Business Taxes: TaxVox

Joe Manchin Just Made A Great Argument In Support of A Carbon Tax

West Virginia Senator Joe Manchin set off environmentalists last week when he said tax credits to subsidize the purchase of electric vehicle (EV) tax credits...
May 3, 2022Howard Gleckman
: Daily Deduction

Ballot Proposals Advance, Or Don’t, While Inflation Boosts Some Tax Revenues

Business groups want the Massachusetts high court to revise a millionaires’ tax referendum.
May 3, 2022Renu Zaretsky
Campaigns, Proposals, and Reforms: Virtual Event

Wealth Taxation in Defense of Equal Citizenship

Wealth inequality is often discussed in terms of its economic effects rather than its political implications. But money is a form of power, and the...
May 2, 2022
: Daily Deduction

Improving the Charitable Deduction and Free File, Trashing EV Tax Credits

Reforming the charitable deduction.
May 2, 2022Renu Zaretsky
State governments and local governments rely upon a different mix of taxes for their revenues. In FY 2019, states relied more on sales taxes and individual income taxes, whereas localities mostly relied upon property taxes.
May 2, 2022
: Daily Deduction

Ukraine Aid, Wealth Taxation, And A Retroactive SALT Workaround

Biden proposes $22 billion in Ukraine aid.
April 29, 2022Renu Zaretsky
Individual Taxes: TaxVox

Congress Can More Modestly Expand The Child Tax Credit And Still Help Very Low-Income Families

As President Biden and congressional Democrats make another push to reach a compromise on a social spending, climate change, and tax bill, a key issue...
April 28, 2022Elaine MaagLillian Hunter
Individual Taxes: TaxVox

How to Undertake Reform of the Charitable Deduction

Among its many changes, the 2017 Tax Cuts and Jobs Act substantially increased the share of federal income taxpayers taking the standard deduction, leaving fewer...
April 28, 2022C. Eugene Steuerle
: Daily Deduction

All I Want For Reconciliation Is A…

Manchin offers more (familiar) specifics for a revised reconciliation bill.
April 28, 2022Renu Zaretsky
Business Taxes: TaxVox

Biden’s “Undertaxed Profit Rule” Would Complete US Adoption of BEPS Pillar 2

President Biden’s 2023 budget would replace the current 10 percent base erosion anti-avoidance tax (BEAT) on US subsidiaries of foreign corporations with a 15 percent...
April 27, 2022Thornton MathesonThomas Brosy
: Daily Deduction

A Climate-Only Bill, A Fed Confirmation, An Affirmed Power

Manchin’s latest.
April 27, 2022Renu Zaretsky
: Daily Deduction

Returning, Refunds, Rebates, and Revenues

Congress is back, with Ukraine and COVID-19 funding on its plate.
April 26, 2022Renu Zaretsky
Business Taxes: Virtual Event

What Can the United States Learn from Tax Reform in Developing Countries?

The Tax Policy Center’s Seventh Annual Donald C. Lubick Symposium will explore the challenges faced by developing countries that attempt to reform their tax systems...
April 25, 2022
: TaxVox

Volunteer Tax Prep Is A Crash Course in Pandemic Tax Policy

A few Tax Policy Center staffers and I spend tax season volunteering for the IRS's Volunteer Income Tax Assistance (VITA) program, providing free tax preparation...
April 25, 2022Richard C. Auxier
: Daily Deduction

The State Giveth And The State Taketh Away

Disney, DeSantis and that special tax district.
April 25, 2022
Per the US Census Bureau, state and local governments collected $28.9 billion from net lottery revenue in FY 2019. Six states did not have state lotteries; among those that did, revenue per capita ranged from Wyoming's $18 to Rhode Island's $387.
April 25, 2022
Individual Taxes: Distribution Tables by Income Level

T22-0009 – Extend ARP Child Tax Credit Expansion, but Lower Phase Out Thresholds for Additional $1,000/$1,600 Credit to $120,000 for Joint Filers/$90,000 for Heads of Household/$60,000 for Others Distribution of Federal Tax Change by Expanded Cash Income

April 22, 2022
Individual Taxes

T22-0010 – Extend ARP Child Tax Credit Expansion, but Lower Phase Out Thresholds for Additional $1,000/$1,600 Credit to $120,000 for Joint Filers/$90,000 for Heads of Household/$60,000 for Others Distribution of Federal Tax Change by Expanded Cash Income

April 22, 2022
Individual Taxes: Distribution Tables by Income Level

T22-0011 – Extend ARP Child Tax Credit Expansion, but Lower Phase Out Thresholds for Full Credit to $150,000 for Joint Filers/$112,500 for Heads of Household/$75,000 for Others Distribution of Federal Tax Change by Expanded Cash Income Level, 2022

April 22, 2022
Individual Taxes: Distribution Tables by Income Percentile

T22-0012 – Extend ARP Child Tax Credit Expansion, but Lower Phase Out Thresholds for Full Credit to $150,000 for Joint Filers/$112,500 for Heads of Household/$75,000 for Others Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2022

April 22, 2022
Individual Taxes: Distribution Tables by Income Percentile

T22-0006 – Make the Child Tax Credit (CTC) Fully Refundable Regardless of Income Tax Liability or Earned Income Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2022

April 22, 2022
Individual Taxes: Distribution Tables by Income Level

T22-0007 – Extend ARP Child Tax Credit Expansion, but Phase Out Additional $1,000/$1,600 Credit at Same Rates as Third Economic Impact Payment Distribution of Federal Tax Change by Expanded Cash Income Level, 2022

April 22, 2022
Individual Taxes: Distribution Tables by Income Percentile

T22-0008 – Extend ARP Child Tax Credit Expansion, but Phase Out Additional $1,000/$1,600 Credit at Same Rates as Third Economic Impact Payment Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2022

April 22, 2022
Individual Taxes: Distribution Tables by Income Level

T22-0005 – Make the Child Tax Credit (CTC) Fully Refundable Regardless of Income Tax Liability or Earned Income Distribution of Federal Tax Change by Expanded Cash Income Level, 2022

April 22, 2022
Individual Taxes: Distribution Tables by Income Percentile

T22-0004 – Extend the American Rescue Plan (ARP) Act's Increase the CTC Credit Amount and Modification of Age Requirements and Make CTC Fully Refundable Regardless of Income Tax Liability or Earned Income by Expanded Cash Income Percentile 2022

April 22, 2022