presidential candidates Senator Elizabeth Warren (D-MA) and Senator Bernie Sanders (I-VT) both released proposals to tax the rich as part of their 2020 platforms. Senator Warren’s tax plan features a wealth tax rate of 2 percent each year
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Tonight’s Democratic Debate in Atlanta will see the remaining 10 candidates argue that they are the best choice as their party’s nominee in the 2020 presidential election. The candidates currently in the top 4 polling positions—former Vice President Joe Biden, Senators Elizabeth Warren (MA) and Bernie Sanders (I-VT), and South Bend Mayor Pete Buttigieg—have all
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On a yearly basis the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called “bracket creep,” when people are pushed into higher income tax brackets or have reduced value from credits and deductions due to inflation, instead of any increase in real income. The IRS used to
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