Have you ever wondered why gas, cigarettes or alcohol cost so much? The answer often comes down to an excise tax — a special tax that’s built right into the price of certain goods. So, what is excise ...

More than 230 years ago, one of the first acts of the First Congress in 1789 included a relatively mundane, but important, tax policy allowing a refund on excise taxes. Unfortunately, this has become ...

On April 16, the IRS issued Notice 2024-35 in which it announced that the automatic waiver of the excise tax that applies to certain 10-year beneficiaries has been extended to 2024. As a result, ...

In 2022, lawmakers introduced a new excise tax on stock repurchases. This one percent tax applies to net share repurchases of large corporations and was projected to raise $73.6 billion over a decade.

FIRST ON FOX: Republican lawmakers are pushing to stop states from imposing excise taxes on gun and ammunition sales, a condemnation of a measure California enforced in 2024. In 2023, California ...