The Tax Policy Blog

April 27, 2016

Standard economic theory assumes that individuals understand the tax schedule they face and alter their work and savings behavior accordingly in response to tax changes. We have previously discussed how the Earned Income Tax Credit (EITC) for example may cause individuals to save less and reduce their number of hours worked,...

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April 26, 2016

Today is April 26, the day of the “Acela Primary” – voting in Connecticut, Delaware, Maryland, Pennsylvania, and Rhode Island.

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April 25, 2016

Today is April 25, the most perfect date of the year. I'm pleased to share interesting tax news we've come across today, although I'm posting it a little bit after lunch as we fly across the country (more on that tomorrow).

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April 23, 2016

It’s no secret that Hillary Clinton and Bernie Sanders have contrasting tax plans, but who knew their disagreements extended to soda taxes?

Philadelphia Mayor Jim Kenney (D) is advocating for a 3 cents per ounce (36 cents per can) tax on sugar-sweetened beverages to help fund universal pre-K, a proposal which...

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April 22, 2016

In what will certainly be talked about as one of the great tax reform packages of 2016, Tennessee policymakers have today agreed to repeal the state’s obscure tax on interest and dividends called the “Hall tax.”

From the Tennessean:

If Gov. Bill Haslam allows the bill to become law, the Hall tax rate...

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April 21, 2016

This post originally appeared as an op-ed on Forbes.
 
Tax day may be behind us, but Illinois residents could be working longer to pay their state taxes in future years under legislation unveiled by House Deputy Majority Leader Lou Lang (D)—a proposal that would see the top rate soar from 3.75 to 9.75%. Were the tax increase adopted,...

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April 20, 2016

Individual income taxes are the single largest source of state tax revenue in the United States, accounting for 36.5 percent of all state revenue in fiscal year 2013 despite the fact that nine states forego a tax on wage and salary income. Among states (and the District of Columbia) imposing an individual income tax on wage income, the tax accounts for an average of 43.4 percent of all state collections.

Income taxes tend to be less important to local governments overall, accounting...

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April 20, 2016

There has been a lot of talk recently about “greedy” corporations not paying “their fair share” of taxes. These claims have a lot of populist appeal, but they are really quite misguided if we think about it.

After all, corporations are owned by shareholders. And who are those shareholders? Why they tend to be large pension funds, such as those benefiting public employees, trade unions, and corporate pensioners, not to mention individual 401k plans and university endowments. Indeed,...

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April 18, 2016

This election season, nearly every presidential candidate has released a detailed plan on how they would change the tax code. Some of these plans are small and would have a limited impact on taxpayers and economy. Other plans are big and would drastically impact federal revenues, the economy, and taxpayers. Using our ...

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April 18, 2016

Download the app for your iPhone, iPad, or Android device below:

...

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April 13, 2016

This morning, the Government Accountability Office (GAO) published a report on corporate income taxes, which found that 19.5 percent of “profitable large corporations” paid zero corporate income taxes in 2012.

Senator Bernie Sanders, whose campaign has been circulating the report, had this to say:

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April 12, 2016

As April 15th approaches, many American rush to collect their tax documents and fill out the appropriate paperwork. This stressful, yearly event is not that same around the world. For example, Bangladesh has their National Income Tax Day on September 15th. Far from the dreary April 15th in the United States, Bangladesh has a state fair where citizens can learn to file...

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April 12, 2016

On April 13, the U.S. House Small Business Committee's Subcommittee on Economic Growth, Tax, and Capital Access will be holding two hearings on improving the tax system. The second afternoon hearing at 2:30 PM will be testimony by IRS Commissioner John Koskinen, and the tax community will be eager to see what he has to say. The first hearing...

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April 12, 2016

Betsy Ross made the first U.S. flag, Abraham Lincoln freed the slaves, and Tax Day is April 15. These American immutable truths are being thrown a curveball this year, because the day that Americans must timely file their federal income tax returns for 2015 is April 18, 2016, three days later than usual.

The reason is...

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Subscribe to Tax Foundation - Tax Foundation's Tax Policy Blog The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.

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