Whether you are a seasoned tax professional or just learning the basics, Tax Foundation University offers valuable knowledge on individual and business tax policy and how taxpayers respond to the code. The course is designed for congressional staff, focusing on tax provisions often targeted for reform and explaining current tax issues before Congress with an eye towards their economic implications.
Tax Foundation University 2025 Overview
Tax Foundation University is a free lecture series designed to equip congressional staffers with valuable and timely insights on tax policy and economics. The three, one-hour sessions feature Tax Foundation experts explaining the essential components of the tax code and how to analyze tax policy like a tax economist. This year, as the upcoming Tax Cuts and Jobs Act expirations take center stage, our lessons feature timely tax provisions and how students should apply the principles of sound tax policy.
Upon satisfying the course requirements, students will receive a certification of completion from the Tax Foundation. To earn the certificate, students must attend at least two of the three lectures and earn a passing grade for each course assessment. We will provide a copy of the certificate at graduation after our final class, and you will receive an electronic copy that can be added to your LinkedIn profile. If you would like to learn more about the course materials, see the recordings from Tax Foundation University 2024.
2025 Curriculum
Session 1: The Individual Tax Code
In the first class, Garrett Watson covers the individual tax code. This includes the items in a typical individual income tax return, explaining how pass-through businesses interact with the individual income tax, and popular family and worker tax credits used by millions of taxpayers. Garrett discusses the upcoming individual tax changes related to the 2017 Tax Cuts and Jobs Act (TCJA), which are scheduled to expire at the end of the year, and options policymakers can consider to address the looming expirations.Areas of Focus
- Review of a Typical Individual Tax Return
- How Do Pass-Through Businesses Pay Taxes?
- Family and Worker Tax Credits
- TCJA Expirations (Individual)
Related Resources
- Video: How Do Tax Brackets Work?
- Video: The Three Basic Tax Types
- Interactive Tool: How the TCJA’s Expiration Will Affect You
Glossary Terms
- Adjusted Gross Income (AGI)
- Alternative Minimum Tax (AMT)
- Capital Gains Tax
- Child Tax Credit (CTC)
- Earned Income Tax Credit (EITC)
- Flat Tax
- Graduated Rate Income Tax
- Individual Income Tax
- Inflation Indexing
- Itemized Deduction
- Marginal Tax Rate
- Progressive Tax
- Refundable Tax Credit
- Regressive Tax
- Standard Deduction
- State and Local Tax (SALT) Deduction
- Tax Bracket
- Tax Credit
- Tax Cuts and Jobs Act (TCJA)
- Tax Deduction
- Tax Exemption
- Taxable Income
- Withholding
Session 2: The Business Tax Code
In the second of three sessions, Erica York provides overview on how C corporations and pass-through businesses pay taxes and how business taxes affect investment, employment, and wages. Key concepts such as the corporate income tax, cost recovery, and Section 199A (pass-through business) deduction are explained.
Erica discusses the business tax expirations under the Tax Cuts and Jobs Act (TCJA), and major tax provisions in the Inflation Reduction Act (IRA). To finish, the class reviews options for further reforms.
Areas of Focus
- The Basics of Business Income Taxes
- Impact of the Corporate Tax on Investment and Workers
- Do Corporations Pay $0 in Federal Taxes?
- TCJA Expirations and Options for Tax Reform
Related Resources
- Video: Going Beyond the Headlines: Understanding Corporate Taxes
- Video: It Pays to Keep it Simple
- Video: Who Bears the Burden of the Corporate Income Tax?
- Video: Tax Reform Is More Than Just the Rate
Glossary Terms
Session 3: The International Tax Code
For our final session, Alan Cole provides an overview of how multinational entities (MNEs) pay taxes, the goals of sound international tax policy, and recent and upcoming changes to our international tax code.
Alan explains how the international tax code impacts MNE’s decisions to hire and make investments in the US and influence the competitiveness of US companies abroad.
Relevant to the 2025 tax expirations, learn about the scheduled international tax changes under the Tax Cuts and Jobs Act (TCJA) and the essentials of global minimum tax.
Areas of Focus
- The Basics and Goals of International Tax Policy
- Why Does International Tax Policy Matter for Jobs, Wages, and Investment?
- What Is Profit Shifting?
