The Biden administration is likely to dramatically change its approach to tax policy, with the first step in the stimulus package it began pushing through Congress this month.
Read More »Category Archives: Tax rates
Feed SubscriptionSales tax rates reached 10-year high in 2020
The combined average sales tax rate across the country grew to levels not seen in a decade last year, enabling states to collect more tax revenue from online sales.
Read More »Progressives face headwinds in drive for tax hikes
Among other things, an evenly divided Senate represents a significant hurdle.
Read More »Senate runoffs complicate year-end tax planning
The outcomes of two elections in Georgia that are scheduled for Jan. 5 are expected to determine the balance of power in the Senate and may also have an impact on the kind of tax planning that accountants should be ...
Read More »Tax Strategy: Post-election tax planning
Biden’s win brings some clarity, but the uncertain state of the Senate leaves questions.
Read More »Stimulus and McConnell will likely inhibit Biden’s tax plan
The president-elect’s pledge to repeal President Donald Trump‘s tax cuts as soon as he is inaugurated may be stymied for the foreseeable future.
Read More »IRS adjusts tax item amounts for 2021 due to inflation
The Internal Revenue Service issued its annual inflation adjustments Monday for tax year 2021, revising more than 60 tax provisions, including tax rate schedules, standard deduction amounts and more.
Read More »Corporate execs concerned about taxes going up under Biden
C suite executives are far more concerned about changes in corporate tax policy during a Biden administration than if Trump is re-elected.
Read More »Wolters Kluwer, Thomson Reuters predict IRS inflation adjustments
Wolters Kluwer Tax & Accounting and Thomson Reuters Checkpoint have released their predictions for the expected annual inflation adjustments from the Internal Revenue Service for various tax-related items.
Read More »N.J. governor, lawmakers agree to raise tax on millionaires
New Jersey Governor Phil Murphy and Democratic legislative leaders have agreed on a budget deal that will raise taxes on millionaires to fund rebates for about 800,000 middle-class households.
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