The recent runup in oil prices and general inflation have boosted tax benefits from the “last-in, first-out” (LIFO) inventory accounting tax break. LIFO tax expenditures,...
Debates about corporate income tax cuts follow a familiar script. Republicans claim that rank-and-file workers benefit . Democrats argue that affluent shareholders reap the gains...
West Virginia Senator Joe Manchin set off environmentalists last week when he said tax credits to subsidize the purchase of electric vehicle (EV) tax credits...
President Biden’s 2023 budget would replace the current 10 percent base erosion anti-avoidance tax (BEAT) on US subsidiaries of foreign corporations with a 15 percent...
Just as state governors and legislators are figuring out how to spend their unexpected budget surpluses, global events could wipe out much of those gains...
The Internal Revenue Service has limped through yet another tax filing season, reduced to plugging staffing holes in customer service and returns processing by shifting...
State and federal lawmakers are debating an extraordinary range of often-contradictory energy-related tax changes. These inconsistencies have existed for years, but they rarely have been...
A funny thing happened to the trillions of dollars of proposed tax increases on corporations and high-income households that were high on the agendas of...