- Upcoming Changes to the International Tax Code
- The Global Minimum Tax and Implications for US Tax Policy
Related Resources
- The Impact of GILTI, FDII, and BEAT
- The Latest on the Global Tax Agreement
- Video: GILTI: Foreign Tax, Local Impact
- Video: It Pays to Keep it Simple
- The Short Form: What You Need to Know About the Global Tax Deal
Glossary Terms
- Base Erosion and Anti-Abuse Tax (BEAT)
- Foreign-Derived Intangible Income (FDII)
- Global Intangible Low-Taxed Income (GILTI)
- OECD Pillar 1
- OECD Pillar 2 (Global Minimum Tax)
- Patent Box
- Profit Shifting
- Qualified Business Asset Investment (QBAI) Exemption
- Repatriation
- Territorial Tax System
- Undertaxed Profits Rule (UTPR)
- Worldwide Tax System
- Tax Cuts and Jobs Act (TCJA)
Past Sessions
Session 1: International Tax Code
In the first of three sessions, our experts will provide an overview of how multinational entities (MNEs) pay taxes, the goals of sound international tax policy, and recent and upcoming changes to our international tax system. Particularly, we will cover how the Tax Cuts and Jobs Act (TCJA) changed the international tax system, which scheduled changes to TCJA’s international system will still go into effect, and upcoming issues with the OECD’s global minimum tax proposal.Areas of Focus
- The Basics of Multinational Tax Systems
- The Basics of Profit Shifting
- The Goals of Multinational Tax Systems
- The Impact of TCJA
- Preparing for the Global Minimum Tax
Related Resources
- The Impact of GILTI, FDII, and BEAT
- The Latest on the Global Tax Agreement
- Video: GILTI: Foreign Tax, Local Impact
- Video: It Pays to Keep it Simple
- The Short Form: What You Need to Know About the Global Tax Deal
Glossary Terms
- Base Erosion and Anti-Abuse Tax (BEAT)
- Foreign-Derived Intangible Income (FDII)
- Global Intangible Low-Taxed Income (GILTI)
- OECD Pillar 1
- OECD Pillar 2 (Global Minimum Tax)
- Patent Box
- Profit Shifting
- Qualified Business Asset Investment (QBAI) Exemption
- Repatriation
- Territorial Tax System
- Undertaxed Profits Rule (UTPR)
- Worldwide Tax System
- Tax Cuts and Jobs Act (TCJA)
Session 2: The Business Tax Code
In the second of three sessions, our experts will provide an overview of how C corporations and noncorporate businesses pay taxes, how business taxes affect investment and wages, and the implications of scheduled and potential changes to the business tax system.
Our experts will discuss recent developments in the business tax landscape, including the Inflation Reduction Act (IRA) and CHIPS Act, upcoming business tax expirations under the Tax Cuts and Jobs Act (TCJA), and options for further reforms.
Areas of Focus
- The Basics of Corporate Income Taxes
- The Basics of Noncorporate Income Taxes
- Impact of the Corporate Tax on Investment and Workers
- Do Corporations Pay “Zero” in Federal Taxes?
- Industrial Policy and Options for Tax Reform
Related Resources
- Video: Going Beyond the Headlines: Understanding Corporate Taxes
- Video: It Pays to Keep it Simple
- Video: Who Bears the Burden of the Corporate Income Tax?
- Case Study: Cutting State Corporate Taxes
Glossary Terms
Session 3: The Individual Tax Code
In the third session, our experts will cover the individual tax code. We will break down the items you find in a typical individual income tax return, review how pass-through businesses interact with the individual income tax, discuss the progressivity of the federal tax code, and cover the family and worker tax credits built into the tax code.
We will also discuss upcoming individual tax changes related to the 2017 Tax Cuts and Jobs Act (TCJA), which are scheduled to expire at the end of 2025, and options policymakers have to address the looming expirations.
Areas of Focus
- Review of a Typical Individual Tax Return
- How Do Pass-Through Businesses Pay Taxes?
- Is the Tax Code Progressive?
- Family and Worker Tax Credits
- TCJA Expirations
Related Resources
- Video: How Do Tax Brackets Work?
- Video: The Three Basic Tax Types
- Case Study: Average vs. Marginal Tax Rates
- Research: America’s Progressive Tax and Transfer System: Federal, State, and Local Tax and Transfer Distributions
Glossary Terms
- Adjusted Gross Income (AGI)
- Alternative Minimum Tax (AMT)
- Capital Gains Tax
- Child Tax Credit (CTC)
- Earned Income Tax Credit (EITC)
- Flat Tax
- Graduated Rate Income Tax
- Individual Income Tax
- Inflation Indexing
- Itemized Deduction
- Marginal Tax Rate
- Progressive Tax
- Refundable Tax Credit
- Regressive Tax
- Standard Deduction
- State and Local Tax (SALT) Deduction
- Tax Bracket
- Tax Credit
- Tax Cuts and Jobs Act (TCJA)
- Tax Deduction
- Tax Exemption
- Taxable Income
- Withholding
Tax Foundation University 2023
Whether you are a seasoned tax professional or just learning the basics, the Tax Foundation University course offers valuable knowledge on the individual and business federal tax code and how taxpayers respond to the code.
