Child Tax Credit (CTC)

2020 Tax Brackets

The IRS recently released the new 2020 tax brackets and rates. Explore updated credits, deductions, and exemptions, including the standard deduction & personal exemption, Alternative Minimum Tax (AMT), Earned Income Tax Credit (EITC), Child Tax Credit (CTC), capital gains brackets, qualified business income deduction (199A), and the annual exclusion for gifts.

A Preliminary Look at 2018 Tax Data

Initial 2018 IRS tax return data shows that the TCJA expanded the use of several credits and deductions, made the standard deduction more favorable than itemizing, reduced tax refunds, and lowered taxes for most Americans.

Don’t Judge Your Taxes by Your Refund

Toward a State of Conformity: State Tax Codes a Year After Federal Tax Reform

States incorporate provisions of the federal tax code into their own codes in varying degrees, meaning that federal tax reform has implications for state revenue beyond any broader economic effects of tax reform.

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.

Family Provisions in the New Tax Code

The Tax Cuts and Jobs Act Simplified the Tax Filing Process for Millions of Households

The newly expanded standard deduction will reduce the time taxpayers spend working on Form 1040 by 4 to 7 percent, translating into $3.1 to $5.4 billion saved annually.

Examining Different Assumptions About the Republican Framework’s Impact on Lower Middle-Income Households

The broad conclusion here is that, in drafting the Republican Framework, lawmakers have left themselves with at least one significant lever for delivering middle class tax relief: the child tax credit.

Senator Carper Introduces Gas Tax Increase Paired With EITC and Child Tax Credit Expansion

Changes in Refundable Tax Credits

Dynamics and Tax Fairness