Individual Taxes: Research report

Estimating the Effects of Tax Reform on Compliance Burdens

The Tax Policy Center (TPC), in conjunction with the Internal Revenue Service Office of Research, Applied Analytics and Statistics (RAAS), has recently developed distributional estimates of individual compliance costs for tax filers. This paper describes the process used by TPC to incorporate the
May 9, 2018Daniel BergerEric ToderVictoria L. BryantJohn L. GuytonPatrick Langetieg
Individual Taxes: TaxVox

Understanding The Appeal Of Claims That “47 Percent” Pay No Income Tax

It might be the best-known statistic in tax policy: 47 percent of federal tax filing households pay no net federal income tax. After the Tax...
May 8, 2018Vanessa Williamson
: Daily Deduction

Mum’s the Word about the TCJA?

Ix-nay on the Ax-tay Aw-lay… Some GOP candidates are quite quiet on the new tax law.
May 8, 2018Renu Zaretsky
: Daily Deduction

“Money burns a hole in my pocket…”

“How I wish I had millions of dollars and nothing to do…”
May 7, 2018Renu Zaretsky
Federal receipts totaled $3.3 trillion in 2017, of which 9% was from corporate income taxes. This share has varied over time; back in the early 1950s, corporate income tax receipts were more than 30% of total federal receipts.
May 7, 2018
: Daily Deduction

Earnings Up, State Tax Bills… Up in the Air.

The Tax Cuts and Jobs Act made for a very good quarter in corporate earnings.
May 4, 2018Renu Zaretsky
: Daily Deduction

Wings, Knocks, and Seeking Opportunity

On a wing and prayer… Senator Marco Rubio takes a walk back.
May 3, 2018Renu Zaretsky
Federal Budget and Economy: TaxVox

Has The TCJA Supercharged The Economy? The Data Don’t Show It.

President Trump often says the Tax Cuts and Jobs Act has provided “rocket fuel” that will supercharge the US economy. He may, eventually, be right...
May 2, 2018Howard Gleckman
State and Local Issues: TaxVox

Taxes and Public Education: We get what we pay for… When we want it.

How and why do our property tax dollars fund public education? It’s a tricky thing, asking taxpayers to pay for something they don’t feel they use every day. After all, some see public education as a public good that serves the overall economy and community. But others… don’t.
May 2, 2018Renu Zaretsky
: Daily Deduction

Tax Bills, Petitions, and Growth

Why CBO thinks the TCJA will cost $433 billion more than in December.
May 2, 2018
: Daily Deduction

Telling it like it is… Taxing what you can.

The tax bill is enriching corporations, not workers, says a… GOP senator?
May 1, 2018Renu Zaretsky
Federal Budget and Economy: TaxVox

CBO Thinks The TCJA Will Cost $433 Billion More Than Last December’s Estimate. What Happened?

In its April fiscal update , the Congressional Budget Office estimated that the Tax Cuts and Jobs Act (TCJA) would increase the federal debt by...
April 30, 2018Benjamin R. Page
: Daily Deduction

Tolls, Tax Cuts, and More Talk

The Trump Administration offers transportation grants to states that raise taxes.
April 30, 2018Renu Zaretsky
In 2015, state and local revenue from tobacco taxes totaled $18.2 billion. Five states (FL, IL, NY, PA, TX) had revenues exceeding $1 billion each; on a per capita basis, NH was the highest with about $178 and SC was the lowest with $5.
April 30, 2018
: Daily Deduction

On Marriage, Home, and Marijuana

Just in time for wedding season: The marriage bonus, or penalty, after the TCJA.
April 27, 2018Renu Zaretsky
Federal Budget and Economy: TaxVox

Are We Beginning An Historic Debate Over Work In the US?

Are We Beginning An Historic Debate Over Work In The US? What should the federal government do to encourage people to work? Should it try...
April 27, 2018Howard Gleckman
: TaxVox

TPC Releases Updated Marriage Penalty and Bonus Calculator For 2018, Including The TCJA

Just in time for wedding season, the Tax Policy Center has released an updated version of our Marriage Bonus and Penalty Calculator . The calculator...
April 26, 2018Daniel Berger
: Daily Deduction

Tax Cut? What Tax Cut?

Fewer voters are noticing bigger paychecks post-TCJA.
April 26, 2018Renu Zaretsky
: Daily Deduction

To worry… Or not to worry. That is the question.

Voters’ concerns about the national debt are rising.
April 25, 2018Renu Zaretsky
: Daily Deduction

Hurry Up and Wait, or… Knock, Knock?

The IRS remains without a leader.
April 24, 2018Renu Zaretsky
State and Local Issues: TaxVox

Ready, Or More Often Not, States Make Big Tax Changes

When Congress passed the Tax Cuts and Jobs Act (TCJA) in December, it forced states to confront major tax policy issues of their own ,...
April 23, 2018Richard C. Auxier
Federal Budget and Economy: TaxVox

CBO’s Grim Budget Forecast Underestimates The Nation’s True Fiscal Problems

CBO recently released new budget projections that incorporate the 2017 tax act and the 2018 spending deals. In a new paper with Alan J. Auerbach,...
April 23, 2018William G. GaleAaron Krupkin
: Daily Deduction

Benefits, Banks, Buyers and Business

Shouldn’t tax cuts be easy to sell before midterm elections?
April 23, 2018Renu Zaretsky
In 2015, total gross estate reported on estate tax returns was $167.4 billion. About 25% of the total was publicly traded stock, and about 17% was real estate investments and personal residences. Other assets made up smaller shares.
April 23, 2018
Federal Budget and Economy: Research report

The Federal Budget Outlook: Even Crazier After All These Years

We examine the budget outlook, given new Congressional Budget Office (CBO) projections that reflect the recently enacted tax bill and spending deals. The prospect of routine trillion-dollar deficits has dominated public response to CBO’s report, but the underlying problem is even more serious.
April 23, 2018Alan J. AuerbachWilliam G. GaleAaron Krupkin