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Posts on Federal Tax
March 13, 2019

As we recognize the fourth annual Volunteer Income Tax Assistance (VITA) Awareness Day today, we also celebrate 50 years of VITA. This IRS-sponsored program trains volunteers to help millions of low- and moderate-income people file their taxes by providing accurate, free, and trustworthy tax preparation assistance. VITA sites are located across the country at community settings like libraries...

Women filing application
March 12, 2019

Congress is facing renewed calls to repeal or further delay the “Cadillac tax” — the excise tax on high-cost health plans. That would be unwise for two reasons: it would lose needed revenue and would set back efforts to slow the growth of health care costs.

The Affordable...

Stethoscope on money
February 28, 2019

The 2017 tax law is fundamentally flawed and largely left behind low- and moderate-income Americans, CBPP’s Chye-Ching Huang told the House Budget Committee yesterday. As she explained, the law doesn’t address the economic challenges that low- and moderate-income...

Young family of three
January 30, 2019

In finalizing its regulations governing the 2017 tax law’s 20 percent deduction for “pass-through” income recently, the Treasury Department retained, and in some cases expanded, the overly generous business giveaways of its draft regulations.

The hastily crafted 2017 law made arbitrary,...

Money Flying Away
January 25, 2019

Today is the 13th annual Earned Income Tax Credit (EITC) Awareness Day, designed to elevate a federal tax credit that encourages work and helps working families meet daily needs.

The EITC reduces poverty, lifting 5.7 million people out of poverty in 2017, including 3 million children. By...

Father and Kids Outside
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

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