Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity that is or could be done internally, and sometimes involves transferring employees and assets from one firm to another.
A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe the state. It may also be a credit granted in recognition of taxes already paid or a form of state support.
Americans for Tax Reform (ATR) is a politically conservative U.S. advocacy group whose stated goal is "a system in which taxes are simpler, flatter, more visible, and lower than they are today." According to ATR, "The government's power to control one's life derives from its power to tax. We believe that power should be minimized." The organization is known for its "Taxpayer Protection Pledge", which asks candidates for federal and state office to commit themselves in writing to oppose all tax increases. The founder and president of ATR is Grover Norquist, a conservative tax activist.
Deborah Ann Greer Stabenow is an American politician serving as the senior United States Senator from Michigan, a seat she was first elected to in 2000. A member of the Democratic Party, she became the state's first female U.S. Senator after defeating Republican incumbent Spencer Abraham. Before her election to the Senate, she was a member of the U.S. House of Representatives, representing Michigan's 8th congressional district (1997–2001). Previously she served on the Ingham County Board of Commissioners and in the Michigan State Legislature.
Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Typically this refers to a company business, although state governments may also employ offshoring. More recently, technical and administrative services have been offshored.
The National Taxpayers Union (NTU) is a conservative taxpayers advocacy organization and taxpayers union in the United States, founded in 1977 by James Dale Davidson. NTU says that it is the largest and oldest grassroots taxpayer organization in the nation, with 362,000 members nationwide. It is closely affiliated with a non-profit foundation, the National Taxpayers Union Foundation (NTUF). NTUF is a non-partisan research and educational organization dedicated to showing Americans how taxes, government spending, and regulations affect them. The organization developed a method of determining how fiscally responsible members of congress are. This scale is used to determine how likely a member of congress is to vote responsibly in terms of finances. Some determining factors included are personal for instance, how many overdrawn personal checks the congressman has in a certain amount of time. While this may seem brash, the personal finance of congress members plays an important part in the grade they are assigned. Another particularly important factor in the grade is how the congress member votes on bills that the National Taxpayers Union sees fiscally important. Essentially the grade given to the politician determines how trustworthy he is in the eyes of the National Taxpayers Union. The scale is also designed to accept both the point of view of conservative house members who want to balance the budget and liberal house members who would rather invest in commonwealth.
Under the United States taxation system, an enterprise may deduct business expenses from its taxable income, subject to certain conditions. On occasion the Internal Revenue Service (IRS) has challenged such deductions, regarding the activities in question as illegitimate, and in certain circumstances the Internal Revenue Code provides for such challenge. Rulings by the U.S. Supreme Court have in general upheld the deductions, where there is not a specific governmental policy in support of disallowing them.
An adoption tax credit is a tax credit offered to adoptive parents to encourage adoption. Section 36C of the United States Internal Revenue code offers a credit for “qualified adoption expenses” paid or incurred by individual taxpayers.
The American Opportunity Tax Credit is a partially refundable tax credit first detailed in Section 1004 of the American Recovery and Reinvestment Act of 2009.
The Internal Revenue Service (IRS) is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury, and is under the immediate direction of the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States. The IRS is responsible for collecting taxes and administering the Internal Revenue Code, the main body of federal statutory tax law of the United States. The duties of the IRS include providing tax assistance to taxpayers and pursuing and resolving instances of erroneous or fraudulent tax filings. The IRS has also overseen various benefits programs, and enforces portions of the Affordable Care Act.
Special Needs Tax Credit is a proposed addition to the U.S. Internal Revenue Service tax code, which would enable a $5,000 refundable tax credit to reimburse family members of adults with special needs and seniors with dementia for the legal expenses of guardianship for their loved ones. It would also enable the creation of a Special needs trust for a person with disabilities. The proposal, initiated by Jaret L. Vogel in 2006, became draft legislation in 2009, and the "Special Needs Tax Credit" Bill was put before the United States Congress in March 2011.
The Credit For Increasing Research Activities is a general business tax credit under Internal Revenue Code Section 41 for companies that incur research and development (R&D) costs in the United States. The R&D Tax Credit was originally introduced in the Economic Recovery Tax Act of 1981 sponsored by U.S. Representative Jack Kemp and U.S. Senator William Roth. Since the credit's original expiration date of December 31, 1985, the credit has expired eight times and has been extended fifteen times. The last extension expired on December 31, 2014. In 2015, Congress made permanent the research and development tax credit in a measure of the government spending bill.
99ers is a colloquial term for unemployed people in the United States, mostly citizens, who have exhausted all of their unemployment benefits, including all unemployment extensions. As a result of the American Recovery and Reinvestment Act passed by Congress in February 2009, many unemployed people could receive up to 99 weeks of unemployment insurance benefits, hence the name "99ers". An estimated 7 million people are affected.
John Edward Walsh is an American politician who served as a United States senator from Montana from 2014 to 2015. A member of the Democratic Party, he previously served as a colonel in the Army National Guard, the adjutant general of the Montana National Guard with a state commission as a brigadier general from 2008 to 2012 and the 34th Lieutenant Governor of Montana from 2013 to 2014 under Governor Steve Bullock.
The American Research and Competitiveness Act of 2014 is a bill that would amend the Internal Revenue Code to modify the calculation method and the rate for the tax credit for qualified research expenses that expired at the end of 2013 and would make that modified credit permanent.
The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, Pub.L. 115–97, is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), that amended the Internal Revenue Code of 1986. Major elements of the changes include reducing tax rates for businesses and individuals, increasing the standard deduction and family tax credits, eliminating personal exemptions and making it less beneficial to itemize deductions, limiting deductions for state and local income taxes and property taxes, further limiting the mortgage interest deduction, reducing the alternative minimum tax for individuals and eliminating it for corporations, reducing the number of estates impacted by the estate tax, and cancelling the penalty enforcing individual mandate of the Affordable Care Act (ACA).
The Driving America Forward Act is legislation introduced in the U.S. Senate and House in 2019 that extends the federal tax credit for electric vehicle purchases. The Senate bill was introduced on April 9, 2019 by Democratic Senators Debbie Stabenow and Gary Peters, and Republican Senators Lamar Alexander and Susan Collins. The House bill was introduced by Democratic Congressman Dan Kildee.
The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020 in response to the economic fallout of the COVID-19 pandemic in the United States. The spending primarily includes $300 billion in one-time cash payments to individual Americans, $260 billion in increased unemployment benefits, the creation of the Paycheck Protection Program that provides forgivable loans to small businesses with an initial $350 billion in funding, $500 billion in aid for large corporations, and $339.8 billion to state and local governments.
The Health and Economic Recovery Omnibus Emergency Solutions Act or Heroes Act is proposed legislation acting as a $3 trillion stimulus package in response to the COVID-19 pandemic, and is intended to supplement the earlier CARES Act stimulus package. The bill for this Act of Congress was proposed by Representative Nita Lowey of New York on May 12, 2020, and was passed by the United States House of Representatives by a vote of 208–199 on May 15, 2020.
The Health, Economic Assistance, Liability Protection and Schools (HEALS) Act is a $1 trillion economic stimulus bill introduced in 2020 by the United States Senate during the COVID-19 pandemic, to supplement the earlier CARES Act.
