Blog
First-Time Penalty Abatement: 2026 Tax Professional’s Guide
First-Time Penalty Abatement is one of the most valuable forms of IRS penalty relief available to your clients, and also one of the most overlooked. The way it is granted has changed in 2026. This guide covers how FTA works, who qualifies, how to request it, how to...
Overview of the Tax Foundation’s General Equilibrium Model
The Tax Foundation uses and maintains a General Equilibrium Model, known as our Taxes and Growth (TAG) Model to simulate the effects of government tax and spending policies on the economy and on government revenues and budgets.Read More
A Competitive Corporate Tax Code is Key to Sustaining Strong Economic Growth
The 12-year history of Tax Foundation's ITCI shows that tax policy is constantly in flux around the world and that tax policy design choices matter for economic growth.Read More
What Is a Canadian RRSP and How Does It Affect Your US Taxes?
If you're like many Americans living in Canada, you may have opened a Registered Retirement Savings Plan (RRSP) to take advantage of its tax benefits. You may also be wondering how it affects your US tax return. It's a fair question. A tax-advantaged retirement...
Meet the Digital IRS: Data, AI, and Transcript Monitoring
Today's digital IRS draws on third-party data and uses artificial intelligence and machine learning to prioritize returns for review. This shift is part of a larger transformation and it reflects a changed reality. The old agency has been replaced by a new technology...
Common IRS Notices Explained: A Guide for US Expats
An envelope from the IRS can evoke mild panic regardless of where you are when you receive it. If it reaches you three weeks late, several time zones from the agency that sent it, with a response deadline printed inside that may already have passed, it can feel even...
Tax Subsidies for R&D Expenditures in Europe, 2026
Many countries incentivize business investment in research and development (R&D), intending to foster innovation. A common approach is to provide direct government funding for R&D activity. However, a significant number of jurisdictions also offer R&D tax...
There Is No Low-Tax Case for Tariffs
Full expensing under the One Big Beautiful Bill Act does not neutralize the tariff burden on imported goods, as former White House Council of Economic Advisers chair Stephen Miran asserts.Read More
IRS Quietly Ends Delinquent FBAR Submission Procedures: What US Expats Need to Know
On July 1, 2026, the IRS quietly removed its Delinquent FBAR Submission Procedures webpage with no formal announcement explaining the change. This program let taxpayers file late Foreign Bank Account Reports (FBARs) without penalty, as long as they'd already reported...
A Few Problems with Targeting Energy Companies with a Stock Buyback Tax
Introduced by Sens. Chuck Schumer (D-NY), Ron Wyden (D-OR), and Michael Bennet (D-CO), The Taxing Buybacks from Big Oil Windfalls Act would raise the stock buyback excise tax from 1 percent to 25 percent for large oil and gas companies. Read More
