Individual Taxes

T14-0108 - Decrease 35 Percent Individual Income Tax Rate to 34 Percent, Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2015

August 19, 2014
Individual Taxes

T14-0109 - Decrease 39.6 Percent Individual Income Tax Rate to 38.6 Percent, Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2015

August 19, 2014
Individual Taxes

T14-0110 - Decrease 39.6 Percent Individual Income Tax Rate to 38.6 Percent, Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2015

August 19, 2014
Individual Taxes

T14-0111 - Decrease All Individual Income Tax Rates by One Percentage Point, Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2015

August 19, 2014
Individual Taxes

T14-0112 - Decrease All Individual Income Tax Rates by One Percentage Point, Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2015

August 19, 2014
Individual Taxes: TaxVox

Is Treasury About to Curb Tax Inversions on Its Own?

The Treasury Department put out the word that Secretary Jack Lew is considering regulatory curbs on corporate tax inversions, a step that may be intended to increase pressure on Congress to act once it returns from its summer recess in September. The matter of how much authority Treasury has to
August 19, 2014Howard Gleckman
State and Local Issues: TaxVox

Do Sales Tax Holidays Ever Make Sense?

Politicians love sales tax holidays as good campaign fodder. Retailers celebrate them with gaudy signs announcing tax-free shopping, and consumers line up to take advantage of the deals. But economists and policy analysts across the ideological spectrum condemn them as poorly targeted tax policy
August 18, 2014Richard C. Auxier
: Daily Deduction

Use It or Lose It: The Authority to Tax, or Not

Congress is in recess. The Daily Deduction will return to its regular schedule on Monday, September 8. Until then: We’ll see you every Monday morning. Don’t like corporate inversions? If the Administration wants to stop them, it can. TPC’s Steve Rosenthal explains : Treasury has the authority to
August 18, 2014Renu Zaretsky
Individual Taxes: TaxVox

Can Obama slow corporate inversions? Yes he can.

Politicians can debate whether corporate tax inversions are “unpatriotic” or simply a legitimate technique to reduce taxes--and commentators can argue over whether anything should be done to stop them. Experts also disagree about whether President Obama and his Treasury Secretary have the legal
August 15, 2014Steven M. Rosenthal
Individual Taxes

T14-0096 - Decrease Individual Income Tax Rates by One Percentage Point, Change in Individual Income Tax Revenue, 2015-2024 ($ billions), Baseline: Current Law

August 14, 2014
: TaxVox

August Avoidance: Corporate Taxes and Budget Realities

Congress is in recess. The Daily Deduction will return to its regular schedule on Monday, September 8. Until then: We’ll see you every Monday morning. Walgreen might be the only one who’s tired of talking about inversions. The Illinois-based drugstore chain plans to keep its tax base in the US
August 11, 2014Renu Zaretsky
Federal Budget and Economy: TaxVox

Does Congress Really Care About the Deficit? Not When It Comes to Vets and Highways.

Next time a lawmaker starts to pontificate about the desperate need to reduce the budget deficit, remind him (or her) about what Congress did just before it left town last week. It passed two bills that are extremely important, but didn’t pay for either of them. And they are likely to add tens of
August 7, 2014Howard Gleckman
Business Taxes: Brief

Corporate Tax is Broken and Needs Major Surgery

In a contribution to the Wall Street Journals MarketWatch Inc., Eric Toder and Alan Viard argue that recent highly publicized tax avoidance transactions by U.S. corporations reflect basic flaws in how we tax the income of multinational corporations, and that proposed reforms that maintain current
August 6, 2014Eric ToderAlan Viard
Individual Taxes: TaxVox

How Political Gridlock Encourages Tax Avoidance

In July, Treasury Secretary Jack Lew asked Congress to stop the current wave of corporate expatriations. The legislation is going nowhere, and Treasury and the IRS are unwilling to act on their own, though some legal experts believe they already have the authority to curb the transactions. This is
August 5, 2014Eric Toder
: TaxVox

Online Taxes: Searches, Storage, and Sales

Congress is in recess. The Daily Deduction will return to its regular schedule on Monday, September 8. Until then: We’ll see you every Monday morning. Abroad and online: One country brings a knife to a gunfight. Spain has passed a new law : Websites that link to Spanish newspaper association
August 4, 2014Renu Zaretsky
Individual Taxes: TaxVox

A New Way to Invest for Old Age, But How Many Will Buy?

A few weeks ago, with absolutely no fanfare, the Treasury Department announced what could be a major change in the way we save for retirement. It will now permit people to shift a portion of their 401(k)s or IRAs into a deferred annuity that provides a guaranteed stream of income once you reach old
August 1, 2014Howard Gleckman
: TaxVox

“You Got to Know When to Fold ‘Em”

Gambling with the Highway Trust Fund: The House always wins? As expected , the House rejected the Senate’s four-and-a-half month $8 billion highway funding patch passed earlier this week. The House returned its own 10-month $10.8 billion patch—the one that includes pension smoothing — back to the
August 1, 2014Renu Zaretsky
Individual Taxes: TaxVox

How REIT Spinoffs Will Further Erode the Corporate Tax Base

While Congress has been obsessing about tax inversions, it turns out another—potentially more important--tax avoidance technique is getting increased attention from the business community: Spinning off tangible assets into Real Estate Investment Trusts (REITs). If these deals become widespread,
July 31, 2014Howard Gleckman
: TaxVox

What’s Love Got to Do with It? Not Much, in Congress

The Senate won’t “Bring Home Jobs…” at least not through the bill that would have denied tax deductions for costs of moving corporations out of the country. The Bring Home Jobs Act needed 60 votes to pass but received only 54. The House GOP may vote to put the estate tax to death. They’ve been
July 31, 2014Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

What Ronald Reagan Didn’t Say About the EITC

I like the Earned Income Tax Credit (EITC). It encourages work and allows millions of low-wage workers and their kids to escape a life of poverty . Democrats support it as a critical part of the safety net. Republicans back it because it rewards work and family. Just last week, House Budget
July 30, 2014Leonard E. Burman
: Daily Deduction

Reincorporation, Renunciation, and a Dose of Reality

There’s more than one way for a corporation to reduce taxes. It doesn’t have to reincorporate itself overseas. It could instead spin off a part of itself into a publicly traded real estate investment fund . As long as the new REIT distributes 90 percent or more of its income to investors as taxable
July 30, 2014Renu Zaretsky
Campaigns, Proposals, and Reforms

T14-0086 - Repeal the Individual Alternative Minimum Tax (AMT), Impact on Income Tax Revenue ($ billions), 2015-2024, Baseline: Current Law

July 29, 2014
Campaigns, Proposals, and Reforms

T14-0087 - Repeal the Individual Alternative Minimum Tax (AMT), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2015

July 29, 2014
Campaigns, Proposals, and Reforms

T14-0088 - Repeal the Individual Alternative Minimum Tax (AMT), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

July 29, 2014
Campaigns, Proposals, and Reforms

T14-0089 - Repeal the Individual Alternative Minimum Tax (AMT), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2015

July 29, 2014