Individual Income and Payroll Taxes

Ranking Individual Income Taxes on the 2021 State Business Tax Climate Index

IRS Signals Approval of Entity-Level SALT Cap Workaround, But States Should Still Think Twice

Prospects for Federal Tax Policy After the 2020 Election

President Biden and Congress should concentrate on areas of common ground, finding incremental places to improve the tax code. A bipartisan bill recently introduced to help retirement savings is a good model for what incremental reform may look like.

Election Analysis: Why Voters Split the Difference on Income Tax Measures

Illinois voters rejected a high graduated rate income tax (“Fair Tax”) while Arizonans embraced a large income tax rate increase for high earners, among the many attention-grabbing results from Tuesday’s elections.

Results of 2020 State and Local Tax Ballot Measures

See the results of the most notable state and local tax ballot measures during Election 2020 with our curated resource page.

Biden’s Call for More Tax Credits Further Complicates the Tax Code

Over the course of the 2020 presidential election campaign, Democratic nominee Joe Biden has proposed new tax credits for health insurance, child care, elderly care, and homeownership, in addition to expansions of the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC).

Bipartisan House Bill Introduced to Further Encourage Retirement Savings

The Securing a Strong Retirement Act seeks to encourage retirement savings by simplifying and expanding the use of different types of retirement accounts.

Spain’s Recovery Budget Comes with Tax Hikes

While other countries in Europe are working towards introducing tax cuts and stimulating economic recovery by supporting business investment and employment, Spain is putting more fiscal pressure on households and businesses.

A Preliminary Look at 2019 Tax Data for Individuals

The latest IRS data continues to illustrate that the net effect of the Tax Cuts and Jobs Act was to reduce effective tax rates across income groups. In 2019, the TCJA again expanded the use of several deductions and credits, made the standard deduction more favorable than itemizing, and lowered taxes for most taxpayers.

The Unintended Consequences of Higher Corporate Taxes on Income Inequality

Increasing the corporate tax rate is often offered as a solution to income inequality because higher-income individuals tend to own more corporate shares than others and may bear the burden of a tax increase on corporate income.

Comparing Europe’s Tax Systems: Individual Taxes

How do individual income tax codes compare among European OECD countries? Explore our new map to see how individual income tax systems in Europe compare.

2021 Tax Brackets

The IRS recently released the new 2021 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 Framework for the Future: Reforming the UK Tax System

Our new guide identifies key areas for improvement in UK tax policy and provides recommendations that would support long-term growth without putting a dent in government revenues.

Placing Joe Biden’s Tax Increases in Historical Context

If we consider Biden’s tax plan over the entire budget window (2021 to 2030) as a percentage of GDP—1.30 percent—it would rank as the 6th largest tax increase since the 1940s and and one of the largest tax increases not associated with wartime funding.

Details and Analysis of President Joe Biden’s Campaign Tax Plan

What has President Joe Biden proposed in terms of tax policy changes? Our experts provide the details and analyze the potential economic, revenue, and distributional impacts.

Tracking the 2020 Presidential Tax Plans

Biden-Harris Proposals Can Raise Taxes on the Middle Class

If we look at both the legal incidence of the Biden-Harris policy proposals and their economic incidence, we find both direct and indirect tax increases on many taxpayers who earn less than $400,000.

2021 State Business Tax Climate Index

Top Rates in Each State Under Joe Biden’s Tax Plan

President Joe Biden’s tax plan would yield combined top marginal state and local rates in excess of 60 percent in three states: California, Hawaii, and New Jersey (also New York City).

How Would Biden’s Tax Plan Change the Competitiveness of the U.S. Tax Code?

While the Biden campaign is certainly focused on increasing taxes on U.S. businesses and high-income earners, it is important that policymakers also understand what that reversal might do to U.S. competitiveness, and the competitive global environment in which U.S. companies and U.S. workers operate.