Inflation Reduction Act, Congress boosted the Internal Revenue Service’s funding by nearly $80 billion over a ten-year span ...

T24-0031 - Tax Units with a Tax Increase or Tax Cut from Making Certain Provisions in 2017 Tax Act Permanent, by ECI Percentile, 2027 ...

Extending the TCJA would lower federal revenues by $4.4 trillion through fiscal year 2035: $3.5 trillion from individual and estate tax provisions and $860 billion from certain business tax provisions ...

Fines, fees, and forfeitures are financial penalties imposed for violations of the law. State and local governments collected a combined $13 billion in revenue from fines, fees, and forfeitures in ...

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 ...

Corporations and individual taxpayers who itemize can deduct charitable contributions to 501(c)(3) organizations. Many nonprofit institutions are exempt from paying federal income tax, but taxpayers ...

The Tax Cuts and Jobs Act nearly doubled the standard deduction and eliminated or restricted many itemized deductions in 2018 through 2025. It also eliminated the “Pease” limitation on itemized ...

State and local governments collected a combined $4.1 trillion of general revenues in fiscal year 2021, from a mix of income taxes, sales taxes, property taxes, charges for specific government ...

Yes – immigrants of all legal statuses in the US pay federal, state, and local taxes. Like all other residents, immigrants of all legal statuses are required to pay income, payroll, property, sales, ...

The federal government collected revenues of $4.9 trillion in 2022—equal to 19.6 percent of gross domestic product (GDP) (figure 2). Over the past 50 years, federal revenue has averaged 17.4 percent ...

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, ...