While taxation of overseas profits of U.S. multinational corporations has made the headlines lately, U.S. citizens who work overseas also face special rules. Unlike most countries, the United States requires that its citizens pay tax on their worldwide income (with a credit for foreign taxes paid
Last week, the OECD proposed a major new initiative aimed at cracking down on tax avoidance by multinational corporations. The 40-page report follows widespread international...
Detroit filed for Chapter 9 bankruptcy protection yesterday, giving it the dubious distinction of being the largest municipal bankruptcy ever. By doing so, the city...
My blog last Tuesday on overblown concerns about people falsely claiming subsides under the Affordable Care Act’s insurance exchanges generated a lot of response. Much...
There is widespread agreement that the income tax needs reform, although little agreement about how to do it. A common thread in most reform proposals is to slash most tax expenditures. A 1973 book by Stanley Surrey made the case that cuts in tax expenditures was the "pathway to tax reform." This
Because politicians seem unwilling to confront specific individual tax preferences, it is likely that any broad-based tax reform will be based on across-the-board curbs on...
This paper evaluates six options to achieve across-the-board reductions to a group of major exclusions and deductions in the income tax: (1) limiting their tax benefit to a maximum percentage of income, (2) imposing a fixed dollar cap, (3) reducing them by fixed-percentage amount, (4) limiting
It isn’t easy to get up-to-date information about state and local economic conditions. Now, a new one-stop resource from The Tax Policy Center’s State and...
