As the Senate's finance committee chairman, Ron Wyden, is expected to introduce a bill that would reinstate expired tax breaks, Illinois and Pennsylvania are raising some local taxes of their own.
Check out the latest economics news from TaxVox, including tax cuts in Wisconsin and Minnesota, the IRS' decision to treat Bitcoin as property and not currency, plus the agency's handling of the tax-exempt status of some political groups.
A city panel is working on ways to revise the revenue system in the nation's capital, including proposed changes that supporters say will reduce taxes for 95 percent of residents.
Apple’s success at avoiding corporate income taxes by shifting reported profits to other countries has frustrated US lawmakers for years. Now, Australia is saying that Apple is underpaying taxes in that country as well. Where should Apple report its income?
The 1,000-page bill puts his plan out there in all its gory detail. And it makes it possible for analysts here at the Tax Policy Center and elsewhere to chew over details, identify strengths and weaknesses, and suggest improvements.
No one seems to like to bring up arguments in favor of taxes -- except perhaps policy makers -- but the Tax Policy Center notes there are ways of making taxes simpler to implement and fairer to those who pay them.
The House Judiciary Committee is taking a closer look at the thorny issue of an internet sales tax today, while Treasury Secretary Jack Lew is set to testify before the Senate Budget Committee about revenue proposals in President Barack Obama's fiscal 2015 budget.
The deadline to sign up for Obama care is looming, and those who don't have insurance coverage by March 31 will be hit with a tax penalty. A new calculator from the tax policy center will help you determine just how much opting out will cost.
House Ways and Means Chair Dave Camp’s recent tax reform plan would raise the cost of doing business for many state and local governments, but Camp’s plan also includes some less obvious changes that could increase state income tax revenues.
In about one in ten counties, 11 percent or fewer taxpayers itemize while in another 10 percent at least 38 percent of taxpayers claim deductions.
As the economy slowly improves, it's easy to forget the fiscal calamities that almost befell the nation. But ignoring our long-term financial issues will only create new problems down the road.
Americans with existing healthcare plans will be able to keep those programs for another two years, the Obama administration says, while those without care face a penalty. And maybe a little good news: The average 2013 tax refund was 3 percent higher than the previous year.
In today's Daily Deduction, Tax VOX reports that President Obama's fiscal 2015 budget will include about $1 trillion in new taxes as several states look to make tax changes of their own.
Between President Barack Obama's budget proposal Tuesday, Rep. Paul Ryan's anti-poverty program takedown Monday, and Dave Camp's tax reform proposal last week, partisan fiscal talks are buzzing in Washington. But they may not be as different as you think.
Tax Vox' Len Burman takes a closer look at the taxation plan proposed by US Rep. Dave Camp (R-MI). While it seems simple on the surface, Burman writes that Camp's plan introduces new hidden tax rates and other issues.
The House will release a tax plan on Wednesday that would cut the top individual tax rate to 25 percent. Read on for the GOP's tax proposal and and teh rest of today's tax news.
A healthy marriage might be swell most of the year, but from a financial perspective, it might make more sense to stay single at tax time. Tax Vox rolled out a new calculator to help decide whether couples should file taxes jointly or as individuals.
Having problems understanding the Affordable Care Act? According to new research, you may be able to take care of your insurance - and taxes - in one sitting.
Calling the tax code a "dysfunctional rotting carcass", Sen. Ron Wyden (D-OR) has framed his tax agenda around issues like narrowing the gap between investment income and ordinary income tax, and increasing the standard deduction
The American Earned Income Tax Credit can reduce poverty rates among families with children. Expanding that benefit -- with some changes-- could help qualifying adults without children of their own, as well.