GOP presidential candidate Donald Trump’s tariffs would raise $2.8 trillion over 10 years, but even that would fall far short of paying for his ideas.

With large pieces of the 2017 Tax Cuts and Jobs Act (TCJA) set to expire in 2025, taxes will be a top priority for ...

The difference is whether heirs who sell an inherited asset will pay tax on the capital gains from the time the asset was originally purchased or from the time it was inherited. The difference in tax ...

Unemployment insurance assists workers who become involuntarily unemployed and meet specified eligibility requirements. Unemployment insurance programs are run as federal-state partnerships financed ...

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 ...

General sales taxes are taxes on goods and services purchased by consumers, and the tax is a calculated as a percentage of the listed retail cost and added to the final purchase price paid by the ...

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 ...

The federal government distributes grants to states and localities for many purposes. Some grants are delivered directly to these governments, but others are “pass-through” grants that first go to ...

The US corporate income tax rate is now lower than the top rate in all other leading economies except for the United Kingdom. Corporate income tax revenues in the United States as a share of gross ...

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 ...

The 2017 Tax Cuts and Jobs Act discouraged charitable giving by reducing the number of taxpayers claiming a deduction for charitable giving and by reducing the tax saving for each dollar donated. The ...

State and local governments levy taxes on various tobacco products, including cigarettes, chewing and smokeless tobacco (often referred to as "other tobacco products"), and vaping products. State and ...