proposed regulations that would provide new guidance related to the tax. Those regulations were made final on June 28, 2024, and scheduled for publication in the Federal Register on July 3, 2024. Corporate Buybacks A stock buyback is precisely what it sounds like a company repurchases shares from its shareholders directly or from the open … Read more
2024 Presidential Debate Tax Policy Issues | Tax Foundation Skip to content Home • Blog • Tax Policy Questions 2024 Presidential Candidates Should Address election. The future of the US tax code is one topic that should take center stage, as the next occupant of the White House will have to address the expiring individual … Read more
For years we’ve been hearing that when President Donald Trump cut corporate taxes in 2017, corporations pissed away their tax savings on stock buybacks. Trump himself, in one of his rare episodes of truthfulness, admitted it. But that turns out not to be quite right. According to a new report by the public interest nonprofit … Read more
The president plans to raise taxes on billionaires and giant corporations to help fund more affordable housing and childcare, while keeping taxes the same for those earning under $400,000 per year. With the 2024 presidential election less than five months away, President Joe Biden and former president Donald Trump have been busy highlighting their tax … Read more
An exterior view of the Supreme Court on June 20, 2024 in Washington, DC. Andrew Harnik | Getty ImagesIn a closely watched case, the Supreme Court on Thursday denied a challenge to a federal tax on certain foreign investments — but left questions about whether a wealth tax is constitutional.The case, Moore v. United States, focused … Read more
Biden administration officials said after evaluating the practice that there are no economic grounds for these transactions, with Deputy Treasury Secretary Wally Adeyemo calling it “really just a shell game.” The officials said the additional IRS funding provided through the 2022 Inflation Reduction Act had enabled increased oversight and greater awareness of the practice. “These tax shelters … Read more
Sharon Basch is a rising 3L at the University of Pittsburgh School of Law and a JURIST staff correspondent in Washington DC this summer. Wednesday morning I attended a US Senate Budget Committee hearing entitled “Making Wall Street Pay its Fair Share: Raising Revenue, Strengthening Our Economy.” The hearing was called to discuss tax policy and … Read more
Director of the National Economic Council Lael Brainard speaks at the White House in Washington, D.C., on Jan. 11, 2024.Drew Angerer | Getty ImagesPresident Joe Biden’s top economic advisor on Thursday unveiled plans to address trillions of dollars in expiring tax breaks enacted by former President Donald Trump.After 2025, several provisions from the Tax Cuts and Jobs … Read more
While more strategic tax leaders are most concerned that the 2024 election will result in changes to certain Inflation Reduction Act renewable energy credits, tax tacticians are most concerned about changes to federal corporate tax rates, according to a new survey from top six accounting firm BDO USA. BDO’s 2024 Tax Strategist Survey, which was released … Read more
We know that “privately, Trump has told allies that he is keenly interested in cutting corporate tax rates again,” according to The Washington Post, even as corporate profits hit near record highs in 2023. The Post also reported that “Trump’s advisers…have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to … Read more