People competitive, dispute, contest concept. getty We will be holding a free 30-minute webinar on the use of grantor trusts on Monday, April 10, 2023 at 4:00 PM EST. Please click here to register. I wish to thank Stetson University College of Law students Jason McCosby and Peter Farrell for their assistance in writing this...Read More

Younger and healthier Brits have created a $17.1 billion budget hole by smoking and drinking less. That’s great news.   Excise taxes are generally levied on consumer products with negative public effects. Policymakers use these taxes to incentivize market participants to produce and purchase less of these ‘sinful’ products. Common excise taxes include those on...Read More

As expected, President Biden’s 2024 proposed budget included several changes to the tax treatment of foreign income. Although prior attempts to rewrite these tax rules stalled in Congress, with the European Union and others moving ahead on Organization for Economic Cooperation and Development proposals for minimum taxes on income of multinationals, it’s worth reviewing what...Read More

Tax season is here and every season we see questions about how to enter a Schedule K-1 in TurboTax, as well as what happens if you don’t receive your Schedule K-1 until after the tax deadline. If you have questions about what a Schedule K-1 is, please check out our tax article here. And if...Read More

HHS has released revised instructions for group health plans and insurers to report prescription drug and health care spending data, as required by the Consolidated Appropriations Act, 2021 (see our Checkpoint article). As background, regulations describing the content and timing requirements for data submissions have established that plans and insurers must submit annual spending, premium, and...Read More

Vintage blurred kids on swing at busy public playground in USA. Defocused children, parents doing … [+] activity together. Hanging seat suspended from bar back, forth. Colorful playground in background getty President Biden’s fiscal year 2024 budget would revive 2021’s enhanced child tax credit (CTC) with some new twists that seek to make the credit...Read More

Key Findings The U.S. system of taxes and transfers is highly progressive. Measuring comprehensive income, inclusive of market-based income and government taxes and transfers, illustrates the total fiscal burden created by a fiscal system. Income transfer programs amplify the U.S. federal tax system’s progressivity, move the state and local system from moderate regressivity to moderate...Read More

House Budget Committee holds a hearing on the “fiscal state of the union.” The House Budget Committee heard thoughts from leading public finance experts yesterday on the federal government’s fiscal conditions. While the national debt was a major focus, the impending debt limit breach also got a mention. During the hearing, Mark Zandi of Moody’s...Read More

File 100% FREE with expert help Get live help from tax experts, plus a final review before you file – all free Simple tax returns only. See if you qualify.Must file by 3/31. The April 18th deadline is around the corner, but it’s not too late to file your simple tax return for free! If...Read More

The tax information you need all in one place. We’ve put together a master list of helpful articles for your tax situation, whether you’re preparing to file, in the process of filing, or waiting for your refund. If you’re self-employed, we have a section for that too. Let’s dive right in. Individual filers Stage 1:...Read More