Individual Taxes: TaxVox

The Road To Abusive Tax Shelters Is Paved with Good Intentions

Conserving nature—not paving over it—is "pretty cool," so much so that our tax code has for decades offered an tax incentive to do it through “conservation easements.” But a certain kind of scam has taken that incentive to another level entirely.
September 2, 2020Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Would Joe Biden Raise Taxes on Low- and Moderate-Income Families? It Depends on What You Mean by Taxes

Is Democratic presidential candidate Joe Biden proposing to raise taxes on low- and middle-income households? He emphatically says no. President Trump and his allies say...
September 1, 2020Howard Gleckman
: Daily Deduction

A Deadlock, A List, and Some Guidance

There’s been little headway on coronavirus relief.
August 31, 2020Renu Zaretsky
Most US businesses are nonfarm sole proprietorships, which have comprised about 70% or more of business tax returns filed each year since 1980. These businesses accounted for 4.3% of total business receipts in 2015.
August 31, 2020
Campaigns, Proposals, and Reforms: TaxVox

Donald Trump’s Bullet Point Tax Agenda

President Trump is formally kicking off his reelection campaign with a couple of pages of bullet points. It makes for a thin tax policy agenda.
August 25, 2020Howard Gleckman
Business Taxes: Research report

State Tax and Economic Review, 2020 Quarter 1

States Enjoyed Solid Revenue Growth in the First Quarter of 2020, Followed by a Freefall Drop
State government tax revenues showed year-over-year growth at 4.2 percent in the first quarter of 2020. However, preliminary data indicate double-digit declines in state government tax revenues in the second quarter of 2020 because of the COVID-19 pandemic and government responses. States’ economic
August 25, 2020Lucy Dadayan
: Daily Deduction

Action, Reaction, and Rejection

A middle ground on COVID-19 relief?
August 24, 2020Renu Zaretsky
The minimum wage for most non-tipped employees is equal to the federal rate of $7.25 an hour in 21 states. For the other 29 states and DC, the minimum wage averages just over $10.50 per hour, ranging up to $15 an hour in DC.
August 24, 2020
Individual Taxes: Virtual Event

The Prescription: Fiscal Policy for the COVID-19 Economy with Caroline Bruckner

This Week’s Guest: Caroline Bruckner The Urban-Brookings Tax Policy Center is holding a series of online conversations on policy responses to the COVID-19 economy. The...
August 20, 2020
Individual Taxes: TaxVox

Uber, Taxes, and the Question of Who’s an Employee in the Gig Economy

Uber and Lyft are threating to shut down operations in California because the state considers their drivers employees rather than independent contractors. The distinction might...
August 20, 2020Richard C. Auxier
Individual Taxes: Research report

Description of the Tax Policy Center’s Improved Methodology for Analysis of the Taxation of Pass-Through Income

Technical Methodology Report
This report describes the Tax Policy Center’s (TPC’s) improved methodology for analyzing the taxation of pass-through income (income generated through business activities that is taxed at the individual level). Under current law, certain types of pass-through income are taxed at different rates
August 19, 2020Benjamin R. PageJeffrey RohalyThornton Matheson
Campaigns, Proposals, and Reforms: TaxVox

Biden’s Tax Hikes May Be A Tough Sell In 2021. What If He Paired Them With Big Refundable Tax Credits?

The real question for Biden is how much of his ambitious tax plan could Congress realistically pass next year.
August 19, 2020Howard Gleckman
Federal Budget and Economy: OverviewComposition of TaxesStateFederal Tax Components and Credits by State

Gross Collections, by Type of Tax and State

Federal tax collections by tax type and state from 1998 to 2019.
August 18, 2020
: Daily Deduction

Big Asks, Smaller Fines and Fees… They All Add Up

A president can’t raise taxes by himself.
August 17, 2020Renu Zaretsky
: Daily Deduction

Big Asks, Smaller Fines and Fees… They All Add Up

A president can’t raise taxes by himself.
August 17, 2020Renu Zaretsky
According to OECD calculations, the top marginal income tax rate on wage income (including federal, state, and local levels) was 46% for the US in 2018. The US ranked 22nd out of 36 OECD countries.
August 17, 2020
State and Local Issues: TaxVox

Fines and Forfeitures and Racial Disparities

Some evidence suggests that fines and fees, much like policing, are also closely intertwined with issues of structural racism.
August 14, 2020Sarah CalameAravind Boddupalli
: Daily Deduction

“Do you remember the (whatever) night of September?”

“Love was (not) changing the minds of pretenders?”
August 14, 2020Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Senator Kamala Harris Proposed A Bold Tax Credit To Help Low- And Middle-Income Workers

As a senator, Kamala Harris has proposed broad legislation designed to raise the incomes of low- and middle-income workers via her LIFT the Middle Class Act.
August 13, 2020Elaine Maag
: Daily Deduction

With Friends Like These...

Does Congress need to make a deal if the President can cut taxes by himself?
August 13, 2020Renu Zaretsky
State and Local Issues: TaxVox

Trump Executive Action Shows Why Congress Should Federalize More of Unemployment Insurance

President Trump’s August 8th executive action creating a new supplemental weekly unemployment benefit has created mass confusion.
August 12, 2020Tracy Gordon
: Daily Deduction

Cuts, Cuts, Cuts

Employers aren’t all that keen on Trump’s payroll tax cut.
August 12, 2020Renu Zaretsky
: Daily Deduction

Deals, Deficits, and Medical Marijuana

Deal or No Deal?
August 11, 2020Renu Zaretsky
Federal Budget and Economy: TaxVox

Trump The Disrupter Takes Dead Aim At Social Security

Throughout the 3 ½ years of his presidency, Donald Trump has disrupted nearly every major institution of government, save one.
August 10, 2020Howard Gleckman
: Daily Deduction

“Anything You Can Do, I Can Do Better…”

“I can do anything better than you.”
August 10, 2020Renu Zaretsky