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Posts on Federal Tax
January 15, 2019

The Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) together boosted the incomes of 29.1 million Americans in 2017, lifting 8.9 million above the poverty line and making 20.2 million others less poor, our analysis of new Census data shows. These totals include 12.5 million children, 4.8 million of whom were lifted out of poverty and another 7.7 million made less poor. The figures...

Earned Income Tax Credit and Child Tax Credit Have Powerful Anti-Poverty Impact
December 20, 2018

As our new report explains, the 2017 tax law’s deduction for “pass-through” income may contribute to “workplace fissuring” — when firms obtain the services of workers such as truck drivers...

Tax forms
December 20, 2018

The incoming Congress should give the IRS the funds to restore its ability to adequately collect revenue, a basic government function. IRS underfunding since 2010 has led to two concerning, related trends, as ProPublica reports: a significant decline in audit rates, especially among large corporations and high-income...

Sharp Decline in Audit Rates for Large Corporations and High-Income Filers
December 12, 2018

The House may vote on a year-end tax bill that, among other provisions, would delay or repeal four health-related taxes: the 2.3 percent excise tax on medical devices, the fee on health insurance providers (the “health insurance tax”), the excise tax on high-cost health insurance plans (...

Medical Device
December 10, 2018

With Puerto Rico’s governor signing a major tax package into law today, the Commonwealth is slated to implement a local Earned Income Tax Credit (EITC) in 2019. The EITC is a proven and much-needed tool that should help the Commonwealth combat high levels of poverty (...

Puerto Rico's New EITC Will Boost Working Households' Incomes
December 6, 2018

The House Republican tax package making “technical corrections” to the 2017 tax law repeats one of the law’s fundamental flaws: cutting...

Baker with bread
November 29, 2018

Tax lawyers are developing complex strategies, and lobbying the IRS as it writes regulations for the 2017 tax law, to maximize the law’s “pass-through” deduction for their wealthy clients, and...

Stack of Bills
October 19, 2018

Realtors, veterinarians, and a range of other industry groups are pushing to dramatically expand the scope of the 2017 tax law’s “pass-through” deduction to allow their businesses to qualify. The wide range of requests, on full display at a recent IRS hearing, shows the creative ways that business owners and their tax planners will seek to stretch the deduction, which is essentially a giveaway...

Form 1040 And Refund Check
October 15, 2018

Major League Baseball (MLB) is pushing to let professional sports team owners benefit from the 20 percent “pass-through” deduction, a key provision of the 2017 tax law. This unwarranted change to proposed Treasury regulations to implement the law would come on top of several of the law’s...

Money Flying Away
October 11, 2018

We’ve explained that the 2017 tax law largely ignored working-class families, instead delivering large tax cuts to the most well-off and large, profitable corporations. A new analysis...

2017 Tax Law Gives White Households in Top 1% More Than All Races in Bottom 60%

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