All Tax VOX

The IRS marks Earned Income Tax Awareness Day Friday. Given the value of the Earned Income Tax Credit, it is important to remind low-income families that it is a big reason why they should file a tax return, Maag writes.

Republicans and Democrats are setting out fiscal goals that are light-years apart, Gleckman writes. Here are five stumbling blocks to a budget deal:

President Barack Obama's second inaugural address perfectly defined what will be the great domestic policy debate of not only the next four years but the next decade, Gleckman writes.

The newly enacted American Taxpayer Relief Act of 2012 will permanently protect millions of taxpayers from having to pay the alternative minimum tax without Congress having to approve a temporary patch every year or so, Williams writes.

Under the 'fiscal cliff' deal, singles face a rate of 35 percent if their taxable income falls between $398,350 and $400,000, Gleckman writes. The bracket covers a grand total of $1,650.

Japan's latest attempt at fiscal stimulus is heavy on infrastructure spending and disaster preparedness, and includes $117 billion in central government spending, Harris writes.

A budget deal is unlikely to happen because all the incentives—both political and economic—are completely wrong, Gleckman writes.

A proposal to replace income tax with a higher sales tax in Louisiana could lower compliance and administrative burdens, Harris writes. But it’s not worth asking low-income households to shoulder such a large share of the burden to achieve such a small statewide gain, he adds.

The 'fiscal cliff' deal means some states will lose revenue they were counting on from scheduled changes in the federal estate tax that won’t happen, Francis writes.

The "fiscal cliff", which was to be the ultimate forcing mechanism, instead became something of legislative self-parody, Gleckman writes.

The "fiscal cliff" deal's phaseout of itemized deductions is really a sneaky way to raise marginal income tax rates and creates an economic incentive to give to charities, Burman writes.

The "fiscal cliff" deal tells two important stories – Gleckman writes – one about budget policy and the other about budget politics. 

The current US corporate income tax in effect imposes a fee on companies that are publicly traded. The tax is neither efficient nor progressive.

TaxVox's Lump of Coal Awards covers a broad swath of fiscal policy missteps for the year.

In trying to reach a compromise on the 'fiscal cliff,' Democrats and Republicans seem determined to protect millions of high-income people from paying more taxes. But the working class could easily end up paying more.

The fiscal cliff debate thus far leaves the most vulnerable families quite close to the edge, Maag writes.

Somehow we must find ways to gain control over spending on Medicare and Medicaid, Penner writes.

President Dwight Eisenhower truly believed that budgets should be balanced, and his 1960 budget incorporated severe spending restraint and only minor tax increases, Penner writes.

Fiscal cliff talks are at an impasse, and there has been talk that House Republicans will pass the Middle Class Tax Cut Act approved by the Senate last summer. It's a problematic and ineffective idea.