GOP Governors Flirt with Tax Hikes but Still Wedded to Income Tax Cuts

By :: February 25th, 2015

The New York Times recently reported Republican governors across the country were “bucking the party line” on taxes, citing eight GOP executives proposing tax hikes. Bloomberg also noted the trend of Republican governors and “much-regretted” tax increases earlier this week. However, the Wall Street Journal just heralded “The Tax-Cutting Boon Sweeping the States.” So is […]

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To Collect Money You Have to Have Money

By :: February 25th, 2015

High-income households can worry even less about being audited this year. Last year, the IRS audited just 7.5 percent of households earning more than $1 million in 2013. That’s the lowest share since 2009. Its overall individual audit rate was 0.86 percent, the lowest  since 2004. The IRS budget has been cut by $1.2 billion […]

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So Far, Affordable Care Act Users Are Managing Tax Filing, Many Uninsured May Use New Enrollment Period

By :: February 24th, 2015

So far, most people with Affordable Care Act insurance subsidies seem to be filing their taxes without huge problems, despite the complexity of the process. However, about half of those who have filed returns with tax prep firm H&R Block and who owe a penalty for not having insurance, have expressed interest in purchasing exchange coverage, […]

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Tax Filing, Reform, and Rate Hikes

By :: February 24th, 2015

There are better ways to tie Affordable Care Act enrollment to tax filing season. This morning from 8:30 to 10:00 am, the Tax Policy Center and the Brookings Institution sponsor a panel and webcast examining ways to use tax filing to encourage people to buy insurance. Consider the White House’s special enrollment period announced last week. […]

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Better Ways to Link the Affordable Care Act with Tax Filing Season

By :: February 23rd, 2015

The Obama Administration, finally acknowledging the seasonal mismatch between the Affordable Care Act’s open enrollment season and the ACA’s tax-based penalties for failing to have insurance, decided on Friday to create a new special enrollment season for this year only.  The new window will allow those who are subject to the penalty for 2014 ($95 […]

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Tax Subsidies, Cuts, and Consequences

By :: February 23rd, 2015

There are tax information troubles for ACA enrollees. When it comes to the Affordable Care Act and filing taxes, “sorting through all the necessary paperwork is hard to do, even for those of us whose day jobs are in tax policy,” writes TPC’s Ellen Steele, a tax-preparing volunteer with Community Tax Aid. Making things more […]

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Dynamic Scoring Forum:  Dynamic Scoring Won’t Be Perfect But it is Worth Doing

By :: February 20th, 2015

This is one of a series of guest TaxVox blog posts discussing dynamic scoring. It is obvious that changes in spending and tax policies affect macroeconomic variables, such as the Gross Domestic Product. The problem is in knowing how much. Different economic models yield very different answers and even within one model, a single revised […]

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The Affordable Care Act Tax Filing Season: A View From the Trenches

By :: February 20th, 2015

Several of us at the Tax Policy Center volunteer with Community Tax Aid to help low-income people file their taxes. We’ve had a chance to see, first-hand, how the Affordable Care Act is affecting tax filing. This is the first filing season when taxpayers must navigate the new provisions of the ACA on their 1040s. The […]

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Tax Vox Will Host an Online Policy Forum on Dynamic Scoring

By :: February 19th, 2015

The House vote to require the Congressional Budget Office and the congressional Joint Committee on Taxation to include macroeconomic effects in some official budget scores is enormously controversial in the policy world and among economists. To help unpack this complex issue, Tax Vox has asked several budget and tax experts to present their views on this process, known as dynamic […]

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State Revenue Growth Will Remain Sluggish

By :: February 16th, 2015

State forecasters expect revenue growth to remain sluggish through fiscal year (FY) 2016 according to an Urban Institute analysis of agency reports. In FY17, states project revenue growth will return to its average post-2000 rate but remain significantly below its long term average. These state estimates are not adjusted for inflation. Using CBO’s forecast of […]

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