Tax Policy Center

small businesses

Business Taxes: TaxVox

What We Are Learning About Firms That Received PPP Loans in 2020

The Paycheck Protection Program (PPP) was considered essential to last year’s bipartisan COVID-19 relief packages, and many policymakers initially hailed the CARES Act version as...
February 18, 2021Aravind Boddupalli
: TaxVox

COVID-19 Has Turned Much of What We Thought We Knew About City Finances Upside Down

For cities, the COVID-19 economy is turning many winners into losers.
September 29, 2020Tracy GordonRichard C. AuxierAravind Boddupalli
Business Taxes: TaxVox

Tax 101: Expenses Reimbursed With COVID-19 Aid Should Not Be Deductible

Treasury Secretary Steven Mnuchin and the IRS are right: Because the hundreds of billions of dollars the businesses are getting through the Coronavirus Aid, Relief,...
May 8, 2020Steven M. Rosenthal
: TaxVox

Heads I Win, Tails I Win Too: Winners From The Tax Relief For Losses In The CARES Act

The Coronavirus Aid, Relief, and Economic Security (CARES) Act grants massive tax relief for business losses, but most of the benefits will be reaped by...
April 20, 2020Steven M. RosenthalAravind Boddupalli
Federal Budget and Economy: TaxVox

Macroeconomic Policy In The Time Of COVID-19

COVID-19 poses a severe threat not only to public health but also to the overall U.S. economy. The Nation’s policy response should focus on three...
March 17, 2020Donald Marron
Individual Taxes: TaxVox

The IRS Audit Rate is Plummeting. Does It Matter?

The IRS has reported that its overall audit rate is continuing to fall , especially for businesses and high-income individual taxpayers. The Service audits less...
April 2, 2018Howard Gleckman
: TaxVox

Ways To Reform Taxation Of Small Business

On June 14, I testified before the Senate Small Business and Entrepreneurship Committee on how tax reform might affect small business. I delivered two key...
June 16, 2017Mark J. Mazur
: TaxVox

Death and Taxes: Certainty and Conflict

The House plans a vote to repeal the estate tax today. Repealing the levy would cut taxes by $270 billion over 10 years for 0.2 percent of the nation’s richest estates. The White House and Democrats are vehemently opposed . The Joint Committee on Taxation estimates that 5,400 estates will face the
April 16, 2015Renu Zaretsky
: TaxVox

Happy Tax Day! Who Will Pay?

No Virginia. The One Percent don’t dodge federal taxes . In 2013, they paid 35.7 percent of their income in federal taxes. Low-income households don’t dodge, either. While many paid no income tax, nearly all paid payroll tax. You can start your Tax Day exploring these and other common myths as TPC’
April 15, 2015Renu Zaretsky