Taxing Times on the Hill and on Returns

Do small businesses have a tax problem? The House Small Business Committee holds a hearing this afternoon on the biggest tax problems faced by small firms. TPC’s Donald Marron and American University’s David Kautter will testify. They’ll be joined by Tim Reynolds of the National Small Business Association, and Rick Endres of The ASCII group, […]

If You Have High Income, Your Taxes Are Going Up

As the April 15 deadline for filing 2013 income taxes nears, most of us are finding that Uncle Sam will take about the same share of our income as last year. But the story is very different for people at the top of the income ladder. Their taxes are going up, in many cases by […]

Ethics and Fairness, Growth and the Environment, Retirement and Tax Shelters

Just in time for Tax Day—are you being served? The Senate Finance Committee holds a hearing today on how best to protect taxpayers from incompetent and unethical return preparers. IRS Commissioner John Koskinen and National Taxpayer Advocate Nina Olson will appear. The Joint Committee on Taxation’s backgrounder on the issue is here. Would a fairer […]

Out of Committee, Across the Globe, and Due West

Extenders move out of Committee. The Senate Finance Committee sent to the full Senate a measure to temporarily renew over 50 tax breaks that lapsed at the end of 2013. Chairman Ron Wyden tried to eliminate about a dozen, but the committee put nearly all of them back. A House Ways & Means hearing tomorrow […]

Two Ways to Fix the Corporate Income Tax: Internationalize it or Kill It

In an important new paper, Eric Toder of the Tax Policy Center and Alan Viard of the American Enterprise Institute say that corporate tax reforms now being debated in Congress fall far short of solving the widespread problems with the levy. Rather than merely lowering rates and tinkering with tax rules for U.S.- based multi-national […]

Settlement, Disappointment, and Equality

One last reminder: You can tune in to a live webcast this morning at 9:00 am for “Major Surgery Needed:  A call for structural reform of the US corporate income tax.” The event is cosponsored by the American Enterprise Institute and the Tax Policy Center. Extending the Extender Talks. The Senate Finance Committee yesterday approved […]

Why Most Tax Extenders Should Not Be Permanent

What to do about the tax extenders—or, as my colleague Donald Marron calls them, the “tax expirers”? Restoring the current crop (most of which expired on December 31) for 10 years would add about $900 billion to the deficit. House Ways & Means Committee Chair Dave Camp (R-MI) and Senate Finance Committee Chair Ron Wyden […]

Expirations, Compliance and Corporations

EXPIRE Act mark-up today, more on extenders next week.The Senate Finance Committee will begin its mark-up of chair Ron Wyden’s  plan for restoring  dozens of tax breaks that expired last December. He proposed killing only a handful and supporters are already gearing up to save them. On April 8, House Ways & Means chair Dave Camp […]

Must Everything Old Be New Again?

Wyden’s extenders bill is set for a vote tomorrow. Senate Finance Committee Chair Ron Wyden  and senior Republican  Orrin Hatch introduced the EXPIRE Act (“Expiring Provisions Improvement Reform and Efficiency Act”) yesterday. The committee will consider it on Thursday. The measure would kill a few of the expired tax subsidies but restore most through 2015. […]

House Republicans Punt on Tax Reform

The House Republican budget, released today by Budget Committee Chair Paul Ryan (R-WI), kicks the tax reform can down the road yet again. Not only does it fail to enhance chances for a tax code rewrite, it almost certainly sets the effort back. This budget isn’t so much an actual fiscal plan (the framework for […]