Tax Policy Center

income tax

Campaigns, Proposals, and Reforms: TaxVox
Four years ago, the Republican nominee for president, Mitt Romney, got in political trouble for deriding " the 47 percent " of Americans who did...
July 20, 2016Richard C. Auxier
Individual Taxes: TaxVox
Hillary Clinton and Bernie Sanders both want to create ambitious new government programs to help middle-income families with medical and education costs and family leave. Both say they’d pay for those initiatives by raising taxes. But there is an important difference between them: Clinton would
January 12, 2016Howard Gleckman
: TaxVox
Treasury shares tax filing data on the Affordable Care Act. It released data Friday that show 81 percent of tax filers “checked the box” to indicate that they had health insurance coverage. Nine percent claimed a health care coverage exemption, and 6 percent paid the fee for remaining uninsured
July 20, 2015Renu Zaretsky
Individual Taxes: TaxVox
Need help understanding the 1040 as we enter the homestretch of this year’s tax filing season? The Tax Policy Center has created a new interactive tool to walk you through key parts of the federal income tax, ranging from the mundane to the arcane. In bite-sized pieces, Who’s Afraid of the Form
March 18, 2015Roberton C. Williams
Individual Taxes: TaxVox
The tax subsidy for employer-sponsored health insurance is huge. Not only are the premiums exempt from income tax, they are also immune from Social Security payroll tax. The two subsidies combined will add more than $1.6 trillion to the deficit over the next five years alone. But because that
May 8, 2014Howard Gleckman
Individual Taxes: TaxVox
Federal income taxes are complicated. That’s why roughly 90 percent of us either hire someone to prepare our tax returns or use computer software to do the job on our own. Only a tenth of us actually sit down and fill out the forms by hand. But it’s still important to understand what goes onto the
April 9, 2014Roberton C. Williams
Individual Taxes: TaxVox
Differences in income and other characteristics mean that federal income tax burdens vary substantially across counties. While the median federal income tax burden across counties is about $3,400, approximately 10 percent of counties have average tax burdens less than $2,100 and around 10 percent
December 16, 2013Benjamin H. Harris
Individual Taxes: TaxVox
While relatively few low-income people pay federal income tax, a large and growing share owe Social Security and Medicare payroll taxes, according to new estimates by the Tax Policy Center. As a result, while about 43 percent of all households will pay no federal income tax this year, only 14
September 12, 2013Howard Gleckman
Individual Taxes: TaxVox
From the start of his 2008 campaign, President Obama has called for raising taxes on the rich. He got much but not all that he wanted in the American Taxpayer Relief Act (ATRA ) earlier this year. Now his FY2014 budget takes another couple of bites at that apple. The first repeats his proposal to
April 11, 2013Roberton C. Williams
Campaigns, Proposals, and Reforms: TaxVox
If you’re discussing tax policy with someone who asserts that his or her point is “just common sense,” this could indicate one of two things: Either no deep thought is required—as the person would have you believe. Or no deep thought has been applied. The “common sense” notion that capital income
March 15, 2013Chris Sanchirico