Taxes

The Short Form: Why Your Tax Refund Is Nothing to Celebrate Skip to content Home • Blog • Why Your Tax Refund Is Nothing to Celebrate This is part of our educational blog series, “The Short Form,” to simplify taxA tax is a mandatory payment or charge collected by local, state, and national governments from

Virginia Sales Tax Reform Proposal: B2B Digital Services Skip to content Home • Blog • Virginia Considers Expanding Its Sales Tax Base to B2B Digital Services What is the difference between good and bad taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover

Medicare & Social Security Tax Options for Sustainability Skip to content Home • Blog • Sustainably Reforming Social Security and Medicare Will Need More than Just Tax Hikes The Congressional Budget Office’s (CBO) latest forecast shows a key driver of ongoing federal deficits is the growth in Social Security and Medicare. Political disagreement over the

Wealth Taxes in Europe, 2024 | Tax Foundation Skip to content Net wealth taxes are recurrent taxes on an individual’s wealth, net of debt. The concept of a net wealth taxA wealth tax is imposed on an individual’s net wealth, or the market value of their total owned assets minus liabilities. A wealth tax can

The Fatal Flaw of Pillar Two (Global Minimum Tax) | Tax Foundation Skip to content Home • Blog • The Fatal Flaw of Pillar Two Pillar Two, the international global minimum taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of

Biden Administration’s Approach to Defining “American” Companies Skip to content Home • Blog • The Biden Administration’s Misguided Approach to Defining “American” Companies What does it mean to be an American company? Recently, U.S. Trade Representative Ambassador Tai questioned whether being headquartered in the U.S. is sufficient for a company to be American or whether

Retirement Savings & Investment Tax Treatment | Tax Foundation Skip to content Table of Contents Key Findings On average, in the Organisation for Co-operation and Development (OECD) and select European Union countries, long-term capital gains from the sale of shares are taxed at a top rate of 18.78 percent, and dividends are taxed at a

2024 State Income Tax Rates and Brackets | Tax Foundation Skip to content Table of Contents Key Findings Individual income taxes are a major source of state government revenue, constituting 38 percent of state taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover

Proposed “Junk Fee” Rule Would Create Tax Headaches Skip to content Home • Blog • Proposed “Junk Fee” Rule Would Create Inadvertent Tax Headaches Sellers in some states could soon be simultaneously required and prohibited from publishing sales taxA sales tax is levied on retail sales of goods and services and, ideally, should apply to

Tax-Free Savings Accounts (TFSA) Are a Huge Success in Canada Skip to content Home • Blog • Canada’s Tax-Free Savings Accounts Are a Huge Success. U.S. Lawmakers Should Take Note For most Americans, saving is a taxing experience. The most readily available option is to put money away in a savings or brokerage account and

2024 Personal Income Tax Rates in Europe | Tax Foundation Skip to content Table of Contents Most countries’ personal income taxes have a progressive taxA progressive tax is one where the average tax burden increases with income. High-income families pay a disproportionate share of the tax burden, while low- and middle-income taxpayers shoulder a relatively

US Deficit: CBO Budget & Economic Outlook: 2024 to 2034 Skip to content Home • Blog • Major Takeaways from CBO’s Updated Long-Term Outlook Last week, the Congressional Budget Office (CBO) released an updated Budget and Economic Outlook. The report (released annually) presents the agency’s current projections of major fiscal and economic trends for the

Blog March 17, 2023October 12, 2023 Temporary Full Expensing Arrives in the UK The UK’s adoption of full expensing is a welcome step that may generate short-run economic benefits. However, for the reform to have a meaningful effect on the UK’s international competitiveness and long-run economic performance, it must be made permanent—which the British government

Flat Tax Revolution: State Income Tax Reform | Tax Foundation Skip to content Home • Blog • The State Flat Tax Revolution: Where Things Stand Today Latest Updates Updated to reflect the implementation of structural changes in several states. Updated to reflect recent state tax policy developments. Originally published. See Full Timeline In the first

US Pandemic Response Impact on Inequality & Progressivity Skip to content Home • Blog • New CBO Report Shows Pandemic Response Sharply Reduced Inequality, Increased Progressivity in 2020 The pandemic led to one of the largest fiscal responses in U.S. history, impacting households across the income distribution. A new report from the Congressional Budget Office

Remote Work Tax Issues This Tax Season | TaxEDU Skip to content Home • Blog • How Are Remote and Hybrid Workers Taxed? This is part of our educational blog series, “The Short Form,” to simplify taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses

Tax Foundation Europe Launches Skip to content Home • Blog • Tax Foundation Europe Launches Website and Prepares Brussels Office The landscape of taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. policy is

DC Tax Revision Commission Recommends Major Tax Changes Skip to content Home • Blog • D.C. Tax Revision Commission Recommends Major Tax Changes On January 5, the D.C. TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services,

Corporate Tax Cuts: Effects on Workers/ Wages | Tax Foundation Skip to content Home • Blog • Don’t Ignore the Long Run When Evaluating Corporate Tax Cuts Do corporate taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government

Belgium EU Presidency Tax Files: Details & Analysis Skip to content Home • Blog • Tax Files under New Council of EU Presidency: Belgium On 1 January 2024, Belgium took over the six-month rotating presidency of the Council of the European Union from Spain. In a presidency that will be heavily influenced by national and