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Posts on Federal Tax
April 25, 2017

President Trump’s tax policy announcement slated for tomorrow reportedly includes a 15 percent rate for so-called “pass-through” business income, a 15 percent corporate tax rate, and child care tax subsidies similar to what he proposed during the campaign. Here are some key...

Actual U.S. Corporate Tax Rates Far Lower than Statutory Rate, In Line With Comparable Countries
April 25, 2017

Will the tax plan that the Trump Administration will reportedly release this week meet three principles that key Republicans, including the President and other top Administration officials, have advanced: not reducing overall revenues, not cutting taxes for the wealthy, and focusing its benefits on...

April 21, 2017

During his presidential campaign, Donald Trump railed against corporate “inversions,” through which U.S.-based firms move their headquarters overseas to avoid paying U.S. taxes — while continuing to benefit from American customers, employees, and infrastructure. Referring to one high-profile inversion, President Trump...

Dollar and Columns
April 19, 2017

Programs that boost income and help families afford basic needs also enhance poor children’s future health, education, and projected earnings, as the New York Times recently wrote. Despite growing evidence that bolstering family income can help poor children catch up in a range of...

Mother and Children Outside
April 11, 2017

With Tax Day approaching, it’s a good time to examine our federal tax system and proposals to reform it.

Republicans have placed tax reform at the top of their legislative agenda. As our first chart shows, their proposals will likely be consistent with their ...

As with Repealing Affordable Care Act Taxes, Trump and "Better Way" Tax Plans Prioritize Tax Cuts for Millionaires
April 10, 2017

As we approach Tax Day on April 18, it’s the perfect time to celebrate the work of the Internal Revenue Service’s (IRS) Volunteer Income Tax Assistance (VITA) and the AARP Foundation’s Tax-Aide programs. Both programs provide free tax...

Personal Taxes - 1040
April 5, 2017

A Senate Finance Committee hearing tomorrow will examine taxpayers’ experiences during the 2017 tax filing season. A major new policy that has affected millions of taxpayers requires the IRS to delay refunds for taxpayers filing early in the tax season...

EITC and CTC Refund Delays Caused Sharp Drop in Tax Refunds Early This Filing Season
April 4, 2017

Update, April 5:  We’ve corrected a typo in the chart.

Ahead of tomorrow’s House Agriculture Committee hearing on tax reform, a group of agricultural trade associations have called for repealing the estate tax on inherited wealth, arguing that “all too often at the time of death, farming and ranching families are forced to sell off land, farm equipment, parts of the operation...

Only 50 Small Farms or Businesses Face Estate Tax
March 28, 2017

President Trump and House Speaker Paul Ryan have both signaled that tax reform is their next top legislative priority. Any tax bill should keep three promises that they and other key Republican leaders have made:

(1) No absolute tax cuts for the “upper class.” ...

Form 1040
March 21, 2017

In their updated health bill, House Republicans are doubling down on their plan to cut taxes for high-income households while cutting health insurance for mostly low- and moderate-income households —...

Eliminating Two Heath Reform Medicare Taxes Helps Only High-Income Filers