News

New Jersey is temporarily waiving corporate nexus arising from employees teleworking due to the COVID-19 pandemic—a response to the crisis that other states should follow. As we have noted previously, when employees work in a state in which their employer does not otherwise operate, that can give their employer sufficient contacts (“nexus”) with the state
0 Comments
Countries around the world are implementing emergency tax measures to support their economies under the coronavirus (COVID-19) threat. On March 12, the Spanish Prime Minister announced a €200 billion ($231 billon) package, around 20 percent of the Spanish GDP, to help companies and protect workers and vulnerable groups affected by the coronavirus crisis. That’s €117
0 Comments
Opening Day for baseball was scheduled for March 26, an annual sports holiday celebrated across the country as it represents a clean slate for millions of fans. This time, March 26 came and went with no opening day games—the coronavirus pandemic has postponed all major sports leagues in an effort to limit the spread of
0 Comments
It’s official. The largest emergency aid relief in U.S. history was just signed into law to address the economic impact of the Coronavirus. Named the CARES Act, this monumental $2 trillion stimulus package is intended to provide relief to individuals, businesses, and industries who have taken a financial hit over the last several weeks. Of
0 Comments
The coronavirus pandemic has prompted lawmakers all over the world to pass sweeping relief packages for citizens and businesses unable to work and operate normally. Because of social distancing, shelter-in-place, and quarantines, the economy has practically been “frozen” and the relief packages are supposed to carry companies and workers over to the other side of
0 Comments
Even during the coronavirus outbreak, efforts to change the way digital business models are taxed continue. The OECD announced on March 17 that efforts connected to their team’s work on digital taxation are continuing at “full steam” even as they shift to telework. The scope of the OECD work is expansive and the challenges for
0 Comments
Countries around the world have been introducing various fiscal measures to counteract the economic distress caused by COVID-19. One measure—among many others—has been to make changes to Value-Added Taxes (VAT), such as delaying payments, speeding up refunds, or reducing rates. These measures can provide great relief for many businesses and in some cases for consumers
0 Comments
Amid the all-round disruptions caused by the novel coronavirus, a major concern is the threat of enormous job loss. Governments around the world have put forward various measures to address such concerns. One of the most talked about is Germany’s Kurzarbeit—German for “short-work”—scheme, a wage subsidy that many economists believe was essential in stabilizing the
0 Comments
Yesterday, House Democrats released the Take Responsibility for Workers and Families Act, which is proposed legislation for tackling the coronavirus public health emergency and related economic downturn. The bill can be contrasted with the Senate Republican CARES Act, although they share some similarities by providing individual taxpayers with a rebate and modifying business tax provisions
0 Comments
The coronavirus outbreak has caused policymakers around the world to think through ways to respond to the health crisis. A major element of that response has been to shutter businesses and cancel public events. This has led to major reductions in economic activity, and policymakers have responded in creative ways to support businesses and workers
0 Comments
The current coronavirus outbreak has policymakers around the world advancing policies to counteract the economic effects of the crisis. Those economic effects are likely to be severe, and policymakers should consider how the structure of their tax systems might result in deep revenue losses or hamper an economic recovery once the health risks have subsided.
0 Comments
In today’s globalized economy, many businesses make foreign investments in countries around the world. Taxes—among many other factors—play a role in business decisions on whether and where such investments are made. Today’s maps look at the cross-border corporate effective average tax rates (EATR) on investment among 32 European countries. Cross-border EATRs capture both domestic and
0 Comments
The coronavirus-related lockdowns and quarantines are causing a major but temporary pause in economic activity. Many jobs and paychecks have been suspended. Congress and the Trump Administration are exploring tax relief and changes to unemployment benefits for individuals. Many businesses will experience a sharp reduction in cash flow, impairing their ability to make payroll, rent,
0 Comments
 Key Findings Income earned from appreciating assets—rather than wages—constitutes a large portion of income for taxpayers in the highest income brackets. Democratic presidential candidates have suggested that long-term capital gains and dividends income earned by the wealthiest Americans should be taxed at ordinary income tax rates rather than the preferential rates. Raising capital gains rates
0 Comments
Governmental responses to the coronavirus outbreak will require creativity and flexibility—and one aspect of that may involve temporarily rethinking how we structure not only unemployment insurance (UI) benefits but also the taxes that pay for them. As this public health crisis unfolds, it will be necessary to ensure that (1) those who lose their jobs
0 Comments
As your inbox floods with emails announcing school closures, a falling stock market, and measures to self-quarantine, filing your taxes may have slipped your mind. While Coronavirus will affect most businesses, rest assured that self-file tax services, like TaxAct, will remain fully operational. For many, a tax refund is the biggest paycheck of the year,
0 Comments
On Monday, Georgia’s House of Representatives passed House Bill 378, which would extend the state’s municipal rental car excise tax onto  marketplace facilitators of rental motor vehicles, including peer-to-peer car sharing firms. This proposal, like other proposals contemplated by policymakers in other states, goes in the wrong direction by expanding a tax that violates the
0 Comments
Last Saturday, the U.S. House of Representatives passed a bill (reportedly pending some potential technical changes) to help aid those affected by the current coronavirus crisis. The bill, the Families First Coronavirus Response Act, would expand federal medical leave, create an emergency paid sick leave requirement, and provide tax credits against employer-side payroll taxes to
0 Comments