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Joint Committee on Taxation Data Shows Federal Tax System Is Progressive
New Joint Committee on Taxation (JCT) data indicates that the federal tax system is progressive, consistent with similar analysis by the Congressional Budget Office (CBO), and the OECD.
2 min read
Reviewing the Tax Changes in Senator Bennet’s Real Deal
The “Real Deal” would increase the tax burden on saving, investing, and working in the United States, and reduce the global competitiveness of the U.S. economy.
3 min read
What to Expect During the 2021 Tax Season
The IRS recently announced the extension of tax filing and payment deadlines from April 15th to May 17th to help taxpayers navigating the many tax changes amid the pandemic and give the IRS opportunity to clear its backlog of tax returns and correspondence.
7 min read
Tax Foundation Webinar Recaps the Complexities of the 2021 Tax Filing Season
During the pandemic, economic relief administered through the tax code exploded as Congress passed nearly $6 trillion of legislation into law. That left the 2021 tax filing season, which ended May 17, with complications that still linger.
4 min read
Don’t Add More Temporary Tax Policies in Budget Reconciliation
Temporary policy creates uncertainty for taxpayers and scheduling more expirations will add to the already-expiring provisions under the Tax Cuts and Jobs Act (TCJA) of 2017.
3 min read
Rate Reductions Would Put Michigan in Top 10
Amid record surpluses, Michigan lawmakers are looking to give relief to taxpayers and enhance the state’s competitive standing.
3 min read
Chaotic IRS Filing Season Shows the Perils of Running Social Policy Through the Tax Code
As the deadline for tax filing nears, the IRS faces scrutiny for its backlog of returns, inaccessible taxpayer service, and delays in issuing certain refunds.
5 min read
Personal Income Tax Adjusts for Inflation, But It Could Do Better
In times of inflation, a review of the tax code shows that some provisions are automatically indexed, or adjusted, to match inflation, while others are not. And that creates unfair burdens for taxpayers. But it’s not always as simple as just “adjusting for inflation.”
4 min read
Difficult Trade-Offs Make Policy Consensus on Child Tax Credit Elusive
As we near this year’s “lame duck” session of Congress, there has been renewed interest in reforming the child tax credit as part of a tax deal. Our new analysis highlights the trade-offs that policymakers will face
5 min read