federal taxes Archive

Congress Struggles to Make a Deal, Child Tax Credit Hopes Fade

TweetShareSharePin0 Shares Despite early optimism during the ongoing lame-duck session, Congressional lawmakers are struggling to make a deal that would extend the expanded child tax credit. Credit: Siri Stafford/Getty Images Last month, several Senators seemed confident that the GOP would cut a deal with Democrats to revive the expanded child tax credit (CTC), which was part of

Neurosurgeon Sentenced to Federal Prison Following IRS Investigation

TweetShareSharePin0 Shares A California neurosurgeon has been sentenced to 60 months in federal prison following an investigation by the IRS Criminal Investigation division and other agencies. Credit: Pramote Polyamate/Getty Images San Diego resident Lokesh S. Tantuwaya accepted approximately $3.3 million in bribes while working at a now-defunct Long Beach hospital whose owner has also been imprisoned for

Measuring Success At The IRS

TweetShareSharePin0 Shares How do we know if the IRS is spending its new $80 billion wisely? Hint: It won’t be easy. TPC’s Janet Holtzblatt concludes that some of the easiest-to-measure metrics, such as the number of audits or answered phone calls, or changes in the size of the tax gap, might not be the best

Family Security Act 2.0 Child Allowance Would Help Families with Kids, with Drawbacks for Single Parents

TweetShareSharePin0 Shares The Family Security Act 2.0 (FSA 2.0) framework introduced this past June by Senators Mitt Romney (R-UT), Steve Daines (R-MT), and Richard Burr (R-NC) emerged as negotiations over extending the 2021 expanded child tax credit stalled. While FSA 2.0 would leave many families better off, others – particularly single parents – could actually

How Will Congress Assess The Success Of Its $80 Billion Investment In The IRS?

TweetShareSharePin0 Shares How will we know whether the Inflation Reduction Act’s $80 billion ten-year investment in the Internal Revenue Service is successful? Unfortunately, measuring performance isn’t easy, and Congress has left it to the Executive Branch to define success. At a recent Tax Policy Center event, three former IRS commissioners and three top officials from

Chile Tax Reform Heads in the Wrong Direction

TweetShareSharePin0 Shares The Tax Foundation recently released the 2022 International Tax Competitiveness Index (ITCI), measuring the complexity and neutrality of countries’ tax systems. Over the years, Chile has consistently remained in the lower half of the Index’s rankings, and in the 2022 version of the Index, Chile fell from 26th to 27th (out of 38

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