Tennessee State Capitol getty Lawmakers and governors in nearly half of the states have cut income tax rates over the past two years and more are now following suit. Before the second month of 2023 ca...
Tag: tax reform
Rate-Cutting, Flattening Tax Reform Rolls On In Ohio, Wisconsin, Iowa, Kansas And Beyond
Ohio Statehouse in Columbus. getty Legislators in eight blue states kicked off the year introducing a coordinated package of tax hikes targeting upper income households. While that effort attracted co...
2023 Poised To Be A Third Straight Year Filled With State Tax Relief
Income tax cutting legislation continues to be introduced in state capitals. getty Wealth tax legislation introduced in multiple state capitals in late January is noteworthy not only because of the un...
Fair Tax Combines Flawed Policy With Terrible Politics
The United States Capitol building getty Congressional Republicans shouldn’t surprised they’re under attack now that the Fair Tax, a proposal to replace the federal income tax with a 30% national sale...
House Republicans have voted to cut IRS funding
New U.S. Speaker of the House Kevin McCarthy, R-Calif., speaks with reporters in Washington, Jan. 7, 2023. Jon Cherry | Reuters House Republicans on Monday night voted to slash funding for the IRS, fo...
U.S. Businesses Face Higher Federal Tax Bills In 2023 Coupled With State Tax Relief
Federal tax hikes on U.S. businesses take effect at the beginning of 2023, the same time when many … [+] state-level business tax cuts kick in. getty The new year brings higher federal tax burde...
Residents Of These Five States Are Weeks Away From Getting An Income Tax Cut
Income tax cuts take effect in five states in the first month of 2023. Getty Millions of Americans will see their state government take a smaller bite out of paychecks when 2023 begins in a few weeks....
Purple State Governor & 2024 Presidential Prospect Proves He’s No Moderate
President Joe Biden talks with North Carolina Gov. Roy Cooper and EPA Administrator Michael Regan, … [+] after arriving at Raleigh-Durham International Airport. (AP Photo/Susan Walsh) Copyright ...
More States To Join The Flat Tax Club
Boise downtown and Idaho Capitol getty After lawmakers in nearly 10 states enacted income tax cuts in the first half of 2022, a string of special sessions in the second half of the year is resulting i...
Tight Race For GOP Gubernatorial Nomination In Wisconsin, Which Is Once Again A Battleground State In 2022
From left, Rebecca Kleefisch, Tim Michels and Timothy Ramthun participate in a televised Wisconsin … [+] Republican gubernatorial debate Sunday, July 24, 2022, in Milwaukee. (AP Photo/Morry Gash...
Amid Highest Inflation In Four Decades, State Lawmakers Seek To Alleviate Harm
Inflation hit 8.6% in May, the highest inflation rate in more than four decades. getty The Bureau of Labor Statistics Consumer Price Index report released on June 10 showed an inflation rate of 8.6% f...
South Carolina Lawmakers Reach Deal To Cut Income Tax For Millions Of People & Thousands Of Small Businesses
The South Carolina State House getty Governors and lawmakers in 14 states enacted income tax relief last year and eight states have already approved income tax cuts so far this year. South Carolina is...
How The Flat Tax Revolution Of 2022 Was Sparked In North Carolina
Raleigh, North Carolina getty A reporter for WUNC — the NPR member station covering Raleigh, Durham, and Chapel Hill — referred to North Carolina as the “Rip Van Winkle State” during the June 3 episod...
States Continue To Take Steps Toward Income Tax Elimination
Mississippi capitol in Jackson getty Aside from death and taxes, the third certainty in life, at least in 2022, is that states are going to enact income tax relief. That was predicted in this space se...
Meet Erin Collins, National Taxpayer Advocate for the IRS
Erin M. Collins Source: Erin M. Collins If you’re one of the millions of Americans grappling with IRS issues, you may not realize there’s another option for your unresolved problems. The T...
More States Join Income Tax Cut Movement
The South Carolina State House getty Income tax cutting bills continue to sweep through state legislatures in 2022. What’s noteworthy is that they’re doing so in many cases with broad support from bot...
Cash-rich states are slashing taxes amid revenue windfalls
Anchiy | E+ | Getty Images And this year, at least a dozen states have made cuts or are eyeing reductions, including both temporary and permanent measures, according to the Tax Foundation. While the...
What to know before filing business taxes for the first time
In 2021, amid the ongoing pandemic and “Great Resignation,” Americans filed a record 5.4 million applications for new businesses, according to data from the U.S. Census Bureau. That means ...