Business Taxes: Distribution Tables by Income Level

T20-0127 - Distribution of Business Income, by Expanded Cash Income Level; Current Law, 2019

Distribution of tax units with business income by expanded cash income level, under current law for 2019 as of March 17, 2020
April 9, 2020
Business Taxes: Distribution Tables by Income Percentile

T20-0128 - Distribution of Business Income, by Expanded Cash Income Percentile; Current Law, 2019

Distribution of tax units with business income by expanded cash income percentile, under current law for 2019 as of March 17, 2020
April 9, 2020
Business Taxes: Other Tables

T20-0129 - Sources of Flow-Through Business Income by Statutory Marginal Tax Rate; Current Law, 2019

Distribution of tax units with flow-through business income by source of flow-through business income and statutory marginal tax rate, under current law for 2019 as...
April 9, 2020
Business Taxes: Distribution Tables by Income Level

T20-0130 - Sources of Flow-Through Business Income by Expanded Cash Income Level; Current Law, 2019

Distribution of tax units with flow-through business income by source of flow-through business income and expanded cash income level, under current law for 2019 as...
April 9, 2020
Business Taxes: Distribution Tables by Income Percentile

T20-0131 - Sources of Flow-Through Business Income by Expanded Cash Income Percentile; Current Law, 2019

Distribution of tax units with flow-through business income by source of flow-through business income and expanded cash income percentile, under current law for 2019 as...
April 9, 2020
: TaxVox

The CARES Act Boost In Unemployment Benefits Is Likely To Cost More Than Congress Projects. That’s a Feature, Not A Bug

The Coranavirus Aid, Relief, and Economic Security (CARES) Act expansion of Unemployment Insurance (UI) benefits is likely to cost far more than Congress’s original estimate...
April 9, 2020Benjamin R. Page
Individual Taxes: TaxVox

How The CARES Act Increases Charitable Deductions Without Helping Non-Profits Very Much

The Coronavirus Aid, Relief, and Economic Security (CARES) Act creates two new tax benefits for donors to non-profits. One will mostly benefit low- and middle-income...
April 8, 2020Howard Gleckman
: Daily Deduction

Three Coronavirus Relief Bills Are Now Law. As For The Fourth…

On to Coronavirus Stimulus #4.
April 6, 2020Renu Zaretsky
Wealth and debt vary widely by race or ethnicity. Between 1989 and 2016, the average net worth of non-Hispanic White families ranged from 4 to 7 times higher than for Black and Hispanic families.
April 6, 2020
: TaxVox

Low-Income Workers Without Children May Miss Out On The Coronavirus Rebates

To get the coronavirus rebates in the Coronavirus Aid, Relief, and Economic Security (CARES) Act this year, most people will have to file an income...
April 3, 2020Elaine Maag
State and Local Issues: Brief

State Revenue Forecasts Before COVID-19 and Directions Forward

The global pandemic caused by the novel coronavirus outbreak will dramatically affect state tax revenues over the next months and possibly years. This brief summarizes how state revenue forecasters viewed their state economies before the COVID-19 pandemic, as documented in governors’ proposed
April 2, 2020Lucy Dadayan
Individual Taxes: TaxVox

Treasury Now Will Send Coronavirus Payments to Social Security Beneficiaries Without Income Tax Returns. That May Be Bad News for Many.

Last night, the, the Treasury Department announced it was reversing course and would make direct coronavirus rebate payments to Social Security beneficiaries even if they...
April 2, 2020Howard Gleckman
: Commentary

How to Shore Up State and Local Budgets during a Coronavirus Recession

As the potential economic impact of a global pandemic starts to crystalize, there has rightly been a lot of discussion about how individuals and businesses will fare—and what governments can do to support them. But what will happen to government finances? In particular, what happens to U.S. state
April 1, 2020Therese J. McGuireKim S. Rueben
Federal Budget and Economy: TaxVox

Treasury Struggles With CARES Act Rebates To Social Security Beneficiaries

The Coronavirus Aid, Relief, and Economic Security (CARES) Act promises that low-income Social Security beneficiaries will automatically get their $1,200 COVID-19 rebate, but new guidance...
April 1, 2020Janet Holtzblatt
: TaxVox

The CARES Act Provided Important Relief For The Coronavirus Economy, But What Should Phase 4 Look Like?

Last week, Congress and President Trump enacted the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, the largest aid package in American history...
April 1, 2020Grace EndaWilliam G. GaleClaire Haldeman
Individual Taxes: TaxVox

Home Schooling Tax Policy: Or How We Spent Our First Week Of The Pandemic

The COVID-19 pandemic has given me the chance to teach (thanks to the internet) between three and nine students, ranging in ages from 8 to 15, how to think and write about one of my favorite topics: Taxes.
April 1, 2020Renu Zaretsky
Federal Budget and Economy: TaxVox

What Tax Experts Can Contribute: Lessons from World War II

The United States is facing an immense human tragedy. According to one influential analysis , up to 2 million Americans could die from COVID-19 in...
March 31, 2020Eric Toder
: TaxVox

Congress Must Do More To Help States And Localities Respond To COVID-19

The $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law last week will allocate roughly $200 billion in fiscal relief to...
March 30, 2020Tracy GordonRichard C. Auxier
: Daily Deduction

A Sigh of Relief, with Bated Breath

Coronavirus Relief #3 is now law.
March 30, 2020Renu Zaretsky
Individual Taxes: TaxVox

Free File Is An Easy Way For Government To Get Coronavirus Payments To Non-Filers

The federal government’s new coronavirus payments to adults and children will provide much-needed cash to 90 percent of US households. Unfortunately, tens of millions of...
March 30, 2020Howard GleckmanElaine Maag
Individual income tax refunds issued by IRS have increased steadily over time, but spiked between 2007 and 2010 due to the Economic Stimulus Act of 2008 and American Recovery and Reinvestment Act of 2009.
March 30, 2020
Federal Budget and Economy: Brief

The Decade of Deficits: The Latest Ominous Projections from the Congressional Budget Office

In January, the Congressional Budget Office (CBO) released its first economic and budgetary outlook of the decade. Even prior to the recent COVID-19 crisis, along with its attendant impact on the budget, CBO projected a deficit of more than $1 trillion for fiscal year 2020. The federal budget is on
March 27, 2020Erald KolasiC. Eugene Steuerle
: Daily Deduction

House Hopes to Pass $2 Trillion Coronavirus Relief Package Today

The lower chamber will “move quickly” to pass the Senate’s stimulus bill.
March 27, 2020Renu Zaretsky
Business Taxes: Corporate

Corporate Tax Returns, 1990 to 2013

Number of tax returns of active corporations and breakdowns of assets, liabilities, credits, receipts, and deductions, 1990 to 2013.
March 26, 2020
Business Taxes: Corporate

Corporate AMT Returns, 1998 to 2013

Number of alternative minimum tax (AMT) returns and details for active corporations, by industry.
March 26, 2020