Taxes

Updated for tax years 2021 and 2022. If you have a story, inspiration, or anything else you want to tell the world, there’s never been a better time to do it. It’s easier than ever before for authors to self-publish their work and get paid. The traditional publishing gatekeepers can’t stop you now! There are
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Updated for tax year 2021. You have plenty of expenses while your children are young. Fortunately, some of those expenses can directly or indirectly turn into tax credits and exemptions that may mean big savings on your tax bill. Take a look at the following tax benefits to see which ones could be beneficial for
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The Tax Foundation respectfully submits comment on the state tax and revenue implications of the proposed tobacco product standard for menthol in cigarettes. Alongside the intended consequence of limiting sales of menthol cigarettes, menthol cigarette prohibition will have a significant impact on state revenue collections, in excess of the losses associated with individuals who respond
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Updated for tax year 2021 The Child Tax Credit (CTC) underwent some hefty changes in 2021: Max credit amount: The credit’s maximum amount increased from the original $2,000 per child to up to $3,000 per qualifying child age 6-17 and up to $3,600 for children ages 5 and under in 2021. Child’s age: Children ages 17 and
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Inheritance tax dates to the Roman Empire, which collected 5 percent of inherited property to pay soldiers’ pensions. Today, the practice of inheritance tax is widespread. The majority of European countries covered in today’s map currently levy estate, inheritance, or gift taxes. These countries are Belgium, Bulgaria, Croatia, the Czech Republic, Denmark, Finland, France, Germany,
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One of the hardest parts about doing your taxes? Waiting for that refund to hit your bank account. If you’re expecting a tax refund this year, here’s how you can check on the status of your refund — and when you can expect to have that cash in hand. Ways to check the status of
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Congress is hammering out the details of legislation designed to make the U.S. more competitive with China. Any package to incentivize further R&D should begin by ending the current tax penalty against it.   While the House and Senate-passed versions of the competitiveness legislation differ, they would support American semiconductor manufacturing, increase public funding for
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In light of high inflation and rising prices, the Biden administration announced it’s considering dropping its current tariffs on Chinese imports to ease inflationary pressures. The tariffs have indeed hurt both U.S. industry and workers. Another consequence of the U.S. imposed tariffs is that they invited retaliatory tariffs, primarily from China, on U.S. exports. Retaliatory
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