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Document Type: Article/Tax Facts

1-10 of 175     Back to Types Next>>


Payroll Taxes for U.S. Retirement, Health, and Disability Programs (Article/Tax Facts)
Caleb QuakenbushC. Eugene Steuerle

Payroll taxes are used to finance major social welfare programs for the elderly and disabled in the United States. Most working households pay more in payroll taxes than in income taxes each year and can contribute hundreds of thousands of dollars toward these programs over a career.

Published: 06/25/15
Availability:   PDF


Most People Receive Refunds at Tax Time (Article/Tax Facts)
Elaine MaagElena Ramirez

Taxpayers routinely have too much income tax withheld. Of the 126 million tax returns the IRS processed through April 17, 2015, almost three-quarters resulted in a refund. The average refund was $2,711 with higher average refunds going to the earliest filers.

Published: 06/09/15
Availability:   PDF


Expiring Provisions With Perpetual Life (Article/Tax Facts)
Lydia AustinEric Toder

Many of the most expensive “temporary” tax extenders have been extended numerous times in the past.

Published: 05/21/15
Availability:   PDF


Composition of Income Reported on Tax Returns in 2012 (Article/Tax Facts)
Lydia AustinRoberton Williams

As income increases, the composition of income changes substantially. For most taxpayers, salaries and wages contribute the most. But higher-earners typically report income from capital gains and businesses.

Published: 03/02/15
Availability:   PDF


Changes in Income Reported on Federal Tax Returns (Article/Tax Facts)
Roberton WilliamsLydia Austin

The composition of reported income has changed markedly since 1952. Investment income has continued to grow, along with business income, interrupted only by periodic economic downturns. Meanwhile, salaries and wages have declined as a share of income.

Published: 01/07/15
Availability:   PDF


Angel Investor Tax Credits (Article/Tax Facts)
Norton Francis

High net worth investors can reduce the cost of an investment in 29 states by claiming an "angel investor" tax credit. In most states, the credit is worth more than 25 percent of the investments and can be transferred to another taxpayer if it exceeds the investor's liability. States hope the credit will develop high tech clusters and generate economic activity.

Published: 11/25/14
Availability:   PDF


Flow-Through Business Income as a Share of AGI (Article/Tax Facts)
Joseph Rosenberg

This Tax Fact documents the increasing share of flow-through business income as a percentage of adjusted gross income (AGI) reported on individual income tax returns. In 2012, net income from sole proprietorships, partnerships, and S corporations totaled nearly $840 billion and accounted for more than 9 percent of total AGI.

Published: 09/29/14
Availability:   PDF


Tax Expenditures for Asset Building in 2014 (Article/Tax Facts)
C. Eugene SteuerleCaleb Quakenbush

Government directs a large amount of resources toward helping families build assets in the form of home equity, retirement savings, human capital, and business ownership. This Tax Fact summarizes the cost of different asset-building tax subsidies. These tax expenditures total to more than $370 billion in 2014 and are projected to grow to more than $500 billion over the next 5 years. Deductions and exclusions for homeownership and retirement savings form the majority of subsidies, with education coming in a distant third. Smaller subsidies for small business and other personal savings round out the total.

Published: 08/20/14
Availability:   PDF


Implications for Changing the Child Tax Credit Refundability Threshold (Article/Tax Facts)
Elaine MaagLydia Austin

This Tax Fact explores the child tax credit’s refundability thresholds since its inception. Currently, the CTC is a $1,000-per-child credit that is partially refundable for households earning more than $3,000. This Tax Fact explores the distribution of credits when the refundability threshold rises to $15,000 in 2018, and finds that families in the lowest income quintile would be affected the most.

Published: 07/24/14
Availability:   PDF


Changes in Tax Revenue Since 1929 (Article/Tax Facts)
Lydia AustinRoberton Williams

This Tax Fact examines sources of federal and state & local tax revenue, from 1929 to the present. The composition of revenues at all levels of government changed dramatically with World War II, but has remained roughly stable since. At the federal level, payroll taxes have grown dramatically, and individual income taxes remain a major source of revenue. At the state and local level, sales and property taxes account for about one-third of revenues.

Published: 06/16/14
Availability:   PDF

1-10 of 175     Back to Types Next>>