TaxVox: Individual Taxes

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The voices of Tax Policy Center's researchers and staff

Individual Taxes

The New W-4 Tax Withholding Form Is Coming Soon. But Why Is The IRS Even Bothering?

July 11, 2019 –
One day soon, the IRS will release its near-final version of the 2020 Form W-4 that workers are supposed to use to calculate their federal...
Individual Taxes

Most AMT Taxpayers Paid Lower Taxes After TCJA, Despite SALT Cap

July 10, 2019 –
A new Tax Policy Center analysis finds that the vast majority of households that paid the Alternative Minimum Tax (AMT) before the 2017 Tax Cuts...
Individual Taxes

The Economic Security Project Proposes A Simpler And More Generous Tax Credit For Low-Income Workers And Caregivers

July 2, 2019 –
Expanding the earned income tax credit (EITC) has support from a wide range of policy experts. Yet the expansion ideas come in many different forms...
Individual Taxes

HSAs Provide A Sweet Tax Break, But Some May Increase Health Care Spending

June 21, 2019 –
As a tax shelter, health savings accounts are a winner, and are growing in popularity. But, according to a new study (subscription only) by Paul...

The SECURE Act Falls Far Short Of Enhancing Retirement Security

June 17, 2019 –
Congress seems about ready to pass a package of about 28 retirement and pension plan changes the House calls the SECURE (Setting Every Community Up...
IRS_audit

The IRS Data Book Tells A Story of Shrinking Staff, Fewer Audits, and Less Customer Service.

June 7, 2019 –
The IRS published its annual trove of tax statistics Internal Revenue Service Data Book, 2018 on May 20. On its face, the volume is a...
State and Local Issues

Will A Global Opioid Settlement Mimic The 1990s Tobacco Experience?

June 6, 2019 –
For states, opioids may become the new tobacco. That is to say, states increasingly believe lawsuits against drugmakers and others are a potential source of significant revenue

What The Tax Cuts and Jobs Act Means For Tax Expenditures

June 5, 2019 –
In a new paper , my former Tax Policy Center colleague Daniel Berger and I calculate that the 2017 Tax Cuts and Jobs Act (TCJA)...
Individual Taxes

The Section 529 Savings Plan Is A Sweet Deal. Too Sweet.

June 5, 2019 –
As welcome as the 529 benefits are, we don’t need them, and we should not have them.
Individual Taxes

The Trump Administration Is Looking At Tax Breaks And Other Ways To Boost Private Long-Term Care Insurance

May 24, 2019 –
The Trump Administration is (very quietly) looking at ways to reinvigorate the flagging private long-term care (LTC) insurance market. The recommendations are expected to surface...