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

Although prohibited under federal law, 21 states allow and levy some type of excise tax on recreational cannabis purchases. But different states use different taxes—percentage-of-price taxes, ...

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 ...

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 ...

People who filed tax returns for either 2007 or 2008 qualified for “recovery rebates.” In total, the rebates lowered the average filer’s federal tax burdens by about 5 percent in 2008 (reducing the ...

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 ...

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 ...

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 ...

The declining values of office buildings across the country in the aftermath of the COVID-19 pandemic could significantly change how major cities and other localities raise revenue and provide public ...

Back to American Rescue Plan Act of 2021: Final Version as Passed by the Senate and House (March 2021) Model Estimate T21-0041 – All Major Provisions in H.R.1319, The American Rescue Plan Act of 2021, ...

This paper summarizes major individual and corporate tax provisions of the 2017 Tax Cuts and Jobs Act (TCJA), traces its origins, and compares its changes to previous tax changes. We examine its ...