The Obama Administration yesterday backed down from its plan to tax the earnings on 529 savings accounts, a kind of saving account for higher education under section 529 of the tax code. At Bloomberg, Richard Rubin and...
- Total Federal Income Tax Compliance Costs, 1990-2015
Total Federal Income Tax Compliance Costs, 1990-2015
Introduction Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called “bracket creep.” This is the phenomenon by which people are pushed into higher income tax brackets or have...
After years of slow economic growth and a burgeoning tax code, many in Congress and elsewhere have recognized that now is the time for tax reform. Unfortunately, the political process is often at odds with reform, because it tends to protect the...
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