Explore comprehensive insights on tax policies, including their complexities, treatments, and impacts, in this detailed briefing book by the Tax Policy Center.

Most low-income households do not pay federal income taxes, typically because they owe no tax (as their income is lower than the standard deduction) or because tax credits offset the tax they would ...

Federal, state, and local government officials are increasingly paying attention to reforms of fines and fees. These constitute a small share of total revenues, but they can be particularly harmful ...

Although the US tax code does not explicitly reference race or ethnicity, the federal income tax system contributes to racial disparities when factors that affect tax liabilities are correlated with ...

The 2008 and 2009 tax acts provided large temporary tax cuts to most households, with the goal of helping the economy recover from the Great Recession. The 2010 tax act extended specific provisions of ...

A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US ...

Each year, the Internal Revenue Services receives over 3 billion information returns, such as W-2s and 1099-INTs, from employers, banks, and other entities. The IRS also collects some data about ...

Although it is generally blind with respect to race, the tax code can create racial disparities when factors that affect tax liability are correlated with race. In this working paper, we provide new ...

Table shows the effect on the distribution of federal taxes, by expanded cash income percentile, relative to current law in 2021 of all major tax provisions in the final version of H.R. 1319, The ...

Testimony Understanding How the Expanded Child Tax Credit Reduced Poverty and Hardship in 2021 Statement Before the Subcommittee on Work and Welfare, Ways and Means Committee, United States House of ...

Several provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) affecting individual income taxes are set to expire after 2025. Key among these expiring provisions are changes to the child tax credit ...

States rely heavily on gas taxes to pay for transportation construction and maintenance costs. In 2021, state motor fuel taxes generated about $50 billion in revenue. State and local motor fuel tax ...