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Posts on Federal Tax
April 12, 2019

As people rush to file their income tax returns by Tax Day (April 15), a few reminders: First, as the Brookings Institution’s Vanessa Williamson explained: “Residents of the United States are unusually likely [compared to other countries] to see chipping in their share as a civic duty, a...

Most of Budget Goes Toward Defense, Social Security, and Major Health Programs
April 12, 2019

Despite tax law changes and new tax forms — which require intensive new training — volunteers at free tax preparation sites continued helping millions of Americans file their taxes this year.

The IRS Volunteer Income Tax Assistance (VITA) program and the...

1040 and Schedule A
April 8, 2019

Some 15.6 million U.S. workers were self-employed in 2018, many of whom are part of the growing gig economy and are taking side jobs. Self-employment can have complicated tax implications, but CBPP’s Get It Back Campaign has a...

Aerial view of Minneapolis
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