The congressional budget process is meant to last from early February to the end of June, but recent years have seen delays at each stage, particularly in passing congressional budget resolutions and ...

The Tax Cuts and Jobs Act made significant changes to individual income taxes and the estate tax. Almost all these provisions expire after 2025. The Tax Cuts and Jobs Act (TCJA) made substantial ...

The Tax Cuts and Jobs Act cut taxes substantially from 2018 through 2025. The resulting deficits are adding $1 to $2 trillion to the federal debt, according to official estimates from before and ...

Total US tax revenue equaled 27 percent of gross domestic product, well below the 34 percent weighted average for the other 37 OECD countries. US taxes are low relative to those in other high-income ...

How do Opportunity Zones Work? The 2017 Tax Cuts and Jobs Act created the Opportunity Zones program—meant to spur investment in undercapitalized communities. The program provided three tax benefits ...

The federal estate tax applies to the transfer of property at death. The gift tax applies to transfers made while a person is living. The generation-skipping transfer tax is an additional tax on a ...

The fiscal response to the COVID-19 pandemic included a total of about $5.6 trillion in federal tax cuts and spending hikes. Those policies helped increase the federal debt from 79 percent of GDP in ...

At current tax rates, the direct revenue loss from cutting tax rates almost always exceeds the indirect gain from increased activity or reduced tax avoidance. Cutting tax rates can, however, partly ...

The Internal Revenue Service (IRS) and the Urban-Brookings Tax Policy Center invite you to attend the only annual conference focused on tax administration research. Researchers from the IRS, other ...

Nonprofit organizations that do not distribute profits can be exempt from federal income tax if organized expressly for public purposes. Tax-exempt organizations (including charities) include many ...

The Tax Cuts and Jobs Act (2017) nearly doubled the standard deduction and eliminated or restricted many itemized deductions in 2018 through 2025. It also eliminated the “Pease” limitation on itemized ...

A revenue-neutral national retail sales tax would be more regressive than the income tax it replaces. A national retail sales tax would create a wedge between the prices consumers pay and the amount ...