TaxVox: Income tax (individual)

Should Online Sports Betting Firms Withhold Taxes On Winnings?

October 4, 2023 –

Our teenage son called me from school in the middle of the day last month. I braced myself. Generally, those calls come when there’s a...

Individual Taxes

Will The Supreme Court Use A Fishing Dispute To Curb Treasury and IRS Tax Rules?

September 14, 2023 –

Is the US Supreme Court fishing for a way to upend decades of judicial deference to tax rules issued by the IRS and Treasury? The...

photo of US Representative Garbarino of New York and other members of the salt caucus advocating for a more general state and local tax deduction

Individual Taxes

The House GOP’s Higher Standard Deduction Means Even Fewer Households Should Care About The SALT Fight

September 7, 2023 –

As House Republicans engage in a nasty internal battle over whether to raise the $10,000 cap on the state and local tax (SALT) deduction, a...

photo of the state capitol building in Trenton, New Jersey

State and Local Issues

Reviewing Three Years of State Tax Cuts

July 20, 2023 –

From the start of calendar year 2021 to today, 48 states and the District of Columbia have cut taxes. The only holdouts are Alaska and...

State and Local Issues

State Tax Policy One Year After the Dobbs Ruling

June 26, 2023 –

About one year ago, the US Supreme Court struck down the constitutional right to abortion in Dobbs v. Jackson Women’s Health Organization . Since then,...

Individual Taxes

House GOP Tax Plan Would Temporarily Cut Taxes For All Income Groups

June 20, 2023 –

House Republican plans to temporarily raise the standard deduction and restore more generous business tax deductions would result in modest tax cuts for most households...

photo of US house ways and means chair jason smith of missouri

Individual Taxes

Could A Boost In The Standard Deduction Kill The Mortgage And Charitable Deductions?

June 12, 2023 –

Could A Boost In The Standard Deduction Kill The Mortgage And Charitable Deductions? The House Ways & Means Committee may be about to approve a...

Individual Taxes

Expanding Child Tax Credits Provides More Effective Inflation Relief Than A Higher Standard Deduction

June 8, 2023 –

Representatives Nicole Malliotakis (R-NY) and Michelle Steel (R-CA) have introduced the Working Families Tax Cut Act to increase the standard deduction – which would increase...

Individual Taxes

New Jersey Property Tax Cut May Not Work As Intended

June 8, 2023 –

A major property tax cut proposal for seniors has New Jersey’s legislative leaders at odds with the governor as the state tries to wrap up...

Individual Taxes

Venmo, The $600 Threshold, And You: What’s An (Honest) Taxpayer To Do?

April 5, 2023 –

Without better outreach and communication from the IRS, the new $600 reporting threshold might drive more otherwise law-abiding taxpayers to work around the reporting rule.