Like all presidential budgets, President Biden’s fiscal year 2024 proposals reflect the priorities he would set for the nation. As in prior years, Biden would...

New mothers , families with low incomes , and immigrant parents often miss out on tax benefits by failing to file returns. But with tax...

The Family Security Act 2.0 (FSA 2.0) framework introduced this past June by Senators Mitt Romney (R-UT), Steve Daines (R-MT), and Richard Burr (R-NC) emerged...

The Biden administration’s plan for broad-based student loan forgiveness of up to $20,000 per individual won’t affect borrowers’ federal tax bills, but it could have...

It’s always tempting to exaggerate the importance of the latest big fight in Congress. The Inflation Reduction Act of 2022 (IRA) made some major policy...

While average effective tax rates barely changed in the US from 1945 to 2015, the average tax rates of high-income households fell sharply—from about 50...

In 2017 and again in 2020, Congress made deficient—but temporary—changes to the federal income tax deduction for charitable giving. By significantly increasing the standard deduction,...

Last week, President Biden signed the American Rescue Plan (ARP) into law. And the Child Tax Credit (CTC) that began life in 1998 as a...

With Joe Biden in the White House and narrow control of the Congress, Democrats are likely to try to restore the full state and local...

The COVID-19 pandemic is changing the face of child care.

Say you came into possession of some illegal drugs. What’s your next move? According to some states, you should immediately pay the state’s tax on...

The coronavirus recession has dealt a devastating blow to millions of US workers with consequences that could persist for years.

For the individual income tax, effective tax rates — measured as federal income tax divided by adjusted gross income (AGI) —have fallen significantly over the...

More than 300 tax ideas explained