Tax Blog
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Summary of the Latest Federal Income Tax Data, 2020 Update
Tax Policy - Summary of the Latest Federal Income Tax Data, 2020 Update The Internal Revenue Service (IRS) has released data on individual income taxes for tax year 2017, showing the number of taxpayers, adjusted gross income, and income tax shares by income...
How Controlled Foreign Corporation Rules Look Around the World: Colombia and a Perspective of Latin America
Tax Policy - How Controlled Foreign Corporation Rules Look Around the World: Colombia and a Perspective of Latin America The Colombian CFC regime was enacted in 2016 (Law 1819). An entity in Colombia is considered a CFC if it is not a resident in the country and...
Analysis of the Economic, Revenue, and Distributional Effects of Repealing Step-up in Basis
Tax Policy - Analysis of the Economic, Revenue, and Distributional Effects of Repealing Step-up in Basis With Super Tuesday approaching, the six top Democratic presidential candidates continue to hone their tax proposals in order to address income inequality and...
Proposed regs. issued on meal and entertainment expense deductions
IRS Tax News - Proposed regs. issued on meal and entertainment expense deductions The IRS issued proposed rules clarifying that taxpayers may generally continue to deduct 50% of the food and beverage expenses associated with operating their trade or business,...
Insights into the Tax Systems of Scandinavian Countries
Tax Policy - Insights into the Tax Systems of Scandinavian Countries Scandinavian countries are well-known for their broad social safety net and their public funding of services such as universal healthcare, higher education, parental leave, and child and...
Maryland Lawmakers Consider Sales Tax Hike on Businesses
Tax Policy - Maryland Lawmakers Consider Sales Tax Hike on Businesses Last week, Maryland House Majority Leader Eric G. Luedtke (D) introduced HB1628 which, if enacted, would expand the state sales tax base to include services and raise an estimated $2.6 billion...
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