Taxes

Did you purchase an electric vehicle (EV) recently? Many EVs, plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles (FCVs) can score you a nice tax break. Let’s see if you qualify and, if so, how to claim this tax credit. What is the electric vehicle tax credit? Officially called the Qualified Plug-In Electric Drive

Property Tax Relief & Reform Options | Tax Foundation Skip to content Table of Contents Key Findings Property values have skyrocketed in recent years, rising almost 27 percent faster than inflationInflation is when the general price of goods and services increases across the economy, reducing the purchasing power of a currency and the value of

Updated for tax year 2024. It happens. You filed your tax return on time, and you planned to forget about taxes for another year … but you just discovered a mistake on your federal tax return. What do you do? Do you file a new return with the Internal Revenue Service and tell them to

US vs China Tax Policy | Tax Foundation Skip to content Home • Blog • What Sets the US and China Apart on Tax? Competition between the United States and China has become a central theme in American policy discussions, from recently enacted legislation like the CHIPS and Science Act to policy recommendations from the

Presented by: Daniel Bunn Will McBride Erica York Sean Bray On November 5th, voters in the US will determine who will control the House of Representatives, the Senate, and the White House and select the leaders who will be in office to steer critical US tax policy decisions. With more than $4 trillion worth of

Harris America Forward Tax Credits: Details & Analysis Skip to content Home • Blog • Harris’s America Forward Plan Should Cover Whole Economy, Not Just Favored Industries The Harris campaign has mostly proposed increasing taxes on businesses and high-income earners. However, the campaign’s new policy document adds a few proposals to reduce taxes on businesses,

Form 1099-QA is tied to your ABLE account, a tax-advantaged savings option for those with disabilities. If you’ve received a distribution from an ABLE account, also called an ABLE program, you’ll get Form 1099-QA. Here’s what this form means and how to report it on your tax return, if necessary. At a glance: Form 1099-QA

2025 State Tax Competitiveness Index | Full Study Skip to content Table of Contents Launch Interactive Tool Preface to the New Edition The study before you, which has been published as the State Business TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover

Form 1099-H was last used for tax year 2021 and was issued to people who received advance payments of the health coverage tax credit (HCTC) to help cover health insurance costs. Let’s break down exactly what this form was all about and how it impacted your income tax return. At a glance: Form 1099-H was

Blog December 4, 2023June 20, 2024 Why Moore v. U.S. Won’t Get Us a Consumption Tax Base At first glance, a ruling for the plaintiffs in Moore might seem to solve some of the timing problems with the U.S. tax system. Unfortunately, upon greater inspection, such a ruling might create new timing problems. And the

You might receive Form 1099-S this year if you sold a house, some land, or another piece of property. But what does this form mean for your income tax return? Don’t worry — we’ll walk you through everything you need to know about this form, why you got it, and how to easily e-file it.

Blog May 15, 2024May 29, 2024 America Should Learn from Successful Universal Savings Policy Across the Pond For U.S. policymakers looking to encourage greater saving and financial security, particularly among low- and moderate-income households facing serious affordability challenges, the experiences in both the UK and Canada indicate that universal savings accounts are an effective policy