Items tagged with tax:
News & Updates:
President Trump focused on his vision for tax reform in a speech on Wednesday. Rather than issuing concrete plans, the president discussed “bringing back Main Street,” as well as middle class tax cuts. The Bloomberg Consumer Comfort Index rose to a sixteen year high.
Imagine receiving a monthly check from the federal government that covers all your basic expenses. Think food, shelter, clothing. What would you do? Would you take that leap of faith to be the entrepreneur you’ve always dreamt of being? Take on another professional challenge you’ve eyed for the last twenty years but never pursued because it presents too much of a financial risk? Or would you grow lazy, spending your days on the couch watching reruns of the latest hit Netflix series?
Last month, the Alaska Legislature narrowly avoided a government shutdown after months of gridlock and frustration by approving a nearly $9 billion operating budget for the upcoming fiscal year.
Border Adjustment – politicians on both sides of the aisle have lobbied the term back and forth, representing it both as a cure to America’s broken tax code and as an “idea so stupid that only an intellectual would believe [it].”  With House Republicans promising a comprehensive tax reform package by 2018, it is important to understand the fundamentals of the proposal.
Democrats in the Senate laid out their plan for reforming the U.S. tax system. Senators from both parties also introduced an Internet of Things cybersecurity bill. European manufacturing is on a tear as U.S. spending slows and the dollar continues to slide.
November 3rd, 2017
1:00pm - 2:30pm:
Taxation, Competitiveness, and Corporate Inversions
A wave of corporate inversions over the past several years has generated substantial debate in academic, business, and policy circles. The core of the debate hinges on a couple of key economic questions: Do US tax laws disadvantage US-domiciled companies relative to their foreign competitors? And, if so, does inversion reduce or eliminate that tax disadvantage, and increase the competitiveness of US multinational firms for making investments both abroad and at home? This seminar will address these questions and their implications for tax reform discussions, drawing insight from newly published research.
American Petroleum Institute: Motor Fuel Taxes
The American Petroleum Institute (API) is the only national trade association that represents all aspects of America’s oil and natural gas industry. Here is a summary report on gasoline and diesel taxes. This report is updated quarterly. API collects motor fuel tax information for all 50 states and compiles a report and chart detailing changes and calculating a nationwide average.
Government Accountability Office: Tax Policy and Administration
The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for Congress. Often called the “congressional watchdog,” GAO investigates how the federal government spends taxpayer dollars. GAO supports congressional oversight by:
• auditing agency operations to determine whether federal funds are being spent efficiently and effectively;
• investigating allegations of illegal and improper activities;
• reporting on how well government programs and policies are meeting their objectives;
• performing policy analyses and outlining options for congressional consideration; and
• issuing legal decisions and opinions, such as bid protest rulings and reports on agency rules.
Quick link to Tax Policy and Administration Reports: http://www.gao.gov/browse/topic/Tax_Policy_and_Administration
Internal Revenue Service: Tax Statistics
Find statistics on business tax, individual tax, charitable and exempt organizations, IRS operations and budget, and income (SOI), as well as statistics by form, products, publications, papers, and other IRS data.
Quick link to Tax Statistics, where you will find a wide range of tables, articles, and data that describe and measure elements of the U.S. tax system: http://www.irs.gov/uac/Tax-Stats-2
Sales Tax Institute
Quick link to Resources page where you can find updated (and some historical) information regarding sales tax rates by state, sales tax holidays, sales tax amnesty programs: http://www.salestaxinstitute.com/resources
Tax Policy Center
The Tax Policy Center is a joint venture of the Urban Institute and Brookings Institution. The Center is made up of nationally recognized experts in tax, budget, and social policy who have served at the highest levels of government.
The Tax Policy Center estimates the revenue and distributional impact of tax proposals using a state-of-the-art microsimulation model of the federal tax system. Our searchable database includes distribution tables that show how proposals alter tax liabilities and after-tax income, by dollar income class and by percentiles of the income distribution. We also periodically estimate the distribution of various federal taxes under current law, show how recent tax changes have altered that distribution, and examine other important issues such as the impact of the individual alternative minimum tax (AMT) and the distribution of the estate tax under current law and alternative policy options.
Quick link to TPC’s Tax Model: http://www.taxpolicycenter.org/numbers/index.cfm