Tax Policy Blog

Working from Home Brings Greater Exposure to State Tax Codes

During the present crisis, remote work has become a necessity for many people. The tax implications, however, are very real and potentially quite complex.

What Happens with State Excise Tax Revenues During a Pandemic?

States will have to consider the effects of the COVID-19 pandemic on their excise tax revenues, including from gas taxes, tobacco taxes, and alcohol taxes.

Tracking Economic Relief Plans Around the World during the Coronavirus Outbreak

Countries around the world are implementing emergency tax measures to support their economies under the coronavirus (COVID-19) threat.

Australia’s COVID-19 Support Focuses on Grants to Individuals and Small Businesses

In contrast to the sweeping economic relief plan being considered by the U.S. Congress, the approach taken by the Australian government is much more targeted to supporting individuals and small to medium-sized businesses.

Norway Opens the Fiscal Toolbox

Norway passed a large coronavirus tax relief package to address layoffs and bankruptcies, which includes a reduced VAT rate, the introduction of a loss carryback provision, and targeted postponements for wealth tax payments, among other provisions.

Review and Analysis of House Democrats Coronavirus Response Bill

The proposed Take Responsibility for Workers and Families Act can be contrasted with the Senate Republican CARES Act, although they share some similarities by providing individual taxpayers with a rebate and modifying business tax provisions to provide liquidity for struggling firms.

What Should Coronavirus Response Legislation Look Like?

As lawmakers debate how to respond to the coronavirus crisis, they should focus the legislative response to the emergency at hand, using principled policy solutions to provide relief to those affected. Attempts to use the crisis to make other, unrelated policy changes should be avoided.

New York’s Road to Legalized Marijuana

Overview of Previous Tax Rebates During Economic Downturns

The timing from enactment to distribution has varied from about one and a half months to more than two months, indicating that it has historically taken a significant amount of time for individual taxpayers to receive their rebates after the policies have been put in place.

Economic Relief Plans Around the World During the Coronavirus Outbreak

Countries around the world are implementing emergency tax measures to support their debilitated economies under the coronavirus (COVID-19) threat.

Are States Prepared for Skyrocketing Unemployment Insurance Claims?

Unemployment claims are going to tax state unemployment compensation trust funds beyond their limits. We need to start thinking about what to do about it.

States Should Follow Federal Lead in Postponing Tax Day

The federal government moved tax day from April 15 to July 15 in response to the coronavirus pandemic, granting more time for both filing and payment. But for many taxpayers, it might not matter much if states don’t follow suit.

Lawmakers Concerned that Delay in Tax Filing Deadline Not Fully Understood

The U.S. Treasury Department has pushed the April 15 tax payment deadline to July 15. However, taxpayers still have to file their tax returns by the usual April 15 deadline.

For Italian Banks: Converting Future Deductions to Present Tax Credits

During the coronavirus outbreak, Italy has been hit especially hard. Policymakers have introduced numerous measures to stem the spread of the virus and provide relief to businesses that are facing a severe downturn.

Tax Policy to Bridge the Coronavirus-Induced Economic Slowdown

Tax policy can help by giving businesses current access to future tax “assets”—deductions and credits the businesses will be allowed or owed over time any way under current law—instead of making them wait.

Tax Policy and Economic Downturns

The Great Recession provides some insight into how tax revenues declined during a deep recession. Across OECD countries, revenues fell by 11 percent from 2008 to 2009 with corporate income taxes seeing the steepest decline at 28 percent. Revenues from individual income taxes fell by 16 percent.

Federal Proposal to Levy Excise Tax on Spring Water Extraction

How the Federal Government and the States Could Help Save Small Businesses Through Temporary UI Tax Adjustments

Governmental responses to the coronavirus outbreak will require creativity and flexibility—and one aspect of that may involve temporarily rethinking how we structure not only unemployment insurance (UI) benefits but also the taxes that pay for them.

Senate Receives Final Version of House Coronavirus Bill Offering Paid Leave

The House bill would provide two weeks of paid sick leave to workers who must quarantine, take care of a family member who is sick with coronavirus, or care for their children whose school or daycare has closed due to the public health emergency.

Tax Options for Economic Relief During the Coronavirus Crisis

Instead of simply reaching for fiscal stimulus with the goal of increasing economic activity, tax policy changes can give vulnerable individuals and businesses additional liquidity and space to survive the reduction in economic activity needed in light of the coronavirus outbreak.