In reviewing some IRS stats for 2014 returns, I was surprised to see that two taxes added by the Affordable Care Act (Obamacare), generated more revenue in 2014 than was generated from the individual AMT. Here are the stats:
Tag Archive for tax revenue
Today, June 16, the city of brotherly love will take the proposed Philadelphia sugar tax to a final vote. The tax would place a 1.5 cent-per-ounce added tax on sweetened beverages. If the motion is approved, Philadelphia would be only the second city in the United States to impose such a tax in attempt to increase revenue and, thus, help fund the city’s educational programs and employee benefits.
It’s not the first attempt. The Philadelphia city government has tried on multiple occasions to pass this tax. Originally, the tax was touted as a deterrent for unhealthy eating habits. With the focus now shifting to generating revenue for improving schools and building community centers, there is a greater incentive for the city to get this tax passed.
Current Articles
Spotlight Interview: Chuck Levun and Michael Cohen On Educating CPAs, Attorneys and Other Tax Planning Professionals, Part 1Spotlight Interview Part 1: Chuck Levun and Michael Cohen on Educating CPAs, Attorneys and Other Tax Planning Professionals – As Well as Their Seasoned Advice for Tax Professionals New and Old For […]
Sales And Use Tax 101 – You Don’t Know What You Don’t KnowSales and use tax compliance can be daunting. Regulations vary by state and jurisdiction making them difficult to navigate, and to make matters even more complex, the rules are ever-changing. For […]
IRS Releases 2023 Data Book Describing Agency’s Transformation Through StatisticsThe Internal Revenue Service today issued its annual Data Book detailing the agency’s activities during fiscal year 2023 (Oct. 1, 2022 – Sept. 30, 2023), including revenue collected and tax returns […]
Avoiding Costly Mistakes: Four Essential Tax Concepts For Attorneys And CPAs (Complimentary 1-Hour Webinar Thursday, May 16th)Register For Complimentary Webinar Register Now Even smaller matters might have big traps and significant tax implications – leading to unexpected tax liabilities for your clients and potential […]
Understanding The Alternative Simplified Credit Calculation For R&DThe Research and Development (R&D) Tax Credit is a valuable incentive offered by the US government to encourage innovation. However, calculating this credit can involve complex formulas and […]
Recent Comments