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.
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.
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.
Cutting tax rates is a good idea in theory, but it is very, very difficult to pull off, Gleckman 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.
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?
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.
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.
Simply bashing the IRS for its faults won’t help fix a troubled and often badly-managed agency, Gleckman argues.
There isn't much talk on Capitol Hill debating the merits of specific individual tax preferences. The different plans being circulated, however, would each have radically different outcomes, Gleckman says. Here's how they break down.
On average, large US corporations paid a 16.6 percent federal tax rate in 2010 — far lower than the 35 percent statutory tax rate. Gleckman breaks down the Government Accountability Office's analysis of this trend.
A study by the National Academy of Sciences says that extending energy-related tax preferences would do little or nothing to reduce greenhouse gasses.
Congress has been debating how to tax managers of private equity firms for a decade. But what if they aren't being taxed the right way in the first place?
Senators Max Baucus (D-Mont.) and Orrin hatch (R-Utah) are pushing forward a blank slate rewrite plan, but Gleckman says they are off target. Tax reform will come with a specific set of rates and limited preferences — not a blank slate, Gleckman argues.
America's net debt will expand to almost 10 percent of GDP by 2023, while financial assets will grow twice as fast as the public debt. As the federal investment portfolio expands, the growing public debt is overstating the US' debt burden, Gleckman says.
The Social Security Disability Insurance program is critically important to people with disabilities, but it is struggling with a litany of administrative and financial problems — and even due to become insolvent by 2016, Gleckman says. He offers three possible reforms for the program.
If Congress is going to reform the tax code, it will take an enormous amount of hard work and a lot of luck. But right now, tax reform just can't catch a break.
Is the concept of jointly filing federal tax returns outdated? A Yale professor thinks so, arguing that, in the 21st century, families no longer necessarily consist of a married man and woman with children. As the Supreme Court considers whether same-sex married couples should have the right to joint filing, Gleckman takes on her argument.