Tax-exempt organizations are subsidized relative to taxable organizations because income related to furthering their core mission is excluded from income tax. The value of this subsidy is unclear. There is no government-provided estimate, and the tax benefit for any organization depends on the...
Supreme Court rulings in 2013 and 2015 established and expanded rights to same-sex marriage in the U.S. One of the most visible and impactful ways the federal government recognized these new rights was by allowing—indeed, requiring—legally-married same-sex couples to file federal tax returns as...
The Tax Cuts and Jobs Act of 2017 leaves many promises of tax reform unfulfilled. In this paper, we examine the plan’s prospects to boost future growth, and discuss fundamental reforms that would boost the stock of capital and generate sustained, long-term growth. After making the case that the...
This paper provides new estimates of the number and characteristics of same-sex married couples after Supreme Court rulings in 2013 and 2015 established rights to same-sex marriage. Treasury and the Internal Revenue Service (IRS) subsequently ruled that same-sex spouses would be treated as...
A tax deduction intended to encourage conservation of environmentally important land and historic buildings has become a lucrative way for real estate developers to finance development projects—cheating the government out of billions of dollars of revenue and in some cases doing little to...
This brief discusses the abuse of tax deductions intended to encourage conservation of environmentally friendly land and historic buildings. This abuse is on the rise and a key policy question is whether this tax expenditure represents a good return on the scarce dollars the federal government...
To help understand the policy considerations surrounding the taxation of pass-through businesses and the implications of potential reforms, here are nine facts about pass-throughs and the current U.S. approach to taxing business.
Tax reform ideas played an important role in the recent Presidential election. Republican candidate Mitt Romney proposed large tax cuts and other changes that he said could be part of a revenue-neutral tax reform that also retained low rates on savings and investment and would not raise taxes on...
A recent TPC paper examined tradeoffs among revenues, progressivity and tax rates in tax reform. It concluded that, under certain assumptions, any revenue-neutral plan along the lines Governor Romney has outlined would reduce taxes for high-income households, thus requiring higher taxes on other...
A relatively small number of non-profit organizations where revenues exceed expenses save as much as $21 billion in taxes annually, new research by Nathan Born...
On Monday, the Administration released its deficit reduction blueprint . One part of the Administration’s proposal, which has received enormous attention, is that the Joint...
