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Tax Relief for Families in Europe
Most countries provide tax relief to families with children—typically through targeted tax breaks that lower income taxes. While all European OECD countries provide tax relief for families, its extent varies substantially across countries.
2 min readHEROES Act Dependent Expansions Come with Major Drawbacks
The HEROES Act adds to the confusion and instability already inherent in the tax code with multiple expiring provisions and reduced filing guidelines.
4 min read
HEROES Act Temporarily Increases Dependent Credit Generosity
The HEROES Act would make notable expansions to all three dependent-related credits, increasing maximum credit amounts, refundability, and income eligibility phaseouts. Practically, this means that certain filers could expect to receive a larger refund for each additional hour of work, eligible dependent, and dependent care expenses if the bill became law.
5 min read
HEROES Act First Bid to Provide Phase 4 Relief for Businesses and Individuals
The HEROES Act, the $3 trillion relief package proposed by House Democrats, is the first bid to provide additional phase 4 aid for businesses and individuals amid the coronavirus pandemic.
7 min read
The Child Tax Credit: Primer
The Child Tax Credit (CTC) is a partially-refundable tax credit available to parents with qualifying dependents under the age of 17. Like other tax credits, the CTC reduces tax liability dollar-for-dollar of the value of the credit.
25 min read
Tracking State Legislative Responses to COVID-19
Many states are racing to pass budgets, emergency COVID-19 supplemental appropriations, and other must-pass legislation as quickly as possible. We’re tracking the latest state legislative responses to the coronavirus crisis.
66 min read
Weighing the Value of Tax Credits During an Economic Crisis
One idea under consideration is adjusting existing tax credits, such as the Child Tax Credit (CTC) or Earned Income Tax Credit (EITC), to provide financial relief during the crisis.
5 min read
Tracking Economic Relief Plans Around the World during the Coronavirus Outbreak
Countries around the world are implementing emergency tax measures to support their economies under the coronavirus (COVID-19) threat.
51 min read
Overview of Previous Tax Rebates During Economic Downturns
The timing from enactment to distribution has varied from about one and a half months to more than two months, indicating that it has historically taken a significant amount of time for individual taxpayers to receive their rebates after the policies have been put in place.
4 min read
How the Federal Government and the States Could Help Save Small Businesses Through Temporary UI Tax Adjustments
Governmental responses to the coronavirus outbreak will require creativity and flexibility—and one aspect of that may involve temporarily rethinking how we structure not only unemployment insurance (UI) benefits but also the taxes that pay for them.
5 min read
Senate Receives Final Version of House Coronavirus Bill Offering Paid Leave
The House bill would provide two weeks of paid sick leave to workers who must quarantine, take care of a family member who is sick with coronavirus, or care for their children whose school or daycare has closed due to the public health emergency.
2 min read
Tax Options for Economic Relief During the Coronavirus Crisis
Instead of simply reaching for fiscal stimulus with the goal of increasing economic activity, tax policy changes can give vulnerable individuals and businesses additional liquidity and space to survive the reduction in economic activity needed in light of the coronavirus outbreak.
5 min read
House of Representatives Bill Would Expand Paid Sick, Family, and Medical Leave to Address the Coronavirus Crisis
The bill, the Families First Coronavirus Response Act, would expand federal medical leave, create an emergency paid sick leave requirement, and provide tax credits against employer-side payroll taxes to help offset the cost of these two programs, among other provisions.
3 min read
