: Daily Deduction

Reform, Roses, Bags, and Flows

Tune in at 9:00 am for a corporate tax reform conversation. Will Congress enact corporate tax reform in 2017, and what will it look like?
March 3, 2017Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Before We Reform Tax Policy, We Need to Know What Is Working

Congress and President Trump are embarking on what is likely to be a major rewrite of the federal income tax code. Yet, neither they nor...
March 2, 2017C. Eugene Steuerle
: Daily Deduction

Certainty, Math, Breaks and Claims

Senator Lindsey Graham would require all presidential candidates to release their tax returns
March 2, 2017Renu Zaretsky
Federal Budget and Economy: TaxVox

Trump's Fiscal Math Problem

This week, the Trump Administration said it would ask Congress for big increases in defense spending which it would finance by...
March 1, 2017Howard Gleckman
: Daily Deduction

The State of the Union's Tax Reform Is...

Unclear. The President spoke to a joint session of Congress last night.
March 1, 2017Renu Zaretsky
Individual Taxes: TaxVox

Them’s the Breaks: Taxing Retirement Income

When we moved to Michigan from Florida in 2014, we braced ourselves for a dramatic change in weather (hello, snow!) and our state tax bill (good-bye, income-tax-free Florida!). We also learned from a newly-retired Michigander that when the time comes, we’d have to pay the state’s 4.25 percent income tax on pension income.
March 1, 2017Renu Zaretsky
: Daily Deduction

A plan! A plan! My kingdom for a plan!

Tonight: The President may share some details of his budget plan.
February 28, 2017Renu Zaretsky
Individual Taxes: Brief

Who Benefits from President Trump's Child Care Proposals?

During the presidential campaign, Donald Trump proposed three new tax benefits related to child care – an expanded credit for low-income families, a deduction for higher income families, and a savings account. These proposals bring attention to the burden child care costs can place on low- and
February 27, 2017Lily L. BatchelderElaine MaagChye-Ching HuangEmily Horton
Business Taxes: TaxVox

What Markets Tell Us About The Prospects For a BAT

The House Republicans’ proposal for a border-adjustable tax (BAT)—a levy that would apply to imports but not exports—is causing a lot of consternation among retailers...
February 27, 2017Leonard E. Burman
: Daily Deduction

What we talk about when we talk about a border adjustable tax.

Trump on GOP’s border adjustable tax: Positively not an endorsement.
February 27, 2017Renu Zaretsky
Assets of active corporations have risen steadily since 1998, reaching $88 trillion in 2013.
February 27, 2017
Business Taxes: Brief

What is the Difference between the Current Corporate Income Tax and a Destination-Based Cash Flow Tax?

Tax Debate 2017
This year, Congress will consider what may be the biggest tax bill in decades. This is one of a series of briefs the Tax Policy Center has prepared to help people follow the debate. Each focuses on a key tax policy issue that Congress and the Trump administration may address. This brief compares
February 27, 2017Eric Toder
Business Taxes: TaxVox

In Praise of the Debate Over The Border Adjustable Tax

In Praise Of The Debate Over The Border Adjustable Tax With all the talk of fake news and alternative facts, it mostly has been a...
February 23, 2017Howard Gleckman
State and Local Issues: StateMain Features of State Tax Systems

Tax and Expenditure Limits

February 22, 2017
Business Taxes: TaxVox

The Border Adjustable Tax Can’t Shrink The Trade Deficit and Produce Trillions In New Revenue

Lawmakers who back a border adjustable tax make two fundamental arguments: The new levy will raise massive amounts of revenue to help pay for business...
February 21, 2017Howard Gleckman
: Daily Deduction

Powder, Knots, and Robots

Well, that doesn’t sound promising. House Speaker Paul Ryan says Senate Republicans should “keep their powder dry” and withhold criticism of the House GOP tax plan—they haven’t seen it yet, after all.
February 21, 2017Renu Zaretsky
41% of the 400 taxpayers with highest AGI incurred a marginal tax rate of 35% or more in 2012, down from more than 80% in 1995.
February 20, 2017
Individual Taxes: TaxVox

Investors respond to changes in capital gains tax rates, but less than you think

It is conventional wisdom that people adjust their investment patterns in response to upcoming changes in capital gains tax rates: They accelerate their gains if...
February 17, 2017Robert McClelland
: Daily Deduction

A New Budget Director, An Old Tax Plan, and Another March

The Senate confirmed Rep. Mick Mulvaney as OMB Director.
February 17, 2017Renu Zaretsky
Individual Taxes: High-Income

Returns of Taxpayers with the Top 400 Adjusted Gross Income

Selected tax items for the 400 individual income tax returns reporting the highest adjusted gross income (AGI) each year. The IRS discontinued this data series after tax year 2014.
February 16, 2017
: Daily Deduction

Following an Order, but Little Clarity about a Tax Plan

Heeding the President’s order, the IRS will accept tax returns that lack ACA coverage information.
February 16, 2017Renu Zaretsky
State and Local Issues: StateMain Features of State Tax Systems

State Rainy Day Fund Regulations

February 15, 2017
Individual Taxes: TaxVox

Delayed refunds? Looks like delayed filing, too.

Today could be a big day for many low- and moderate-income families. February 15 is the first day those who claim either an earned income...
February 15, 2017Elaine Maag
: Daily Deduction

Choices, Hacks, and a Hub

On the Hill: No tax return investigation; further review for ACA.
February 15, 2017Renu Zaretsky
State and Local Issues: StateMain Features of State Tax Systems

Summary of State Revenue Sources

February 14, 2017