Taxes

As usual, the politicians are missing the point: Success or failure of the IRS’s ambitious plan to spend $80 billion in new money won’t be measured by how many new staff it hires. Rather it will depend largely on the agency’s ability to hire the right people, upgrade and modernize its technology, and change its

The cannabis industry continually grows and is weeding out the cynics in the process. To date, 21 states and the District of Columbia legalized the recreational use of cannabis; meanwhile, 37 states legalized the medical use. As a result, the cannabis industry is estimated to take in more than $25 billion annually within two years.

In a previous Urban Institute study, researchers spoke to parents with low incomes about how these dynamics affected their lives. We found that when families anticipate an increase in earnings, they tend to focus on the prospect of losing benefits rather than gaining access to tax credits. Losses feel scary for people, as benefits are

Introduction VAT in the UK is 50 years old this month. VAT is one of the highest yielding taxes for the UK government with official government statistics that over £150 billion of UK VAT was collected last year, being around 16% of total tax receipts. This compares to circa £68 billion for corporation tax and

Now that the tax deadline has passed, have you ever paused for a moment to consider how all of the tax returns get processed? The Internal Revenue Service (IRS) is arguably one of the most loathed government agencies in the country. It is a mammoth organization consisting of over 79 thousand employees that are responsible