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Topic:   Individual Alternative Minimum Tax

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Design Changes to the SOI Public Use File (PUF) (Research Report)
Victoria BryantJohn L. CzajkaJim NunnsGeorgia Ivsin

The Statistics of Income (SOI) Division of IRS prepares a publicly available file, the Public Use File, from its annual sample of income tax returns. The PUF is a critical data source for tax policy analysis. To insure taxpayer confidentiality, SOI applies disclosure avoidance procedures to the PUF. In 2012, SOI established a Working Group to perform an in-depth review of these procedures and of the analytical usefulness of the PUF. This paper describes the revised PUF design recommended by the Working Group, and how the design changes improve both disclosure avoidance and the PUF’s analytical usefulness.

Published: 12/18/14
Availability:   PDF


Evaluating Broad-Based Approaches for Limiting Tax Expenditures (Research Report)
Eric ToderJoseph RosenbergAmanda Eng

This paper evaluates six options to achieve across-the-board reductions to a group of major exclusions and deductions in the income tax: (1) limiting their tax benefit to a maximum percentage of income; (2) imposing a fixed dollar cap; (3) reducing them by a fixed-percentage amount; (4) limiting their tax saving to a maximum percentage of their dollar value; (5) replacing preferences with fixed rate refundable credits; and (6) including them in the base of the existing Alternative Minimum Tax (AMT). We discuss issues of design, implementation, and administration, and simulate the revenue, distributional, and incentive effects of the various options.

Published: 02/06/14
Availability:   PDF


Evaluating Broad-Based Approaches for Limiting Tax Expenditures (Research Report)
Eric ToderJoseph RosenbergAmanda Eng

This paper evaluates six options to achieve across-the-board reductions to a group of major exclusions and deductions in the income tax: (1) limiting their tax benefit to a maximum percentage of income, (2) imposing a fixed dollar cap, (3) reducing them by fixed-percentage amount, (4) limiting their tax saving to a maximum percentage of their dollar value, (5) replacing them with fixed rate refundable credits, and (6) including them in the base of the existing Alternative Minimum Tax (AMT). We discuss issues of design, implementation, and administration, and simulate the revenue, distributional, and incentive effects of the various options.

Published: 07/10/13
Availability:   PDF


Top Individual Income Tax Rates: How Does the U.S. Compare? (Article/Tax Facts)
Jim Nunns

Discussions of the effect of taxes on international competitiveness usually focus on corporate income tax rates, but individual income tax rates may also affect a country’s (or state’s) ability to compete for workers.

Published: 04/03/13
Availability:   PDF


Taxing the Wealthiest Could Go a Long Way (Commentary)
William G. Gale

In a contribution to The New York Times' Room for Debate, Bill Gale responds to the question: can policy makers make a dent in the deficit without affecting the majority of taxpayers?

Published: 12/05/12
Availability: HTML


Why We May Have to go Over the Fiscal Cliff  (Commentary)
William G. Gale

In a contribution to USA Today, Bill Gale asserts that going over the cliff might be the only way to stimulate the economy and implement gradual, balanced fiscal consolidation over the next decade.

Published: 11/30/12
Availability: HTML


Who Itemizes Deductions? (Article/Tax Facts)
Daniel BanemanBenjamin H. Harris

Many taxpayers can lower their taxable income by itemizing deductions, which in turn lowers tax liability. Itemized deductions reduce tax burdens for taxpayers with decreased ability to pay taxes, such as those experiencing a catastrophic loss, or for taxpayers who spent funds on activities the tax code deems worthwhile, such as contributing to charity. In recent years, the largest itemized deductions were those for mortgage interest paid, state and local taxes paid, and charitable contributions.

Published: 01/20/11
Availability: HTML | PDF


The Future of Individual Tax Rates: Effects on Growth and Distribution: Donald Marron's Testimony Before the Senate Committee on Finance (Testimony)
Donald Marron

Donald Marron's testimony before the Senate Committee on Finance on the individual tax system.

Published: 07/14/10
Availability: HTML | PDF


The Future of Individual Tax Rates: Effects of Economic Growth and Distribution: Leonard Burman's Testimony before the Senate Committee on Finance (Testimony)
Leonard E. Burman

Leonard Burman's testimony before the Senate Committee on Finance on whether and how to extend the 2001 and 2003 tax cuts.

Published: 07/14/10
Availability: HTML | PDF


Preliminary Revenue Estimates and Distributional Analysis of the Tax Provisions in the Bipartisan Tax Fairness and Simplification Act of 2010 (Research Report)
Jim NunnsJeff Rohaly

The Bipartisan Tax Fairness and Simplification Act of 2010 ("Wyden-Gregg," introduced as S. 3018) is a broad reform of the federal income tax system. Some provisions would also expand the Social Security payroll tax base. This paper presents the Tax Policy Center's estimates of the revenue and distributional effects of the income and payroll tax provisions in Wyden-Gregg.

Published: 05/24/10
Availability: HTML | PDF

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