Federal Budget and Economy: TaxVox

How Will The Coronavirus Stimulus Bill’s Individual Payments Work?

For many households, the most important provision of the massive $2.2 trillion stimulus bill passed by the Senate last night will be the individual cash...
March 26, 2020Howard Gleckman
: Daily Deduction

The checks are not yet in the mail.

Crawling toward the finish line.
March 26, 2020Renu Zaretsky
Business Taxes: Corporate

Foreign Source Taxable Income

Number of returns, U.S. and foreign-source income and taxes, foreign tax credit, by industry.
March 25, 2020
Individual Taxes: Other Tables

T20-0123 - Aggregate AMT Projections and Recent History, 1970-2030

Historical values and projections of the number of AMT taxpayers and aggregate AMT revenue under current law for 1970-2030. Baseline is the law in place...
March 25, 2020
Individual Taxes: Other Tables

T20-0124 - Characteristics of Alternative Minimum Tax (AMT) Payers; Percentage Affected by the AMT, 2017, 2019, 2025-2026

Percent of tax units affected by the AMT by income level and filing status. Estimates are for current law In 2017, 2019, and 2025-2026. Baseline...
March 25, 2020
Individual Taxes: Other Tables

T20-0122 - Aggregate AMT Projections, 2017-2030

March 25, 2020
Individual Taxes: Distribution Tables by Income Percentile

T20-0121 - Distribution of Tax Units with Zero or Negative Income Tax, By Expanded Cash Income Percentile, 2026

The distribution of tax units that pay no individual income tax by expanded cash income percentile under current law in 2026. Baseline is the law...
March 25, 2020
Individual Taxes: Distribution Tables by Income Percentile

T20-0120 - Distribution of Tax Units with Zero or Negative Income Tax, By Expanded Cash Income Level, 2026

The distribution of tax units that pay no individual income tax by expanded cash income level under current law in 2026. Baseline is the law...
March 25, 2020
Individual Taxes: Distribution Tables by Income Percentile

T20-0119 - Distribution of Tax Units with Zero or Negative Income Tax, By Expanded Cash Income Percentile, 2019

The distribution of tax units that pay no individual income tax by expanded cash income level under current law in 2019. Baseline is the law...
March 25, 2020
Individual Taxes: Distribution Tables by Income Level

T20-0125 - Distribution of Tax Units with Zero or Negative Income Tax, By Expanded Cash Income Level, 2019

The distribution of tax units that pay no individual income tax by expanded cash income level under current law in 2019. Baseline is the law...
March 25, 2020
Individual Taxes: TaxVox

How Soon Can The IRS Get Coronavirus Payments Out The Door?

During last month’s Democratic presidential debate, moderator Gayle King asked the candidates what motto guided their lives. If Oprah’s best friend ever asks me, I...
March 25, 2020Janet Holtzblatt
Federal Budget and Economy: TaxVox

Is The Stimulus Rebate A Universal Basic Income?

Congress is about to pass a massive economic stimulus package that will, among other things, send cash to most American households. The so-called rebates amount...
March 25, 2020Leonard E. Burman
: Daily Deduction

Help Is On The Way, Maybe

Stimulus 3: Creeping toward a deal.
March 25, 2020Renu Zaretsky
: Daily Deduction

Stimulus Stalemate

Still no agreement on Stimulus 3.
March 24, 2020Renu Zaretsky
Individual Taxes: TaxVox

Direct Payments In Coronavirus Stimulus Bill Are Well Targeted to Low- And Middle-Income Households

The direct payments (called recovery rebates) included in the Senate’s latest coronavirus stimulus plan would target two-thirds of their benefits to low- and middle-income households,...
March 23, 2020Howard Gleckman
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T20-0118 - Senate Republican Recovery Rebate in H.R.748 for which Motion to Invoke Cloture Failed on March 22, 2020: Distribution of Federal Tax Change by Expanded Cash Income Percentile

The distribution of the rebate, as proposed in H.R.748, for which Motion to Invoke Cloture Failed on March 22, 2020, by expanded cash income percentile...
March 23, 2020
Campaigns, Proposals, and Reforms: Distribution Tables by Income Level

T20-0117 - Senate Republican Recovery Rebate in H.R.748 for which Motion to Invoke Cloture Failed on March 22, 2020: Distribution of Federal Tax Change by Expanded Cash Income Level

The distribution of the rebate, as proposed in H.R.748, for which Motion to Invoke Cloture Failed on March 22, 2020, by expanded cash income level...
March 23, 2020
: Daily Deduction

Massive Stimulus Delayed… A Day? Tax Day Delayed for 90 Days

Stimulus Part 3: Still in the works.
March 23, 2020Renu Zaretsky
The EITC is the most effective anti-poverty program for low- and moderate-income working families. In 2017, the federal credit was claimed by 18% of all individual income tax returns, and over 25% of returns in Louisiana and Mississippi.
March 23, 2020
Campaigns, Proposals, and Reforms: Distribution Tables by Income Level

T20-0114 - Senate Republican Recovery Rebate: Distribution of Federal Tax Change by Expanded Cash Income Level

The distribution of the rebate, as proposed in the Senate Republican leadership's Recovery Rebate bill, by expanded cash income level.
March 20, 2020
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T20-0115 - Senate Republican Recovery Rebate: Distribution of Federal Tax Change by Expanded Cash Income Percentile

The distribution of the rebate, as proposed in the Senate Republican leadership's Recovery Rebate bill, by expanded cash income percentile.
March 20, 2020
Campaigns, Proposals, and Reforms: Other Tables

T20-0116 - Senate Republican Recovery Rebate: Size of Rebate Amount by Expanded Cash Income Level

The size of the rebate by expanded cash income level, as proposed in the Senate Republican leadership's Recovery Rebate bill.
March 20, 2020
: Daily Deduction

Coronavirus Stimulus Talks: Less Than Warp Speed

Round Three of the stimulus is going to take a little longer.
March 20, 2020Renu Zaretsky
Campaigns, Proposals, and Reforms: Brief

An Analysis of Senator Sanders's Tax Proposals

In this brief, we estimate the revenue and distributional effects of Senator Bernie Sanders’s 2020 campaign tax proposals. We show the revenue and distributional implications of tax proposals excluding those related to his Medicare for All plan. We also report the revenue estimates (but not the
March 19, 2020TPC Staff
Campaigns, Proposals, and Reforms: TaxVox

Sanders Proposes a $23 Trillion Tax Increase, Mostly On High-Income Households And Businesses

Excluding tax hikes to fund Medicare for All, Sanders would boost federal revenue by about 3.6 percent of gross domestic product.
March 19, 2020Howard Gleckman