All Tax VOX
- Taxes: On cuts, sins and severance
Check out the latest economics news from TaxVox, including tax cuts in Wisconsin and Minnesota, the IRS' decision to treat Bitcoin as property and not currency, plus the agency's handling of the tax-exempt status of some political groups.
- Commission eyes tax reform plan for D.C. residents
A city panel is working on ways to revise the revenue system in the nation's capital, including proposed changes that supporters say will reduce taxes for 95 percent of residents.
- A terrible response to the Internet sales tax mess
The US House proposes to base an internet sales tax on the tax rate of a seller's home state. But would that create an unfair advantage to online retailers operating in states without a sales tax?
- Should Apple be paying more taxes?
Apple’s success at avoiding corporate income taxes by shifting reported profits to other countries has frustrated US lawmakers for years. Now, Australia is saying that Apple is underpaying taxes in that country as well. Where should Apple report its income?
- What Dave Camp really brings to tax reform debate
The 1,000-page bill puts his plan out there in all its gory detail. And it makes it possible for analysts here at the Tax Policy Center and elsewhere to chew over details, identify strengths and weaknesses, and suggest improvements.
- Taxes: Supportive to some, desired by others, and absent for many
No one seems to like to bring up arguments in favor of taxes -- except perhaps policy makers -- but the Tax Policy Center notes there are ways of making taxes simpler to implement and fairer to those who pay them.
- Tax Policy Center: Tax plan would add $2.4 trillion to deficit
Howard Gleckman writes that a broad proposal from Utah's junior senator, Mike Lee, would cut taxes for families, but add $2.4 trillion to the deficit, too. But is there a way to implement some of Lee's concepts without taking on a deficit increase?
- House members eye internet sales tax issue
The House Judiciary Committee is taking a closer look at the thorny issue of an internet sales tax today, while Treasury Secretary Jack Lew is set to testify before the Senate Budget Committee about revenue proposals in President Barack Obama's fiscal 2015 budget.
- Opting out of Obamacare? How to calculate your tax penalty.
The deadline to sign up for Obama care is looming, and those who don't have insurance coverage by March 31 will be hit with a tax penalty. A new calculator from the tax policy center will help you determine just how much opting out will cost.
- Camp's tax plan would create new challenges for states
House Ways and Means Chair Dave Camp’s recent tax reform plan would raise the cost of doing business for many state and local governments, but Camp’s plan also includes some less obvious changes that could increase state income tax revenues.
- Tax deductions vary by county
In about one in ten counties, 11 percent or fewer taxpayers itemize while in another 10 percent at least 38 percent of taxpayers claim deductions.
- Forgotten but not gone: The long-term fiscal Imbalance
As the economy slowly improves, it's easy to forget the fiscal calamities that almost befell the nation. But ignoring our long-term financial issues will only create new problems down the road.
- Calculating healthcare penalties, more love for the EITC
Americans with existing healthcare plans will be able to keep those programs for another two years, the Obama administration says, while those without care face a penalty. And maybe a little good news: The average 2013 tax refund was 3 percent higher than the previous year.
- Obama’s 2015 budget hits Capitol Hill
In today's Daily Deduction, Tax VOX reports that President Obama's fiscal 2015 budget will include about $1 trillion in new taxes as several states look to make tax changes of their own.
- Barack Obama, Paul Ryan, and Dave Camp: unpacking budget and tax reform proposals
Between President Barack Obama's budget proposal Tuesday, Rep. Paul Ryan's anti-poverty program takedown Monday, and Dave Camp's tax reform proposal last week, partisan fiscal talks are buzzing in Washington. But they may not be as different as you think.
- Hidden taxes in Camp proposal
Tax Vox' Len Burman takes a closer look at the taxation plan proposed by US Rep. Dave Camp (R-MI). While it seems simple on the surface, Burman writes that Camp's plan introduces new hidden tax rates and other issues.
- GOP House tax plan will be released this week
The House will release a tax plan on Wednesday that would cut the top individual tax rate to 25 percent. Read on for the GOP's tax proposal and and teh rest of today's tax news.
- An updated marriage bonus and penalty calculator
A healthy marriage might be swell most of the year, but from a financial perspective, it might make more sense to stay single at tax time. Tax Vox rolled out a new calculator to help decide whether couples should file taxes jointly or as individuals.
- Should you ask a tax expert to help you understand Obamacare?
Having problems understanding the Affordable Care Act? According to new research, you may be able to take care of your insurance - and taxes - in one sitting.
- How to fix Washington, DC’s, tax system
For US states considering reforms to their tax codes, Howard Gleckman points to Washington, DC, as a guide, where a city commission proposed mix of tax cuts and fee increases for the nation's capital.