Nothing is sure in life but death, taxes, and fighting over the IRS budget. The 2022 Inflation Reduction Act (IRA) boosted the IRS’s funding by nearly $80 billion over a decade, but Congress quickly, ...

T17-0151 - Distribution of AMT and Regular Income Tax by Expanded Cash Income, Current Law, 2016 - 2018 ...

Total US tax revenue equaled 27 percent of gross domestic product, well below the 34 percent weighted average for the other 37 OECD countries. US taxes are low relative to those in other high-income ...

Taxpayers who itemize deductions on their federal income tax returns can deduct state and local taxes--specifically property taxes plus either income taxes or general sales taxes. However, the Tax ...

The tax expenditure budget displays the estimated revenue losses from special exclusions, exemptions, deductions, credits, deferrals, and preferential tax rates in federal income tax law. Every year, ...

Although prohibited under federal law, 21 states allow and levy some type of excise tax on recreational cannabis purchases. But different states use different taxes—percentage-of-price taxes, ...

The US corporate income tax rate is now lower than the top rate in all other leading economies except for the United Kingdom. Corporate income tax revenues in the United States as a share of gross ...

The Tax Cuts and Jobs Act made significant changes to individual income taxes and the estate tax. Almost all these provisions expire after 2025. The Tax Cuts and Jobs Act (TCJA) made substantial ...

The federal government distributes grants to states and localities for many purposes. Some grants are delivered directly to these governments, but others are “pass-through” grants that first go to ...

The Tax Cuts and Jobs Act cut taxes substantially from 2018 through 2025. The resulting deficits are adding $1 to $2 trillion to the federal debt, according to official estimates from before and ...

State and local governments levy taxes on various tobacco products, including cigarettes, chewing and smokeless tobacco (often referred to as "other tobacco products"), and vaping products. State and ...

Provisions of the federal income tax that subsidize domestic production of fossil fuels include the expensing of exploration, development, and intangible drilling costs; the use of percentage ...