Tax Policy Center

capital gains

: TaxVox
An analysis lays a foundation for debate. The TPC has a new paper on the distributional effects of the President’s tax proposals . His tax cuts primarily benefit low-income single workers and families with children. Households with very high incomes and substantial capital assets would pay more. A
February 2, 2015Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox
President Obama’s latest tax package, which he’ll unveil in detail next week along with his new budget, would lower taxes for low-income households and significantly raise taxes for the highest income 1 percent—those making $663,000 or more, according to new Tax Policy Center estimates . Middle-
January 28, 2015Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
President Obama’s new proposal to tax capital gains at death is a welcome change that would close a huge loophole, but it suffers from a serious flaw: For some assets, it would be a record-keeping nightmare. Fortunately, there is an easy fix. The proposal is part of a broader tax plan that Obama
January 21, 2015William G. Gale
Individual Taxes: TaxVox
The President plans to announce in Tuesday’s State of the Union Address new proposals that would raise taxes on capital gains for the wealthiest Americans. The proposal would raise the top tax rate on long-term gains and qualifying dividends to 28-percent (including the Affordable Care Act’s 3.8
January 18, 2015Leonard E. Burman
Individual Taxes: TaxVox
Corporate inversions are all the rage these days as U.S. businesses merge with foreign firms and then restructure the combined businesses as foreign-based corporations. That yields tax benefits and may boost their after-tax profits, but it can also leave their stockholders with unwanted capital
August 20, 2014Roberton C. Williams
: TaxVox
Two appeals courts deliver opposing rulings on Affordable Care Act tax subsidies. The DC Circuit Court ruled yesterday that the tax credits can only go to residents in states that run their own health exchanges. In Richmond, VA, the 4th Circuit Court said the ACA language isn’t clear, so the tax
July 23, 2014Renu Zaretsky
Individual Taxes: TaxVox
Today, I testified before the U.S. Senate Permanent Subcommittee on Investigations (the “Subcommittee”) on the abuse of structured financial products by hedge funds, in particular by the Renaissance funds. This is what I told the Subcommittee: Almost a century ago, Congress reduced the tax rate for
July 22, 2014Steven M. Rosenthal
Individual Taxes: TaxVox
The IRS determined this week that Bitcoin and other digital currencies should be taxed as property, not currency. This means Bitcoin transactions will be taxed as capital gains, not as ordinary income. But, perhaps surprisingly , the act of spending Bitcoin could trigger capital gains taxes. Thus,
March 27, 2014Steven M. Rosenthal
Individual Taxes: TaxVox
The First Circuit U.S. Court of Appeals ruled yesterday that private equity funds are engaged in a trade or business under the Employee Retirement Income...
July 25, 2013Steven M. Rosenthal
Individual Taxes: TaxVox
For a decade, Congress has been debating how to tax managers of private equity firms. The argument is pretty familiar to tax wonks: Should these...
June 25, 2013Howard Gleckman