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45ae59f6be38e421749b1804ad67ec3f Archive

Unemployment, Retirement, and Reporting | Tax Policy Center

TweetShareSharePin0 Shares Tune in today at noon for the TPC Prescription: Talking unemployment benefit reform with Michele Evermore. The deputy director for policy at the US Department of Labor Office of Unemployment Insurance Modernization will talk with TPC’s Howard Gleckman about efforts to streamline and improve unemployment insurance systems. Register and tune in here.  Yellen

The TCJA Increased Foreign Investment In The US

TweetShareSharePin0 Shares The TCJA encouraged foreign-owned corporations to retain more US earnings. A new TPC study shows that corporate tax cuts in the Tax Cuts and Jobs Act (TCJA) encouraged foreign-owned US companies to reinvest more of their earnings here. Researchers also found a positive relationship between the TCJA tax cuts and foreign-owned companies’ investment

A Holdout, A Dependency, And An Agreement

TweetShareSharePin0 Shares Poland is not yet on board with a global minimum corporate tax. Treasury Secretary Janet Yellen told reporters yesterday that there has been no breakthrough in talks with Poland, the lone holdout in the European Union’s plan to implement a 15 percent global corporate minimum tax. However, she said “good, frank discussions” are

Death, Taxes, Fairness, And A Ponzi Scheme

TweetShareSharePin0 Shares What about taxing capital gains at a higher rate at death than during life? TPC’s Steve Rosenthal and Robert McClelland argue that President Joe Biden‘s and Senate Finance Committee Chair Ron Wyden‘s proposals to tax unrealized capital gains every year raise serious administrative and legal problems. They recommend a simpler, more effective approach:

Ukraine Aid Awaits, Last Call For The Expanded CTC

TweetShareSharePin0 Shares $40 billion in Ukraine aid awaits Senate action. The House voted overwhelmingly to give President Biden $7 billion more than he requested for military, economic, and humanitarian assistance. But it is not clear how soon the Senate will act. It must first await what will be a nasty debate over abortion. And Sen.

Another Benefit Of CTC Payments; More IRS Woes

TweetShareSharePin0 Shares Expanded CTC payments helped reduce food insecurity. TPC researchers used data from the Urban Institute’s Well-Being and Basic Needs Survey to compare adults who received expanded Child Tax Credit payments from July through December 2021 with those who did not. They found food insecurity declined more among those who received the payments.   

Automated Filing, Tax Relief, And Sanctions

TweetShareSharePin0 Shares Study: IRS could prepare up to 48 percent of all tax returns. A new National Bureau of Economic Research paper finds the IRS could accurately pre-populate between 41 to 48 percent of individual income tax returns, between 62 and 73 million returns, using current-year information returns and the prior-year 1040. Researchers from Treasury,
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