TaxVox: Federal revenue

Too Many IRS Audits of Big Businesses Result In No Change In Tax Liability

April 19, 2021 –

Change can be good, right? Maybe or maybe not. But if you are the Internal Revenue Service, “no change” audits never are good. And, for...

Federal Budget and Economy

How Could the United States Pay for Reparations?

February 3, 2021 –

A few years ago, Ta-Nehesi Coates wrote a powerful essay, “The Case for Reparations” for The Atlantic . Reparations, he affirmed, would help close the...

Campaigns, Proposals, and Reforms

Treasury Pick Yellen Likes Carbon Taxes and More Pandemic Relief, But Not The TCJA

November 24, 2020 –

Janet Yellen, president-elect Joe Biden’s pick for Treasury Secretary, would come to the job with largely predictable views on tax policy for a mainstream, center-left economist.

How Much More Money Could The IRS Collect If Congress Gave Them More Money?

September 28, 2020 –

Would increasing the Internal Revenue Service’s funding for audits increase tax collections by more than the cost? Yes, if the funds are spent wisely.

Individual Taxes

A New Study Suggests Congress Could Raise Money By Increasing Capital Gains Tax Rates To 47 Percent. But There Is A Catch

September 16, 2020 –

Democratic presidential candidate Joe Biden has proposed raising tax rates on long-term capital gains income for the highest-income investors.

Campaigns, Proposals, and Reforms

Biden’s Tax Hikes May Be A Tough Sell In 2021. What If He Paired Them With Big Refundable Tax Credits?

August 19, 2020 –

The real question for Biden is how much of his ambitious tax plan could Congress realistically pass next year.

State and Local Issues

TPC Analyzes Five Ways To Replace The SALT Deduction Cap

May 14, 2020 –

The $10,000 annual limit on the state and local tax (SALT) deduction was one of the most contentious provisions of the 2017 Tax Cuts and...

Federal Budget and Economy

Who Should Pay For The Economic Relief From The COVID-19 Crisis?

April 13, 2020 –

As Republicans and Democrats joined hands to provide the most recent of what might be several stages of relief from our national pandemic crisis, almost...