The course is designed for congressional staff, focusing on tax provisions often targeted for reform and explaining current tax issues before Congress with an eye towards their economic implications.
The Tax Foundation hosted a two-hour session with our experts to cover the essentials of the tax code and how to analyze tax policy like a Tax Foundation economist.
At the end of the session, you will understand the structure of the federal tax code, current tax issues for Congress, and the impact of new and changing tax laws like the provisions in the Inflation Reduction Act and Tax Cuts and Jobs Act.
Further, you will learn how our experts analyze tax policy and explain its impacts on workers, small businesses, and America’s largest job creators.
To finish, we will overview new features of our macroeconomic model that democratize tax analysis.
TFU 2022, Session 1: The Corporate Income Tax
In the first of three sessions, our experts explained key parts of the corporate and international tax code, the current tax landscape, implications of scheduled and potential changes, and the latest research on who bears the burden of corporate income taxes.
Our experts discussed key concepts proposed as part of the Build Back Better agenda, such as profit shifting, differences between taxable and book income, and the tax treatment of other types of financial income. They also offered a lay of the land for international tax provisions and how the OECD tax deal could play a significant role in U.S. tax policy.
Areas of Focus
- The Basics of the Corporate Income Tax
- Impact of the Corporate Tax on Workers and Businesses
- Do Corporations Pay “Zero” in Federal Taxes?
- Corporate Book Minimum Tax, Higher Corporate Rate, and R&D Tax Policies
- International Tax Code and OECD Tax Deal Discussion
Related Resources
- Video: Going Beyond the Headlines: Understanding Corporate Taxes
- Video: Who Bears the Burden of the Corporate Income Tax?
- Case Study: Cutting State Corporate Taxes
- Case Study: Global Tax Deal
- Podcast: Let’s Make a Global Tax Deal
- Podcast: Corporate Tax Rates Around the World
Glossary Terms
TFU 2022, Session 2: The Individual Income Tax
The second session of Tax Foundation University 2022 will cover key parts of the individual tax code, explaining why it contains elements of income and consumption taxes and how it applies to a growing share of businesses, colloquially known as “pass-throughs.”
Our experts will discuss the temporary expansion of work and child-related provisions and its impact on growth. Finally, you will learn about ideas proposed as part of the Build Back Better agenda, including a high-income surcharge, mark-to-market tax, and pass-through business tax increases.
Areas of Focus
- The Components of a Typical Tax Return
- Basis of Our Tax Code
- Is the Tax Code Progressive?
- Family and Worker Credits
- BBB Proposals
Related Resources
- Data: Summary of the Latest Federal Income Tax Data, 2022 Update
- Data: 2022 Tax Brackets
- Primer: Not All Taxes Are Created Equal
- Analysis: House Build Back Better Act: Details & Analysis of Tax Provisions in the Budget Reconciliation Bill
- Blog: What’s Going on with the Child Tax Credit Debate?
- Podcast: The Child Tax Credit Score
Glossary Terms
Tax Foundation University 2022, Session 3: 10 Tax Reforms for Growth and Opportunity
The return of high inflation after 40 years should cause policymakers to rethink their approach, get back to basics, and focus on economic growth and opportunity. Tax reform should be a key pillar in this approach.
The third session of Tax Foundation University 2022 will provide a demo of the Tax Foundation’s Taxes and Growth (TAG) Model and an overview of Tax Foundation’s 10 Tax Reforms for Growth and Opportunity. We will discuss how charting a path of increased economic opportunity, innovation and dynamism, growing industries, and greater financial security can be facilitated by better tax policy.
Areas of Focus
- Demo of the Taxes and Growth Model
- Six Business Tax Reforms
- Four Individual Tax Reforms
Related Resources
- Paper: 10 Tax Reforms for Growth and Opportunity
- Primer: Dynamic Scoring Made Simple
- Primer: Not All Taxes Are Created Equal
Glossary Terms
Praise for Tax Foundation
“The Tax Foundation was a valuable resource for me and my colleagues when we grappled with difficult tax questions in Colorado, and their insight into state taxation would benefit any lawmaker or legislative staffer.”
— Former Colorado Rep. Tracy Kraft-Tharp (D),
Chair, Sales and Use Tax Simplification Task Force
“My colleagues and I have long turned to the Tax Foundation for answers to our tax policy questions, and I'd encourage any lawmaker or legislative staffer to take this opportunity to learn from them as well.”
— West Virginia Delegate Eric Householder (R),
Chair, House Finance Committee
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