Taxes

How the Shale Gas Boom Creates Estate Tax Problems for Farmers

On April 16, 2015, the House of Representatives voted to repeal the estate tax.1  The Obama Administration decried the proposed tax cut and vowed a veto.2 The Senate is now considering a repeal bill i…

Real, Simple (and Transparent) Tax Reform

Every candidate running for the presidency in 2016 will trumpet tax reform as part of his or her agenda. The contenders may propose to reduce rates, eliminate deductions, or give credits for this or t…

Congressional Brief: Taxes, Spending and the Debt Limit

In March 2013, the Budget Control Act of 2011 went into effect, automatically cutting spending in certain federal outlay categories. These cuts were initially set to begin in January 2013, but were de…

The Accounting War: Inflation, Taxes and Financial Transparency

A seemingly technical accounting issue has important implications for competition between large corporations and smaller firms, for U.S. businesses overseas, and for the ability of individuals to unde…

What Is in the Lee-Rubio Tax Plan?

Senators Mike Lee (R-Utah) and Marco Rubio (R-Fla.) have released a blueprint for federal tax reform called the “Economic Growth and Family Fairness Tax Plan.”

New Congressional Budget Office Director Keith Hall and Dynamic Scoring

The appointment of Keith Hall as director of the Congressional Budget Office coincides with the adoption by Congress of a rule change that requires “dynamic scoring” of proposed tax law changes.

Obama's Proposed Capital Gains Tax Hike

Taxing the nonwage income of the wealthy is politically popular because it is assumed few people will be affected. President Obama’s 2016 budget proposes an increase in the capital gains tax to 28 per…

Not All Income Tax-Free States Are Alike

All but seven states have a state income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Texas and Wyoming. These states are typically thought of as having a tax advantage over states with…