Tax Policy Center

itemized deduction

Individual Taxes: TaxVox
This post is part of the Tax Policy Center’s new series, Tax Line , which digs into the data behind the day’s most pressing tax...
August 10, 2016Chenxi Lu
Individual Taxes: TaxVox
Taxpayer use of itemized deductions varies widely by location, according to a new analysis of 2007 IRS data. In about one in ten counties, 11 percent or fewer taxpayers itemize while in another 10 percent at least 38 percent of taxpayers claim deductions. In a handful of counties, more than half of
March 7, 2014Benjamin H. Harris
Federal Budget and Economy: TaxVox
It turns out that President Obama’s plan to limit the benefit of itemized deductions is much more than that. Not only would it reduce tax savings for mortgages, charitable gifts, high medical costs, and the like, it would also curb tax breaks for owners of municipal bonds, workers who buy health
September 13, 2011Howard Gleckman