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2019 Tax Brackets
The IRS recently released its 2019 individual income tax brackets and rates. Check out the new standard deduction, child tax credit, earned income tax credit, rates and brackets, and more.
5 min read
Navigating the 2020 Tax Extenders in the Pandemic Economy
At the end of 2020, 33 temporary tax provisions are scheduled to expire at the federal level. These provisions generally fall under four categories: cost recovery, energy, individual, and other business provisions.
20 min readDynamics and Tax Fairness
3 min read
A Tax Compromise Offered in Illinois
2 min read
Marginal Tax Rates on Labor Income Under the Democratic House Ways and Means Child Tax Credit Proposal
The coronavirus relief legislation passed out of the House Ways and Means Committee would significantly expand the child tax credit for 2021, from its current $2,000 maximum to a fully refundable $3,600 for children 6 and under and $3,000 for children over 6.
3 min read
The American Rescue Plan Act Greatly Expands Benefits through the Tax Code in 2021
The major tax-related benefits in the $1.9 trillion economic relief plan are a third round of direct payments, extended unemployment insurance (UI) benefits and a $10,200 unemployment insurance income exemption for 2020, and an expansion of the Child Tax Credit.
6 min read
Tracking the 2021 Biden Tax Plan and Federal Tax Proposals
Taxes are once again at the forefront of the public policy debate as legislators grapple with how to fund new infrastructure spending, among other priorities. Our tax tracker helps you stay up-to-date as new tax plans emerge from the Biden administration and Congress.
1 min read
State Legislatures Take Up Tax Reform and Relief in 2022
After a whirlwind of cuts and reforms in 2021, it looks like 2022 might be an even bigger year for state tax codes. Republican and Democratic governors alike used their annual State of the State addresses to call for tax reform, and there is already serious momentum from state lawmakers nationwide to get the job done.
3 min read
Pro-Growth Tax Reforms Throughout the Republican Study Committee’s FY 2023 Budget
The United States needs to grow its way out of inflation and set the economy up for continued growth—the tax code provides tools for policymakers to do just that.
3 min read