Taxes

Federal Budget Deficit: US Spending & Tax Collections Post-TCJA Skip to content Home • Blog • Another Huge Federal Deficit in Fiscal Year 2024 Despite Surging Corporate and Other Tax Collections The federal government’s budget deficit was $1.8 trillion in fiscal year 2024 (which ended in September), according to preliminary analysis by the Congressional Budget

If you’re a freelancer or a career independent contractor, you’re probably familiar with a W-9 form. As far as tax paperwork goes, it’s one of the better ones because it generally means you’ve won a new client! The form makes it easy to submit all your vital information to the client, so you can start

Blog January 31, 2024September 24, 2024 Tax Foundation Discussion on the Harms of Retaliatory Tax and Trade Policies Historical evidence and recent studies have shown that retaliatory tax and trade proposals raise prices and reduce the quantity of goods and services available to U.S. businesses and consumers, resulting in lower incomes, reduced employment, and lower

Updated for tax year 2024. Ah, the ultimate tax question: What should you do if you owe more taxes to the Internal Revenue Service (IRS) than you can afford? Discovering you owe more tax than expected can leave you feeling defeated. Not getting a tax refund is bad enough, but finding out you owe a

More Competitive EU Tax System: Recommendations | TFE Skip to content Home • Blog • What Does Moving Toward a More Competitive EU Tax System Mean? “There are two kinds of European nations. There are small nations and there are countries that have not yet realized they are small nations.” This quote by a former

US Economy vs Chinese Economy: Bolster US Economic Growth Skip to content Table of Contents Key Findings Competition with China has become a key theme of American politics. One crucial aspect of that competition is aggregate economic growth. One policy lever that affects aggregate economic growth (among many) is the structure of the corporate taxA

Brazil Alcohol Tax System Reform | Tax Foundation Skip to content Home • Blog • Brazil Proposes Major Overhaul of Its Alcohol Tax System The Brazilian government is poised to make the biggest change to its alcohol taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or

Oregon Measure 118 State Budget Cost: $2 Billion Skip to content Home • Blog • Oregon Measure 118 Is an $8 Billion Tax Increase That Raids $2 Billion from the State Budget Oregon Measure 118 would raise $8 billion a year in its first full year, and nearly $10 billion a year within five years

Trump Tariffs Would Raise Rates to Great Depression-Era Levels Skip to content Home • Blog • Trump’s Tariff Proposals Would Raise Tariff Rates to Great Depression-Era Levels Former President Donald Trump’s proposals to impose a universal tariff of 20 percent and an additional tariffTariffs are taxes imposed by one country on goods or services imported

North Dakota Repeal Property Taxes Measure 4 Skip to content Home • Op-eds • Before Repealing the Property Tax, Look Under the Hood Imagine never again receiving a property taxA property tax is primarily levied on immovable property like land and buildings, as well as on tangible personal property that is movable, like vehicles and

Vice President Kamala Harris has touted a new economic plan to drive “broad-based economic growth,” but her policies contradict this message. Her narrowly targeted America Forward tax credit for “industries of the future” and taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover

Sports Stadium Subsidies: Taxpayers Shoulder a Heavy Burden Skip to content Home • Blog • Taxpayers Shoulder a Heavy Burden for Sports Stadium Subsidies State and local governments spend significant sums for the construction, operation, and continued maintenance of sports stadiums and arenas. According to recent estimates by sports economists, “between 1970 and 2020 state