individual income tax

TPC: The Ways & Means Reconciliation Bill Would Raise Taxes On High Income Households, Cut Taxes On Average For Nearly Everyone Else

All major provisions of the House Ways & Means Committee’s budget reconciliation tax bill would cut 2022 taxes on average for households making $200,000 or...

September 28, 2021Howard Gleckman

Federal Budget and Economy: TaxVox

Neal’s Tax Bill Is Big And Bold, With Hits and Misses

The most important thing to know about the tax bill proposed by House Ways & Means Committee Richard Neal (D-MA) is that it’s big. The...

September 14, 2021Howard Gleckman

Individual Taxes: TaxVox

Would Extending More Generous Tax Credits Increase The Number Of Non-Income Tax Payers?

Would Extending More Generous Tax Credits Increase The Number Of Non-Income Tax Payers? We know the pandemic and the policy response to it dramatically increased...

August 25, 2021Howard Gleckman

Individual Taxes: TaxVox

The COVID-19 Pandemic Drove A Huge, But Temporary, Increase in Households That Did Not Pay Federal Income Tax

The COVID-19 pandemic and the policy response to it led to an extraordinary increase in the number of American households that owed no federal individual income tax in 2020. The Tax Policy Center estimates that last year more than 107 million households, or nearly 61 percent, owed no income tax or even received tax credits from the government.

August 18, 2021Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Biden Would Raise Taxes Substantially for High Income Households and Corporations, Cut Taxes for Families with Children, According to A New TPC Analysis

Nearly all of President Biden’s proposed tax increases would be borne by the highest income 1 percent of households--those making about $800,000 or more—according to...

June 9, 2021Howard Gleckman

Federal Budget and Economy: TaxVox

The Deficit Is Likely To Be Bigger Than Biden Projects, But Not Because Of A Rosy Economic Forecast

Those of us who have been writing about the federal budgets for too long remember the sad history of presidents trotting out wildly optimistic economic...

June 2, 2021Howard Gleckman

Individual Taxes: TaxVox

Biden’s Tax Plan May Make Congress Come to Grips With The Question: What Is Income?

Tax bills almost always force Congress to think about how to define income, but President Biden’s campaign promise to never raise taxes for those making...

May 26, 2021Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

TPC Compares President Biden’s Tax Agenda With Candidate Biden’s: Where It Differs and Where It Tracks

When Joe Biden ran for president, his campaign platform included dozens of relatively specific tax proposals. They ranged from expanding refundable tax credits for low-...

May 21, 2021Howard Gleckman

Individual Taxes: TaxVox

Are IRS Security Tools Blocking Millions of People from Filing Electronically?

The IRS struggles mightily to balance two goals: It desperately wants to encourage taxpayers to file their tax returns electronically rather than on paper. And...

April 26, 2021Howard Gleckman

Individual Taxes: TaxVox

Are The American Rescue Plan’s Tax Cliffs Really Such A Big Deal?

Are American Rescue Plan’s Tax Cliffs Really Such A Big Deal? Economists hate cliffs. But the tax cliffs in the ARP may not be so bad.

March 23, 2021Howard Gleckman