Testimony: International Tax Avoidance
Lawmakers should aim for policies that support investment and hiring in the United States and refining anti-avoidance measures to improve administrability and lower compliance costs.
9 min read
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New National Tax Literacy Poll Highlights Need for Better Tax Education
Despite taxes playing a significant role in personal finances and being levied on a sizable portion of the U.S. population, most Americans are not just unhappy with the current tax code but also do not understand it.
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Details and Analysis of President Biden’s Fiscal Year 2025 Budget Proposal
President Biden is proposing extraordinarily large tax hikes on businesses and the top 1 percent of earners that would put the U.S. in a distinctly uncompetitive international position and threaten the health of the U.S. economy.
19 min read
Summary of the Latest Federal Income Tax Data, 2024 Update
The 2021 tax year was the fourth since the Tax Cuts and Jobs Act (TCJA) made many significant, but temporary, changes to the individual income tax code to lower tax rates, widen brackets, increase the standard deduction and child tax credit, and more.
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Blog
Short FormWhy Your Tax Refund Is Nothing to Celebrate
Don’t be fooled by tax myths and misconceptions this tax filing season.
3 min read
Major Takeaways from CBO’s Updated Long-Term Outlook
The CBO projects deficits will be higher than historical levels, largely due to growth in mandatory spending programs While some recent legislation has reduced the deficit, the Inflation Reduction Act is proving to be more expensive than originally promised.
5 min read
Why Moore v. U.S. Won’t Get Us a Consumption Tax Base
At first glance, a ruling for the plaintiffs in Moore might seem to solve some of the timing problems with the U.S. tax system. Unfortunately, upon greater inspection, such a ruling might create new timing problems. And the more rigid the ruling, the harder it would be to fix the timing problems it would create.
5 min read
Testimony: The Costs and Complexity of the Federal Tax Code Demand Reform
Lawmakers should simplify the tax code so that taxpayers can understand the laws and the IRS can administer them with minimum cost and frustration.
36 min read
IRS Report Shows Closing the Tax Gap Would Not Close the Deficit
The latest tax gap report from the IRS has generated much media attention—and much misunderstanding.
6 min read
How Taxing Consumption Would Improve Long-Term Opportunity and Well-Being for Families and Children
Income taxes impose steeper economic costs, and often steeper administrative and compliance costs, than consumption taxes. Moving to a consumption tax would end the tax bias against saving and investment and provide an opportunity to greatly simplify anti-poverty programs embedded in the tax code.
45 min read
Nonprofits are Financially Healthy and Doing Big Business
Can an organization rightfully be called a “nonprofit” if it almost always makes money? And what if most of that organization’s income comes from “business income,” should it legitimately be considered a “charity”?
7 min read
How the Moore Supreme Court Case Could Reshape Taxation of Unrealized Income
A major case pending before the U.S. Supreme Court (Moore v. United States) is calling into question provisions on large portions of the U.S. tax base which could quickly become legally uncertain, putting significant revenue at stake.
7 min read
The Inflation Reduction Act One Year Later
One year after its enactment, there are concerns about the Inflation Reduction Acts overall fiscal impact, the additional complexity it introduces to the tax system, and the sustainability of its initiatives.
The Big Business of Tax-Free College Sports
Moving from one athletic conference to another can mean millions in additional revenue sharing from lucrative broadcasting contracts and other revenue streams, all tax-free.
6 min read
Summary of the Tax Credits Claimed on the Form 1040, Tax Year 2020
In tax year 2020, taxpayers claimed more than 159 million tax credits on their individual income tax returns worth a total of more than $277 billion. That was an increase of $35.3 billion from tax year 2019, largely due to an influx of pandemic relief administered through the tax code in 2020.
6 min read
Inflation Reduction Act One Year After Enactment
Congress should reconsider key elements of the IRA, including the book minimum tax and the green energy credits, with an eye towards simplification and fiscal responsibility.
46 min read
Inconsistent Tax Treatment of Student Loan Debt Forgiveness Creates Confusion
Starting on September 1st, federal student loan payments will resume after a three-and-a-half-year pause on payments and accrued interest following the onset of the COVID-19 pandemic.
6 min read
Details and Analysis of the American Families and Jobs Act
Details and analysis of the latest House GOP tax plan, the American Families and Jobs Act. Learn more about the House Republican tax plan.
7 min read
“Monetizing” Clean Energy Tax Credits Creates a Sham Market for Bad Policy
Explore IRS clean energy tax credits, including Direct Pay, the IRA and CHIPS Act tax provisions, and Section 1603 grant program. See more.
7 min read
The U.S. Tax Code Is Too Complex for Direct eFile to Work
It is hard to imagine the IRS Direct e-File Program operating seamlessly with the complexity of the current U.S. tax system. Instead, lawmakers should first address the more fundamental problem that causes taxpayer frustration: our highly complicated tax code.
4 min read