As Tax Day 2018 approaches, it is worth exploring a pressing question that is widely misunderstood: do undocumented immigrants pay federal taxes?
BPC’s proposal also explains the federal budgetary cost of each recommendation and provides a menu of policy options Congress could enact to offset any new spending.
Many of the problems that taxpayers encounter in dealing with the IRS are the result of its inadequate resources and accompanying cost-saving efforts.
One of the challenges that defined contribution plan participants face is how to turn their savings into income that will last through the end of their lives.
Both the long-term fiscal health of our country and the short-term functioning of our government depend on clear tax policy emanating from Congress.
The research and experimentation (R&E) tax credit – alternatively referred to as the R&D tax credit, the research tax credit, or the credit for increasing research activities – is a tax provision designed to incentivize innovation by making research activities cheaper for businesses. The R&E credit is one of the “tax extenders,” a set of federal tax provisions that expired on December 31, 2013, but have routinely been renewed in the past.
The Earned Income Tax Credit (EITC) is a federal tax provision that supplies a valuable benefit to low-income, working Americans. The credit is held in high esteem by Republicans and Democrats alike because it incentivizes work by subsidizing take-home pay for low-income workers. The EITC’s generosity has been increased under presidents from both parties.
A quarter century ago, America had a brand new income tax system and an emerging position as the world’s lone superpower. Whites dominated a political debate conducted on television, and baby boomers had just become 40-somethings. A quarter-century from now,…