Individual Taxes: TaxVox

Rick Scott Walks Back His Tax Increase Plan...Sort Of

Senator Rick Scott (R-FL), who last February proposed taxing millions of low-income households that currently pay no income tax, has released a new version that...
June 10, 2022Howard Gleckman
: Daily Deduction

Maybe A Deal, Maybe An Inquiry

Treasury Secretary Yellen sees progress on the global tax deal.
June 9, 2022Renu Zaretsky
Business Taxes: Virtual Event

International Spillovers in Tax Policy

With globalization, national tax policies increasingly have international spillovers. In corporate tax, countries compete for investment from multinational enterprises by cutting statutory rates. And in...
June 8, 2022
: Daily Deduction

Yellen: Inflation Is “Unacceptable.”

Treasury Secretary tells Senate Finance Committee: Inflation is global; domestic policies can help Americans.
June 8, 2022Renu Zaretsky
Individual Taxes: TaxVox

Economic Well-Being Improved in 2021, But Will It Continue?

Even though jobs are plentiful and wages are up, many families still face a shaky economic outlook. Higher than average inflation, which tends to hit...
June 7, 2022Elaine Maag
Business Taxes: TaxVox

A Problematic Crypto Tax Break Introduced in the Senate

Sens. Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) today unveiled cryptocurrency legislation that seeks to provide regulatory clarity on a range of issues, including taxes...
June 7, 2022John Buhl
: Daily Deduction

Tick-Tock Goes The Budget Clock…

Democrats continue negotiations on a budget bill.
June 7, 2022Renu Zaretsky
Individual Taxes: Administration and ComplianceEnforcement: Examinations

Examination Coverage and Recommended Additional Tax After Examination, by Type and Size of Return, by Tax Year

June 6, 2022
: Daily Deduction

What Accounts For Booming Tax Receipts?

Individual income tax payments may soon break a record.
June 6, 2022Renu Zaretsky
Individual Taxes: Administration and ComplianceEnforcement: Examinations

Examination Coverage: Recommended Additional Tax, and Returns with Unagreed Additional Tax, After Examination, by Type and Size of Return, by Fiscal Year

June 6, 2022
Individual Taxes: Administration and ComplianceEnforcement: Examinations

Examination Coverage: Returns Examined Involving Protection of Revenue Base, by Type and Size of Return, by Fiscal Year

June 6, 2022
Individual Taxes: Administration and ComplianceEnforcement: Examinations

Examination Coverage: Returns Examined Resulting in Refunds, by Type and Size of Return, by Fiscal Year

June 6, 2022
Individual Taxes: Administration and ComplianceEnforcement: Examinations

Returns of Tax-Exempt Organizations, Employee Retirement Plans, Government Entities, and Tax-Exempt Bonds Examined, by Type of Return, by Fiscal Year

June 6, 2022
Individual Taxes: Administration and ComplianceEnforcement: Information Reporting and Verification

Information Reporting Program

June 6, 2022
Individual Taxes: Administration and ComplianceEnforcement: Information Reporting and Verification

Criminal Investigation Program, by Status or Disposition

June 6, 2022
The foreign tax credit prevents double-taxation of foreign-source income. In tax year 2019, only 6% of individual filers claimed the foreign tax credit, while 64% of taxpayers with adjusted gross income over $1 million claimed it.
June 6, 2022
Business Taxes: TaxVox

The Booming Economy, Not The 2017 Tax Act, Is Fueling Corporate Tax Receipts

Corporate tax revenues boomed in 2021 and some supporters of the 2017 Tax Cuts and Jobs Act argue that the big tax reductions in the...
June 3, 2022William G. GaleKyle PomerleauSteven M. Rosenthal
Federal Budget and Economy: Virtual Event

The Prescription: Fiscal Policy for Today’s Economy with Steven Dean

Our guest this week on The Prescription is Brooklyn Law School professor Steven Dean. He will discuss his most recent research on the racial inequities...
June 2, 2022
Individual Taxes: TaxVox

New GAO Report Underscores Importance of Better Data To Study Race and Taxes

While the federal income tax system may appear “colorblind” or race-neutral to some, it can mitigate or exacerbate racial inequities . Unfortunately, the IRS does...
June 2, 2022Aravind Boddupalli
Federal Budget and Economy: TaxVox

Should Congress Raise Taxes To Fight Inflation?

Should Congress Use Tax Hikes To Fight Inflation? In a Monday Wall Street Journal column (paywall), President Biden urged Congress to help fight inflation by...
June 2, 2022Howard Gleckman
Individual Taxes: TaxVox

Absent Roe v. Wade, Will “Qualifying Child” Mean More In The Tax Code?

Is tax law an appropriate place to decide whether a fetus is a child?
June 1, 2022Renu Zaretsky
State and Local Issues: Research report

An Update on the Synthetic Control Method as a Tool to Understand State Policy

In 2017, the Tax Policy Center published “The Synthetic Control Method as a Tool to Understand State Policy,” a guide for using the synthetic control method (SCM) as a quantitative adjunct to case studies. With it, analysts can evaluate cases in which there is a single treated unit and no readily
May 31, 2022Robert McClellandLivia Mucciolo
State and Local Issues: Brief

What is the Synthetic Control Method?

In 2010, Abadie, Diamond and Hainmueller used the synthetic control method to analyze a cigarette tax implemented in California in 1988. Since then, this method has been increasingly popular, with the original article garnering more than four thousand citations. Part of the synthetic control method
May 31, 2022Robert McClellandLivia Mucciolo
: Daily Deduction

Will June Be The Month For Budget Reconciliation?

Congress will return next week with modest hopes.
May 31, 2022Renu Zaretsky
Total tax revenue as a share of GDP was 26.2% across 38 OECD countries in FY 2020. The United States ranked 20th, with 25.5%.
May 30, 2022