All Tax VOX

State-legal marijuana producers and retailers are seeking to take advantage of deductions they are now denied under their ambiguous legal status. But some may want to get into the tax system just so they can harvest the many generous deductions it offers.

The IRS ruled Thursday that, for tax purposes, same-sex married couples are married regardless of where they live. That ruling answers the question of what filing status the couple must use but also complicates tax filing for same-sex couples that live in states that prohibit their marriages.

In 2009, the Tax Policy Center estimated that 47 percent of households paid no federal income tax – a figure that played a big role in last year's presidential election. This year, just 43 percent will avoid the tax. Why the drop? 

In Washington's current dysfunctional atmosphere, attempts at real tax reform are likely to get lost in the cacophony, Gleckman writes. But for many in Washington, replacing serious debate with loud short-term squabbles over phony fiscal crises is exactly the idea.     

The problematic alternative minimum tax (AMT) will affect millions of Americans this year, according to a recent study. Barring sweeping tax reform, the number of US taxpayers that have to pay the AMT will continue to rise. 

A new paper aims to stitch together a retirement plan that combines the growth potential of a 401(k) with the security of a defined benefit pension plan. 

It depends on where a couple lives. Some states continue to not recognize same-sex marriage, meaning couples married legally in other states who move elsewhere may have to file federal taxes separately. 

Although it may seem like Congress could pay for corporate tax rate cuts, much of the burden of tax reform could fall on people — investors, workers, and consumers, Williams says. It will be difficult to ensure that tax reform will be both revenue neutral and fair to taxpayers, he adds.

Cutting tax rates is a good idea in theory, but it is very, very difficult to pull off, Gleckman says. 

The "net savings" of state and local governments fell from a deficit of $129 billion to a deficit of $252.7 billion in the latest figures released by the Bureau of Economic Analysis. The BEA's revised methodology is more accurate than others' in showing how much state and local governments owe, and it suggests that cities and states are underestimating their pension obligations, Gordon says.

It's not pretty. To offset the cost of tax reform, Congress may have to eliminate trillions of dollars in tax preferences for individuals and businesses. Gleckman walks readers through who's saying what on the topic right now.

Wages account for less than half of a US household's income. Surprised? Gleckman breaks down where the rest of your money comes from.

US cities should take note: Political dysfunction and unfunded pension liabilities were two big factors leading to Detroit filing for bankruptcy, Gordon says. 

Public debt shrank from being 75 percent of GDP to 72.5 percent of GDP. Likewise, average spending is down from 21 percent of GDP to 20.5.

President Barack Obama proposed cutting corporate tax rates and using the revenue to generate jobs. Republicans shut it down. Is the tax reform battle stuck at an impasse?

Private equity funds are engaged in a trade or business under the Employee Retirement Income Security Act (ERISA), a court ruled this week. Now may be a good time for private equity funds, their managers, investors, and advisers to reexamine their tax position.

The OECD released a report last week announcing it would take steps to stop multinational corporations like Starbucks, Apple, and Google, from dodging taxes. The report is the first step of many to come, but Gleckman says it's a good sign.

Rueben walks readers through Detroit's bankruptcy, analyzing how it happened, what is next for Detroit, and how this will affect other financially struggling cities.

Not as much as critics of the Affordable Care Act think, Gleckman says. Allegations of widespread tax fraud by low-income Americans are exaggerated.

Critics of Obamacare say the IRS will not be able to stop people from being dishonest when they file their income tax returns. Gleckman argues otherwise.