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President-elect Biden Outlines Plan for Additional Coronavirus-Related Relief and Stimulus

In releasing details of his coronavirus relief plan Thursday evening, President-elect Joe Biden envisions a two-part response to the pandemic and economic crisis. The first aspect builds on previous rounds of relief enacted in 2020, and would provide larger payments to individuals, expanded relief for households and small businesses, funding for vaccine distribution, and aid […]

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What to Expect During the 2021 Tax Season

In the next few weeks, the Internal Revenue Service (IRS) will begin accepting federal tax returns for the 2020 tax year. The coronavirus pandemic and multiple pandemic-related relief packages passed last year will make the tax season unique for taxpayers and for the IRS. Congress introduced several tax policy changes in 2020 that will impact […]

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Here’s How Education-Related Tax Benefits Could Change in 2021

The mess of education-related tax breaks available to taxpayers will become a bit easier to navigate in coming years if the Consolidated Appropriations Act of 2021 is signed into law. The year-end act, which provides for regular government funding, coronavirus-related relief, and various other congressional priorities, would clean up a temporary education-related tax break that […]

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COVID-19 Relief Package FAQ

Leadership in the U.S. House and Senate came to an agreement in December over the details of a $900 billion COVID-19 relief bill, (Consolidated Appropriations Act, 2021) to be attached to a broader $1.4 trillion omnibus which will fund the federal government for the 2021 fiscal year. The COVID-19 relief bill extends and modifies several provisions first enacted in […]

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Tax Extenders Hitch a Ride on Omnibus and COVID-19 Relief Deal

Tax extenders are no stranger to hitching a last-minute ride on year-end legislation. This year they made another last-minute appearance, finding a hold in their own division of the 5,593-page bill to fund the government through the fiscal year and provide additional coronavirus relief through March. If you’ve followed the extenders debate, you know that […]

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Congress Passes $900 Billion Coronavirus Relief Bill

Sunday evening, leadership in the U.S. House and Senate came to an agreement over the details of a $900 billion coronavirus relief bill, to be attached to a broader $1.4 trillion omnibus which will fund the federal government for the 2021 fiscal year. Congress also voted to extend a continuing resolution (CR) to keep the federal […]

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2020 Spanish Regional Tax Competitiveness Index

Note: Below is an excerpt of the 2020 Spanish Regional Tax Competitiveness Index (RTCI), a recent report published in collaboration with Fundación para el Avance de la Libertad. The RTCI for Spain is designed to analyze how well regions structure their tax systems, allows policymakers, businesses, and taxpayers to evaluate and measure how their regions’ tax systems […]

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Individual and Business CARES Act Tax Provisions Due to Expire on December 31

Congress is having an unusually busy week as policymakers seek to simultaneously fund the federal government beyond the expiration of the continuing resolution on Friday and provide a second round of economic relief to individuals and businesses after passing the $2.6 trillion CARES Act last March. Lining up closely with the need to fund the […]

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Additional Pandemic Relief Might Be Taking Shape

With fewer than 10 days until government funding runs out, congressional lawmakers are down to the wire to fund the government and provide additional pandemic-related relief to the households and businesses trying to make it through the winter. This week, both Senate Majority Leader Mitch McConnell (R-KY) and a bipartisan group of lawmakers released new […]

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Prospects for Federal Tax Policy After the 2020 Election

As Americans receive more clarity on the outcome of the 2020 presidential and congressional elections, the prospects for federal tax policy headed into 2021 are also becoming clearer. A Biden administration may have to work with a Republican Senate majority (pending the results of runoff elections in Georgia) and a Democrat-controlled House to navigate various […]