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Tax Topics

Tax Topics

2009 Tax Stimulus
2012 Election Tax Plans
2015 Budget
Alternative Minimum Tax (AMT)
American Jobs Act of 2011
Brief Description of the Model 2013
Camp Tax Reform Plan
Current-Law Distribution of Taxes
Deficit Reduction Proposals
Distribution of the 2001 - 2008 Tax Cuts
Earned Income Tax Credit
Economic Stimulus
Education Tax Incentives
Estate and Gift Taxes
Expiration of the Bush Tax Cuts
Explanation of Income Measures 2013
Federal Budget
Fiscal Cliff
Fiscal Crisis
Flow-Through-Enterprises
Guide to TPC Tables
Health Insurance Tax Incentives
Homeownership
How to Interpret Distribution Tables 2013
Marriage Penalties
Model FAQ 2013
Model Related Resources and FAQs
Payroll Taxes
Presidential Transition - 2009
Recent Tax Stimulus Legislation
Retirement Saving
Tax Encyclopedia Index
Tax Expenditures
Tax Reform Proposals
Value-Added Tax (VAT)
Who Doesn't Pay Federal Taxes?
Working Families

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tax topics
 
Income taxes will rise.

Which income tax provisions will change?

  • The 10 percent tax bracket will disappear and the 25 percent, 28, percent, 33 percent, and 35 percent rates will revert to 28 percent, 31 percent, 36 percent, and 39.6 percent respectively.
  • The phaseout of personal exemptions and limit on itemized deductions will return for high-income taxpayers.
  • The standard deduction and the width of the 15 percent tax bracket for married couples filing jointly will both shrink from twice that for single filers to 1.67 times as large.
  • Dividends will be taxed at regular tax rates rather than at the lower long-term capital gains rates.
  • Long-term capital gains tax rates will increase from 0 percent to 10 percent for taxpayers in the 15 percent bracket and below and from 15 percent to 20 percent for filers in higher tax brackets.
  • The child credit will be halved to $500 and become largely non-refundable.
  • The child and dependent care credit and the earned income credit will be pared back.

How will the income tax changes affect revenues?

Revenue Estimates for Extending Some or All of the 2001 and 2003 Tax Cuts

What would the distributional effects be?

2011 Distributional Tables for Expiration of 2001-2003 tax cuts

 

Tax brackets, standard deduction, and personal exemptions under alternative policies
Separate Rate Tables for Each Policy
Comparison of Rates for Three Policies