Income tax (individual)

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Research report
Individual Taxes

Expanding Modeling Capacity on Tax Expenditures for Homeownership

This report describes the Tax Policy Center (TPC) Microsimulation Model’s revamped home mortgage interest deduction (MID) module. The TPC tax model uses the module for simulating proposals that reform the MID. The new MID module improves upon the prior one in accounting for potential changes in...

July 17, 2020
Surachai KhitatrakunEric ToderRobert McClellandChenxi Lu
Research report
Federal Budget and Economy

A Synthetic Supplemental Public-Use File of Low-Income Information Return Data: Methodology, Utility, and Privacy Implications

The Statistics of Income division of the Internal Revenue Service releases an annual public-use file of individual income tax returns that is invaluable to tax analysts in government agencies, nonprofit research organizations, and the private sector. However, the Statistics of Income division...

July 9, 2020
Claire BowenVictoria L. BryantLeonard E. BurmanSurachai KhitatrakunGraham MacDonaldRobert McClellandPhilip StallworthKyle UeyamaAaron R. WilliamsNoah Zwiefel
Brief
Individual Taxes

Effects of Tax Incentives on Homeownership

Federal tax law provides several tax benefits for homeowners. This chartbook focuses on the home mortgage interest deduction. We provide updated estimates of the distributional effects of the home mortgage interest deduction, show how those estimates could change if people pay down their home...

July 1, 2020
Chenxi LuEric ToderSurachai KhitatrakunRobert McClelland
Research report
Individual Taxes

Self-Employment Patterns for Men and Women and Implications for Tax Compliance

The rise of the gig economy has increased interest in the self-employment sector and highlighted the benefits and costs of these types of jobs. One understudied issue is that self-employment (which overlaps substantially with the gig economy) concerns a part of the tax code that is difficult for...

December 9, 2019
H. Elizabeth PetersElaine Maag
Research report
State and Local Issues

State Tax and Economic Review, 2019 Quarter 1

State government tax revenues rebounded in the first quarter of 2019 after declines in the fourth quarter of 2018. However, year-over-year growth was substantially weaker in the first quarter of 2019 than in the final quarter of 2017 and the first three quarters of 2018. Most of the recent...

September 24, 2019
Lucy Dadayan
Research report
Individual Taxes

Shifting Child Tax Benefits in the TCJA Left Most Families About the Same

This report analyzes the main provisions of the federal income tax code that provide benefits to families with children, comparing current law with what would be happening had the TCJA not been enacted, and discusses the TCJA’s implications for families of different income levels. On net, almost...

August 16, 2019
Elaine Maag
Research report
State and Local Issues

State Tax and Economic Review, 2018 Quarter 4

State government tax revenues from major sources declined in the fourth quarter of 2018 compared with the same quarter in 2017, mostly because of declines in state income tax revenues. The declines in income tax collection are partially attributable to the disappearing impact of incentives...

July 16, 2019
Lucy Dadayan
Brief
Individual Taxes

Expanding the Earned Income Tax Credit: The Economic Security Project’s Cost-of-Living Refund

The cost-of-living refund (CLR), a proposal from the Economic Security Project, would revise the current earned income tax credit (EITC) by increasing benefits for many people, expanding eligibility for the credit, and paying the credit in advance via monthly payments. The proposal would provide...

June 10, 2019
Elaine MaagDonald MarronErin Huffer
Research report
Individual Taxes

A Universal EITC: Sharing the Gains from Economic Growth, Encouraging Work, and Supporting Families

This report analyzes a straightforward mechanism to mitigate middle-class wage stagnation: a wage tax credit of 100 percent of earnings up to a maximum credit of $10,000, called a universal earned income tax credit. The child tax credit would increase from $2,000 to $2,500 and be made fully...

May 20, 2019
Leonard E. Burman
Brief
Individual Taxes

Analysis of the Protecting Family and Small Business Tax Cuts Act of 2018

The Protecting Family and Small Business Tax Cuts Act of 2018 extends major individual income and estate tax provisions from 2017’s Tax Cuts and Jobs Act that are currently scheduled to expire at the end of 2025. The bill would reduce federal revenues by $631 billion within the budget window (...

September 12, 2018
Jeffrey RohalyJoseph RosenbergBenjamin R. PageDaniel Berger