Tax Policy - Sources of Personal Income, Tax Year 2017 Update Key Findings Taxpayers reported about $11 trillion of total income on their 2017 tax returns. About 68.8 percent ($7.5 trillion) of total income reported on Form 1040 consisted of wages and salaries,...

Tax Policy - Marginal Tax Rates for Pass-through Businesses by State Pass-through businesses, such as sole proprietorships, S corporations, and partnerships, make up a majority of businesses in the United States. The owners of these firms pay individual income...

With the deadline pushed back to give practitioners and their taxpayers an extra three months to file and pay any tax due, one might think that everyone would have their returns filed by now. But some experts say they expect July 15 to be more like April 15 — only later.… Read more about Tax Pros and Clients Face Final Tax Deadline (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Tax Policy - State Forecasts Indicate 1 Billion 2-Year Tax Revenue Losses Compared to FY 2019 Key Findings Extrapolating from recently revised state revenue forecasts yields an estimated nationwide $121 billion decline in state tax collections across FYs 2020...