TaxVox

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The voices of Tax Policy Center's researchers and staff

person voting on election day at a booth
State and Local Issues

Lessons From the 2022 State Ballot Measures

November 10, 2022 –
Americans voted on dozens of ballot initiatives this year, including tax hikes, tax cuts, cannabis taxes, sports betting, and even the future of ballot measures...
Photo of the Supreme Court Building at night
Individual Taxes

The Supreme Court Reviews Penalties For Running Afoul Of FBAR Law

November 8, 2022 –
Last week, the US Supreme Court heard oral arguments in a case over how much in penalties the US government can impose on citizens who...
golfers playing at a retirement community golf course
Individual Taxes

IRA and 401(k) Contribution Limits Are Increasing. That’s Great News If You Are Rich

November 4, 2022 –
In response to the recent burst of inflation, the IRS is raising contribution limits for the full range of retirement savings accounts. That’s great news...
bowl of mini marshmallows
State and Local Issues

A Marshmallow By Any Other Name Is Just As Sweet, But Maybe Not Taxable

November 2, 2022 –
Is a marshmallow tax-exempt food, or is it taxable candy? This question keeps national and state governments and their lawyers quite busy.
adults in line for food assistance
Individual Taxes

TPC: The Number Of Those Who Don’t Pay Federal Income Tax Drops To Pre-Pandemic Levels

October 27, 2022 –
After dramatically rising during the worst of the pandemic, the number of households who pay no federal income tax has fallen sharply. It will remain...
alan greenspan walking next to then-president bill clinton
Individual Taxes

Politicians Are Arguing Again About Social Security. That’s Good

October 26, 2022 –
Suddenly, Social Security reform is back in the news. For all the wrong reasons, perhaps. But at least politicians are talking about it. And that’s...
worker trimming a marijuana plant
State and Local Issues

Cannabis Taxes on the Ballot: Voters Approve, Legislatures Change

October 24, 2022 –
Arkansas, Maryland, Missouri, North Dakota, and South Dakota will vote on legalizing recreational marijuana this November. And cannabis initiatives are already on the 2023 or...
a stack of money next to a book on inflation and a calculator
Individual Taxes

What The IRS Inflation Adjustment Really Means

October 21, 2022 –
The Internal Revenue Service announced its inflation adjustment for tax year 2023: It will be a bit more than 7 percent, the largest increase in...
photo of social media app icons on a smartphone
Business Taxes

Could A Data Tax Partially Replace the Corporate Income Tax?

October 18, 2022 –
Policy experts and governments around the world are deeply dissatisfied with the way multinational corporations are taxed, especially big tech companies. The Organisation for Economic...
US Capitol
Individual Taxes

Comparing The Fiscal Costs Of Tax Breaks For Children Versus Businesses

October 17, 2022 –
As the year winds down, Congress will need to decide what to do on several tax fronts, including whether to extend more favorable treatment of...