The return is a case study for why the Alternative Minimum Tax, for all its flaws, serves a useful purpose. But it’s mostly strong evidence that the basic law desperately needs fixing.
Bill Gates recently offered a simple solution to the problem of automation: Tax the robots. But that premise raises several thorny issues.
This is a cautionary tale about the dangers of rushing a major change in health and tax laws through a legislative short cut – one that may prove timely in the current debate over the ACA.
In addition to major revisions to Medicaid and other parts of the health care system, the new American Health Care Act proposes a number of changes to tax law. Here's what they are.
What do Russia and the Affordable Care Act have to do with taxes? Everything.
Congress and President Trump are embarking on what is likely to be a major rewrite of the federal income tax code. Yet no one knows whether the hundreds of tax preferences embedded in the law accomplish their purpose.
The spending plan Trump aides described this week will never pass Congress, not even one where both chambers are controlled by Republicans, says the Tax Policy Center.
On the surface, income tax breaks might sound like a very nice perk for retirees. Supporters say they would reduce the tax burden on low-income seniors, and perhaps make a state more attractive to wealthier retirees. But neither argument holds up.
Some lawmakers claim a border-adjustable tax will raise massive amounts of revenue to help pay for corporate tax cuts and give a powerful jolt to US-based manufacturers. But both cannot be true.
February 15 was the first day those who claim either the EITC or the ACTC could have received their 2016 tax refunds. This is several weeks later than in past years.
A high-powered group of Republicans and business executives proposed replacing regulations for reducing greenhouse gases with a carbon tax. The two most interesting things about this initiative are who proposed it and what they’d do with the money.
Marriage gives most couples a tax cut but it can also boost a couple’s tax bill, sometimes by a lot.
On one hand, there are curbs that could not be ignored even if the US Congress changed the tax law. On the other, many clergy already engage in some campaigning. And for the most part, the IRS looks the other way.
Tax writers will have to resolve scores of legal and economic problems before enacting GOP's tax plan. Addressing any one will be a complex and time-consuming. Dealing with them all could be a policy nightmare.
President Trump and Congress are likely to consider an historically broad range of tax and spending changes over the next year. But they’ll be doing so in the face of unprecedented long-term fiscal challenges, according to new estimates.
More than ever, it looks like Congress will settle for a big tax cut and abandon reform.
The President wants US companies to stay put, and he vows to remember the “forgotten people,” or working class Americans. Some of those Americans are corporate shareholders. Are there ways to reform the US corporate tax system that benefits them?
President Trump's ideas for making Mexico pay for the wall are not going to work. He needs another strategy.
Two-thirds of states enter the year with deficits; 32 spent less in real terms in 2016 than in 2008. Now states must also shift their attention to the gathering fiscal storm clouds in Washington.
In Washington-speak, there's a debate about the merits of border adjusted taxes and a border tax. To any normal human, these sound like the same thing. But trust me, they are not.