Taxes

Updated for tax years 2024 and 2025. If you sell items online or use third-party payment apps such as Venmo® or Cash App®, you’ve probably heard about new IRS reporting thresholds that were supposed to go into effect first in 2022, and then in tax year 2023. These threshold changes understandably caused much confusion among filers.

Louisiana Tax Reform 2024: Details & Analysis Skip to content Home • Blog • Louisiana Now Boasts a More Competitive and Pro-Growth Tax Code Louisiana did something difficult this year, defying the expectations of many: through the work of Gov. Jeff Landry (R) and legislative leaders, it adopted a significant pro-growth taxA tax is a

Form 1120-S is a crucial tax document for small business owners of S corporations. If you’re an S corp owner, understanding how to fill out an 1120-S tax form accurately can help you avoid unnecessary headaches and make the most of your tax situation. Whether it’s your first time filing this form or you just

Skip to content Home • Op-eds • Out-Competing China Starts With The Tax Code December 5, 2024December 5, 2024By: Alex Muresianu Two provisions of the 2017 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

Extending the Tax Cuts: Budgetary Impact Discussion Skip to content Home • Blog • All About That Base(line) If Congress does not act, taxes will rise for millions of Americans on January 1, 2026, as the individual provisions of the TaxA tax is a mandatory payment or charge collected by local, state, and national governments

Interstate Migration and Tax Competitiveness Skip to content Home • Blog • Tax Competitiveness and Interstate Migration Recently, we published our updated and rebranded State Tax Competitiveness Index (STCI), which measures how well states’ taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover

The IRS starts processing your income tax return as soon as they receive it. But how long does it take to receive your tax refund after processing begins? What is the IRS tax refund schedule for tax year 2024? The IRS generally processes e-filed returns and sends refunds to taxpayers in less than 21 days.

Updated for tax year 2024. Starting a new business and keeping it going through its first year is an impressive accomplishment! When you file a federal income tax return for your business, the paperwork and forms the IRS requires you to use depends on your business entity and how your business is organized. Here’s how you’ll

Cigarette Taxes and Cigarette Smuggling by State, 2022 Skip to content Table of Contents Key Findings Excessive 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. rates on cigarettes induce substantial black and gray

If Form 1099-SA showed up in your mailbox or inbox this year, don’t let it scare you. In this guide, we’ll break down what a 1099-SA form is, why you got it, and what you need to do next. By the end, you’ll know exactly how to report it on your income tax return and

If you sold a life insurance policy this year, you may receive Form 1099-SB. This tax form informs you and the Internal Revenue Service (IRS) about the sale or transfer of a life insurance contract. But what does this mean for your taxes? Let’s walk through what the 1099-SB form is, why you received it,

Updated with tax brackets for tax year 2024. Your tax bracket shows you the tax rate that you will pay for each portion of your income. Below, we go over some helpful examples and address myths about how tax brackets work. At a glance: Tax brackets determine the tax rate you pay on each portion