Individual Tax Expenditures, Credits, and Deductions

TCJA Family Provisions Offer Template for Tax Reform in 2025

The Tax Cuts and Jobs Act’s changes to family tax policy serve as a reminder to avoid looking at tax reform provisions in a vacuum.

Conference on Tax Cuts and Jobs Act’s Effects Shows Further Tax Reforms Needed in 2025

Lawmakers should see 2025 as an opportunity to consider more fundamental tax reforms. While the TCJA addressed some of the deficiencies of the tax code, it by no means addressed them all.

National Tax Literacy Poll: Understanding the Tax Code

To make sound financial decisions and support better tax policy, taxpayers should understand the taxes they face. Unfortunately, most U.S. taxpayers do not know or are unsure of basic tax concepts.

Overview and Analysis of the Impact of Marginal Taxes on High Incomes in the European Union

The recent push to increase taxes on the wealthy has gained significant traction across Europe. This report highlights the obstacles and complex interplay between tax policy and economic behavior, suggesting that simply raising tax rates on the wealthy might not yield the intended social benefits.

Kansas Lawmakers Should Prioritize Pro-Growth, Structurally Sound Tax Reforms in Special Session

With a robust surplus and plenty saved for a rainy day, Kansas can afford substantial tax relief, but not all tax relief is created equal.

Options for Navigating the 2025 Tax Cuts and Jobs Act Expirations

Policymakers should have two priorities in the upcoming economic policy debates: a larger economy and fiscal responsibility. Principled, pro-growth tax policy can help accomplish both.

Expiring TCJA Tax Provisions in 2026 Would Produce Substantial Tax Hike across the US

At the end of 2025, the individual tax provisions in the Tax Cuts and Jobs Act (TCJA) expire all at once. Without congressional action, most taxpayers will see a notable tax increase relative to current policy in 2026.

Why Are the Individual Tax Cuts Expiring?

The TCJA improved the U.S. tax code, but the meandering voyage of its passing and the compromises made to get it into law show the challenges of the legislative process.

State Income Taxes and the 2024 NFL Draft Class

Here’s how much NFL players can expect to pay in state and local income taxes—to all relevant states—at multiple salary levels, by team.

Gross Income

How Burdensome Are Your State’s Nonresident Income Tax Filing Laws?

One relatively easy but meaningful step policymakers can take to make future tax seasons less burdensome is to modernize their state’s nonresident income tax filing, withholding, and reciprocity laws.

When Looking to Reform Inflation Reduction Act, Start with EV Credits

Over the next 10 years, the IRA’s energy tax credits are projected to cost north of $1 trillion, adding to the federal government’s budgetary challenges and burgeoning debt.

Unstable Taxes and an Unpredictable Future

When the tax code is stable and predictable, individuals, families, and businesses can set goals for the future and make plans to achieve them.

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.

Portugal’s Personal Income Tax System: High Top Rate, Threshold, and Tax Credits

Portugal’s personal income tax system levies high tax rates on an unusually narrow set of high earners, striking a poor balance between earnings incentives and revenue contributions.

Facts & Figures 2024: How Does Your State Compare?

Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.

Considering Tax Reform Options for 2025 (and Beyond)

Given that U.S. debt is roughly the size of our annual economic output, policymakers will face many tough fiscal choices in the coming years. The good news is there are policies that both support a larger economy and avoid adding to the debt.

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.

Tax Calculator: How the TCJA’s Expiration Will Affect You

Unless Congress acts, Americans are in for a tax hike in 2026.

Evaluating the Proposed Tax Changes in Illinois Governor’s FY 2025 Budget

In his FY 2025 budget, Illinois Gov. Pritzker outlined a number of proposed tax changes, including to individual and corporate income taxes, state sales taxes, and sports betting excise taxes.