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.
Gleckman explains the tough politics of having, and reducing, a deficit.
The federal workforce has decreased 3 percent from last year, many cuts coming from the South and West.
Though the Earned Income Tax Credit has helped millions of Americans stay out of poverty, the take-up rate among taxpayers varies widely across the country, and even at a county-by-county level.
401(k) plans will be supplemented by President Obama's proposed retirement plan, called 'myRA.' Only about half of US workers have access to a 401(k) or similar retirement savings plan at work.
Senator Rubio's anti-poverty plan includes one creative piece: replacing the well-known and highly effective earned income tax credit (EITC) with a monthly “federal wage enhancement” for all individuals with qualifying low-wage jobs.
Think the movie business is profitable? Turns out it may be even more revenue from films than expected, especially when tax incentives for shooting locations is a factor, often at the cost of the state providing a subsidy.
Same-sex couples in Utah may not have their marriages officially recognized by the state, but they can file their 2013 returns together--at least for now.
While courts hash out the legality of Utah’s same-sex marriages, gay couples who married in Utah must file state income tax returns as individuals but federal returns as married.