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Tax Policy Blog

Stay informed with quick and accessible analysis of today's top tax policy topics. Read Tax Foundation's Tax Policy Blog for insight from our experts on tax policies across the U.S. and abroad.

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Blog Articles

6142 Results
Tax compliance costs of IRS regulations tax complexity and tax simplification Chaotic IRS filing season shows flaws in IRS benefits distribution, IRS tax credit administration, IRS budget, and 2022 tax season with filing taxes Summary of the Latest Federal Income Tax Data, 2022 Update 2022 federal income tax data

The Tax Compliance Costs of IRS Regulations

In a pattern that has become all too common in recent decades, the newly enacted Inflation Reduction Act (IRA) added yet another layer of complexity to an already complex and burdensome federal tax code.

9 min read
Carbon tax revenue recycling for border-adjusted carbon tax border adjustments Taxing Big Oil Profiteers Act Wyden excess profits tax oil and gas companies Carbon Tax definition, Carbon Emissions, CO2 Emissions, Global Temperatures, Climate Change, AOC, Ocasio-Cortez, Green New Deal, energy, environomental, payroll tax cut

“Taxing Big Oil Profiteers Act” Risks Disincentivizing Production, Inventory

In response to high oil prices, Sen. Wyden has proposed raising taxes on oil and gas companies in three ways. His “Taxing Big Oil Profiteers Act” would create an additional 21 percent tax on so-called excess profits earned over 10 percent of revenues of oil companies with annual revenues over $1 billion; levy a tax on stock buybacks; and remove last-in, first-out (LIFO) tax treatment of inventory accounting.

7 min read
Arkansas income tax cuts Arkansas tax reform Arkansas income tax reform Arkansas income tax cuts 2021 Arkansas remote work Arkansas convenience rule Arkansas Senate Bill 484 Tax Foundation testimony Arkansas Lieutenant Governor Looks to Eliminate Income Tax, Arkansas Lieutenant Governor Tim Griffin proposal to eliminate Arkansas income tax

Arkansas’s Rate Reduction Acceleration

Arkansas recently became the 13th state to authorize an individual income tax rate reduction this year. This round of tax cuts accelerated reforms enacted eight months ago.

7 min read
IRS tax enforcement provisions to increase IRS budget and IRS funding See more on IRS expansion and Inflation Reduction Act IRS details

How to Think About IRS Tax Enforcement Provisions in the Inflation Reduction Act

The Inflation Reduction Act increases the IRS’s budget by roughly $80 billion over 10 years. The money is broken into four main categories—enforcement, operations support, business system modernization, and taxpayer services—as well as a few other small items such as an exploratory study on the potential of a free-file system.

6 min read
Inflation Reduction Act stock buyback tax Making the expanded child tax credit permanent American Rescue Plan Act. House Democrats covid plan. House Ways and Means coronavirus relief legislation. House Ways and Means committee coronavirus relief legislation. Ways and Means Chairman Richard E. Neal coronavirus relief package. New coronavirus relief bill summary, Stimulus check round 2, unemployment benefits

Stock Buyback Tax Would Hurt Investment and Innovation

The Inflation Reduction Act calls for a new 1 percent excise tax on stock buybacks, the argument being it would be better for the economy if firms invested their surplus cash in the business, rather than returning this value to shareholders.

3 min read
corporate alternative minimum tax corporate amt or corporate minimum tax build back better additional relief for coronavirus, additional stimulus payments

It Would Be a Mistake to Resurrect Corporate Alternative Minimum Tax

The Inflation Reduction Act may be smaller than the proposed Build Back Better legislation from 2021, but both sets of legislation propose a reintroduced corporate alternative minimum tax (AMT). The 30-year experience with a corporate AMT shows it is not a good solution.

4 min read
Inflation Reduction Act minimum tax or Inflation Reduction Act corporate minimum tax Biden OECD tax proposals hurt FDI Ways and Means proposal profit shifting, federal corporate income tax liabilities under Ways and Means profit shifting proposal

How Does the Inflation Reduction Act Minimum Tax Compare to Global Minimum Tax?

Over the course of the last year, it has become clear that Democratic lawmakers want to change U.S. tax rules for large companies. However, as proposals have been debated in recent months, there are have been clear divides between U.S. proposals and the global minimum tax rules.

6 min read
Real bracket creep and TCJA expirations won't keep pace with federal spending CBO long-term budget outlook federal deficit

3 Observations on the CBO Long-Term Budget Outlook

The latest CBO long-term budget outlook paints a troubling picture of fiscal irresponsibility. Rather than halt this rampant spending, Congress is actively adding programs that will exacerbate these long-term trends.

7 min read
Biden semiconductors computer Biden chips act subsidies could be a wasteful federal program

Chips Are Down in Semiconductor Tax World

The Senate has begun debate on the so-called Chips bill, which would provide $52 billion in grants and $24 billion in tax credits to supposedly strengthen the production of semiconductors in the U.S.

3 min read