Washington is going through another one of its periodic calls for business tax reform. But new research shows just how hard it is to separate business taxation from the individual tax code. And it should serve as a warning to those who think Congress can enact corporate tax reform that ignores it.
The Treasury's new rules won't stop the wave of corporate tax inversions – Treasury Secretary Jack Lew acknowledged as much when the agency proposed the curbs yesterday. Will they slow the practice? Perhaps, but even that is not certain.
The Treasury Department is moving to close loopholes that allow US companies, like Burger King, to move corporate headquarters overseas for a lower tax bill. But the debate continues over whether Treasury even has the power to limit the practice.
The argument to repeal the corporate income tax has gained a lot of steam. But what would replace it?
The latest projections from the Congressional Budget Office expect the federal deficit to shrink, but the more interesting story is what is expected to happen to federal spending under current law.
All the fracas over tax inversions like the recent Burger King-Tim Horton's merger has generated some interesting ideas for broader changes in the way we tax multinational firms. One would base a firm’s US taxable profits on the US share of its total worldwide sales.
Treasury Secretary Jack Lew is considering regulatory curbs on corporate tax inversions as a growing number of US companies, like Pfizer and potentially Burger King, take them on as a way to lower their tax bills.
Reducing tax rates is a guiding principal of most tax reform plans. But how much does Treasury lose when Congress reduces individual tax rates, and which taxpayers benefit the most from the cuts?
For all the hand-wringing about the budget deficit, Congress passed two important bills last week, but with no idea how to pay for either of them. The deficit is an issue lawmakers care deeply about, except when they don’t.
The Treasury Department announced that it would allow people to shift a portion of their 401(k)s or IRAs into a deferred annuity that provides a guaranteed stream of income once people reach old age. What does that mean for the future of retirement saving?
President Barack Obama and other politicians have said US-based multinational corporations who move their corporate addresses are unpatriotic. What is so controversial about tax inversions, Howard Gleckman asks, and is it really unpatriotic?
The US's tax system is turning into a two-tier tax system, with wealth as the determining factor, writes Howard Gleckman. Many affluent and influential people and organizations have almost unlimited power when it comes to their taxes.
As Congress tries to ban the practice of inversions – when US based multinationals merge with foreign firms to lower their tax bill – it actually puts Congress and US corporations on a destructive path, writes Howard Gleckman. What does that mean for reform within US corporate tax system?
Between June 2013 and June 2014, Kansas saw its tax revenue fall by 11 percent. Why is Kansas still making so many tax cuts then, questions Howard Gleckman.
Congress needs to start being realistic and serious about the future of the Highway Trust Fund, writes Howard Gleckman. Although the Highway Trust Fund worked in the past, it is time for a long-term solution – not just pension smoothing and other gimmicks.
Analysis of House Ways and Means Committee Chair Dave Camp's tax reform plan shows that the plan would raise the same amount of money in 10 years as the current law, writes Howard Gleckman. Still, the long-term effects aren't completely certain yet.
The US Treasury will lose $5 billion in lost revenue over the next decade. Why? Congress used the wrong math formula for the Social Security and Medicare payroll tax.
The Committee for a Responsible Federal Budget has created an updated online budget simulator. The public plays the online game with the objective to stabilize the debt at 60 percent of Gross Domestic Product by 2024.
Senators Bob Corker (R-TN) and Chris Murphy (D-CT) proposed a gas tax raise to pay for transportation projects. They had a good idea, but they are ruining it with restoring $190 billion in targeted tax breaks, writes Howard Gleckman.
The Ways and Means Committee sent the House a bill that has a 'job-killing exclusion' that would hurt growers of blueberries, raspberries, and other fruits from bushes, writes Howard Gleckman. How did this happen?