Blog
A Comprehensive Guide to Filing Your 2023 Income Tax Return in the United States
Introduction Filing income tax returns is a requirement imposed by the United States government on most citizens and residents. It is an annual process that helps individuals report their income, claim deductions and credits, and determine their tax liability. The...
Exploring the European Union’s Proposed Wealth Tax: Trends, Impacts, and Repeals
The European Union's Pursuit of a New Wealth Tax for Revenue Generation The European Union (EU) is considering the implementation of a new wealth tax as a means to increase its revenue from internal sources. This tax would contribute to funding the EU budget and...
Tariffs Imposed by the Trump and Biden Administrations
Under the Trump administration, a series of tariffs were imposed, resulting in an $80 billion tax increase on imports valued at $380 billion (based on 2018 figures). These tariffs affected various products, including those from China, such as steel, aluminum, washing...
EU Commission’s Temporary Resource: Company Profits
Introduction In an effort to strengthen the European Union's budget as it tackles its debt, the EU Commission's has put forward a new source of revenue known as a "temporary statistical own resource based on company profits." While previous proposals for new EU own...
European Fuel Tax Rates 2023: Gasoline and Diesel Excise Duties in EU
European Fuel Tax Rates in 2023 Introduction In light of the significant energy price surges experienced in 2022, several European nations implemented temporary fuel tax reductions to alleviate the burden on their citizens. However, as of 2023, most European countries...
Streamlining Tax Filing: Exploring IRS Direct eFile & Prefilled Returns
Introduction The Internal Revenue Service (IRS) has recently conducted a study on the viability of implementing a government-operated direct file program for taxpayers. This study precedes the agency's planned launch of a Direct eFile pilot program during the upcoming...
Inflation Reduction Act’s Green Energy Tax Credits: Unveiling the Rising Costs
The Troubling Price Tag of the Inflation Reduction Act's Green Energy Tax Credits The price tag of the Inflation Reduction Act's green energy tax credits is significantly higher than initially anticipated. Recently, the Joint Committee on Taxation (JCT) provided a...
Tax Policy Changes: A Comprehensive Overview of State-Level Reforms
Introduction The June solstice has come and gone, officially ushering in the summer season and marking the conclusion of most state legislative sessions. As this time of the year unfolds, numerous states are initiating policy modifications that were enacted during...
Spanish Elections 2023: Impact on Tax Reforms and European Policies
The Impact of Spanish Elections: A Catalyst for Pro-Growth Tax Reforms Spanish Prime Minister, Pedro Sánchez, surprises everyone by calling for a snap national election on July 23, just three weeks into the Spanish presidency of the Council of the European Union....