Taxes

Both taxpayers and the IRS sometimes face challenges when filing and processing federal tax returns. To help you out, here are five tips that will help you avoid delays and ensure a smoother tax filing process for both sides. Tips to help you avoid delays while filing taxes 1. Collect all tax documents before filing.

Options to Offset Tax Cuts: Tax Credits, Tax Expenditures Skip to content Home • Blog • Cleaning Up the Tax Code Could Raise Trillions for Tax Reform Key Points Preferences in the taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs

Tax Season: Another Reminder That Our Tax Code Is Too Complex Skip to content Home • Op-eds • Tax Season Is Another Reminder That Our Tax Code Is Too Complex The 2025 US taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the

“No Tax on Tips” Could Backfire | Op-Ed Skip to content Home • Op-eds • How “No Tax on Tips” Could Backfire Just over a week into his second presidency, Donald Trump is moving at breakneck speed, signing executive orders and implementing ambitious policy reversals that could have transformative effects. Amid this blizzard of activity,

State Sales Tax Rates Five states forego statewide sales taxes: Alaska, Delaware, Montana, New Hampshire, and Oregon. Of these, only Alaska allows localities to impose local sales taxes. California has the highest state-level sales tax rate, at 7.25 percent.[1] Four states tie for the second-highest statewide rate, at 7 percent: Indiana, Mississippi, Rhode Island, and

The EU’s Questionable VAT Policy Skip to content Home • Blog • The EU’s Questionable VAT Policy According to the latest “VAT Gap” report published by the European Commission, value-added 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

Economic Nexus: Utah, New Jersey Online Sales Tax Reform Bills Skip to content Home • Blog • New Jersey and Utah Are Latest States to Consider Reforming Economic Nexus It comes as little surprise to anyone following state taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals

Both the Internal Revenue Service (IRS) and the state of California have granted tax relief for recent wildfire victims in southern California. If you were impacted by the fires in Los Angeles County, this gives you more time to file your 2024 income tax return and make any necessary tax payments. Let’s break down what

German Election: International Tax & Trade Policy Implications Skip to content Home • Blog • Transatlantic Tensions: What the German Election Could Mean for International Tax & Trade Policy After the collapse of the German government coalition in November 2024, a new federal election will take place on 23 February. Unlike German elections of the

Updated for tax year 2024. Your wedding day is one of the most exciting and memorable days of your life. It makes all the hectic planning leading up to the big day well worth it. As you walk down the aisle to say, “I do,” you probably aren’t thinking about your income taxes. But, your

Taxing Endowments: Revenue Analysis of an Endowment Tax Skip to content Home • Blog • New Efforts on Taxing Endowments Raise Questions on Neutrality and Revenue Collection Republican policymakers in Congress are considering options to raise revenue as part of their expected legislative package in 2025. That package will tackle a wide variety of priorities,

Updated for tax year 2024. If you recently got married or are thinking about tying the knot soon, it’s never too early to start thinking about the tax implications of marriage. Many times, getting married and filing jointly with your spouse can bring some nice tax advantages along with it. At a glance: Filing jointly

State Income Taxes on Nonresidents: Remote Work & Hybrid Work Skip to content Table of Contents Key Findings Five years after the start of the COVID-19 pandemic, remote and hybrid work has become a way of life for many Americans. Even occasional remote or hybrid work, or work-related travel, triggers nonresident individual income taxAn individual

Tax season is here, and unfortunately, so are scammers. The Treasury Inspector General for Tax Administration (TIGTA) recently issued a new warning for 2025 about text messages impersonating the IRS. Here’s what you need to know to avoid this new tax scam and protect your tax information. Context: The IRS Recovery Rebate Credit announcement Scammers

EU Distributed Profits Tax? | EU 28th Regime Tax Plans Skip to content Home • Blog • Distributed Profits Taxation Would Be a Good Role Model for the EU’s 28th Regime In a recent speech at the Davos Economic Forum, European Commission President Ursula von der Leyen announced plans to create a single set of

Permanent Bonus Depreciation: Expensing Reform Options Skip to content Home • Blog • Expensing: It Pays to Be Permanent As lawmakers work through the reconciliation process, permanently enacting improvements to deductions for capital investment and research and development (R&D) costs will create an economically powerful package. On the other hand, if lawmakers give in to

Updated for tax year 2024. As the baby boomer generation ages, more taxpayers are handling estate and trust taxes for the first time. According to Accounting Today, the number of income tax returns for estates and trusts (Form 1041) increased by 14.9% between 2020 and 2021. But for many of us, handling taxes for an estate or trust

The EU countries with the highest standard VAT rates are Hungary (27 percent), Finland (25.5 percent) and Croatia, Denmark, and Sweden (all at 25 percent). Luxembourg levies the lowest standard VAT rate at 17 percent, followed by Malta (18 percent) and Cyprus, Germany, and Romania (all at 19 percent). The EU’s average standard VAT rate

Notable State Corporate Income Tax Changes for 2025 Louisiana Louisiana’s corporate income tax rate was cut to 5.5 percent as of January 1, 2025, via House Bill 2, adopted in special session in late 2024. The bill also eliminated several distortionary exemptions. Previously, the state had a three-bracket system with rates ranging from 3.5 percent

Arkansas Remote Work Tax Reform Modernization Skip to content Home • Blog • Enhancing Arkansas’s Safe Harbor for Remote Work Employees: A Step Toward Modernization and Reform Arkansas has improved its state taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs