Business Taxes: TaxVox

Let The Dust Settle On The TCJA Before Judging Its Effectiveness

TPC’s Steve Rosenthal and American Enterprise Institute resident scholar Aparna Mathur recently debated the corporate tax provisions of the 2017 Tax Cuts and Jobs Act...
February 24, 2020Aparna Mathur
: Daily Deduction

Digital Tax Talks and Agricultural Purchase Promises

At the G20 meeting, most financial leaders appear ready for a global minimum digital tax. The US is not.
February 24, 2020Renu Zaretsky
State general sales tax rates range from 2.9% in Colorado to 7.25% in California. Five states do not have a statewide general sales tax. In most states, localities also levy sales taxes, increasing the total sales tax rate paid.
February 24, 2020
Individual Taxes: Other Tables

T19-0146 - Economic Security Project's Cost-of-Living Refund with Patch; Baseline: Current Law; Estimated number of caregivers receiving benefit from CLR by State, 2020

Distribution of tax units by state that benefit from expanding the Economic Security Project's Cost-of-Living Refund for family caregivers.
February 21, 2020
Individual Taxes: Revenue Tables

T19-0143 - Economic Security Project's Cost-of-Living Refund with Patch; Credit expanded for caregivers; Baseline: Current Law; Expenditures, $ Billions, 2019-2028

Expenditure effects of the Economic Security Project's Cost-of-Living Refund proposal, compared to current law as of January 1, 2019. Estimates show the proposed credit, which...
February 21, 2020
: Daily Deduction

Non-profits, Caregivers, Carbon Capture, and State Tax Developments

Do tax-exempt non-profits have a future?
February 21, 2020Renu Zaretsky
Individual Taxes: TaxVox

Expanding The EITC To Include Family Caregivers

A handful of the remaining Democratic presidential candidates remain committed to increasing the earned income tax credit (EITC), particularly for workers without children at home...
February 21, 2020Elaine Maag
Individual Taxes: TaxVox

Are Tax Breaks For Non-Profits And Their Donors Worth Saving?

The special tax treatment Congress has granted to non-profits and tax deduction it gives their donors are broken. So broken, in fact, that it is...
February 20, 2020Howard Gleckman
: Daily Deduction

“Someone’s knockin’ at the door…”

“Somebody’s ringin' the bell.” It’s the IRS!
February 20, 2020Renu Zaretsky
Business Taxes: TaxVox

Did TCJA’s Corporate Rate Cuts Work As Promised? No Signs Yet.

Last week , I debated American Enterprise Institute resident scholar Aparna Mathur on the question of whether the corporate income tax rate cuts from the...
February 19, 2020Steven M. Rosenthal
: Daily Deduction

Transaction Taxes, Digital Taxes, and Tax Compliance

Presidential candidate Mike Bloomberg proposes a financial transactions tax.
February 19, 2020Renu Zaretsky
: TaxVox

How Can We Increase EITC Participation?

The IRS and Census Bureau estimate that only about 78 percent of people who are eligible for the earned income tax credit (EITC) get it...
February 18, 2020Elaine Maag
Campaigns, Proposals, and Reforms: Conference

Taxes and the Future of Philanthropy

The philanthropic sector currently faces a difficult challenge: Recent changes to the tax law leave only about 10 percent of households, mainly with higher incomes,...
February 18, 2020
: Daily Deduction

Protecting and Buying

What does “protect" Social Security really mean?
February 18, 2020Renu Zaretsky
The federal excise tax on gasoline is 18.4 cents per gallon, and has not increased since 1993. If the tax rate was adjusted for inflation since 1993, it would be 33 cents per gallon in 2020.
February 17, 2020
: TaxVox

What Do The Sanders-Biden Fights Over Protecting Social Security Mean?

One verb, multiple meanings
February 14, 2020C. Eugene Steuerle
: TaxVox

A Valentine’s Day Gift: An Updated Marriage Bonus And Penalty Tax Calculator

Does Valentine’s Day make you think about marriage? If you need one more reason to take that step, consider that Uncle Sam may already have...
February 14, 2020Frank Sammartino
: Daily Deduction

Expenses Are Red, Tariffs Are Blue; Gamers, Bingers, and Women… There’s Tax News For You, Too

GOP Sen. Pat Toomey: Make “full expensing” permanent.
February 14, 2020Renu Zaretsky
: Daily Deduction

A Withdrawal, The Return Of Rosy Scenario, And Maximizing The TCJA

White House withdraws its nomination of Jessie Liu for Treasury post.
February 13, 2020Renu Zaretsky
Federal Budget and Economy: TaxVox

Trump’s 10 Year Revenue Estimates Would Fall By At Least $3 Trillion With Realistic Economic Assumptions

The Trump Administration would miss its revenue targets by at least $3 trillion under more realistic economic assumptions...
February 12, 2020Howard Gleckman
: Daily Deduction

A Debate, A Drink, A Poll, and Projections

Corporate tax cuts: The messaging battle continues.
February 12, 2020Renu Zaretsky
Individual Taxes: TaxVox

Trump’s Private Education Tax Credit Is Wrong-Headed And Badly Designed

I often see tax proposals that are well-intentioned but poorly designed. I sometimes see ideas that are well designed but wrong-headed. President Trump's private education tax credit is both...
February 11, 2020Howard Gleckman
: Daily Deduction

A Budget, Some SALT, Homelessness, and Farmers

The President released his election-year budget.
February 11, 2020Renu Zaretsky
State and Local Issues: TaxVox

We Don’t Know If The SALT Cap Is Driving Away Residents Of High-Tax States

Has the $10,000 cap on the state and local tax (SALT) deduction included in the 2017 Tax Cuts and Jobs Act produced a mass migration...
February 10, 2020Lucy DadayanNoah Zwiefel
: Daily Deduction

Where Should Facebook Have Booked Profits?

IRS and Facebook square off in court; $9 billion at stake.
February 10, 2020Renu Zaretsky