Tax expenditures are revenue losses that occur when federal tax law provisions reduce what individuals or businesses owe in taxes. They support certain activities, or they assist specific groups of ...

Balanced budget requirements (BBRs) are constitutional or statutory rules that generally prohibit states from spending more than they collect in revenue in a fiscal year. However, these state rules ...

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 ...

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Explore comprehensive insights on tax policies, including their complexities, treatments, and impacts, in this detailed briefing book by the Tax Policy Center.

TPC's blog, TaxVox, hosts our latest analysis and commentary to help you stay informed on the latest issues in the states and on Capitol Hill. Learn more ...

Although prohibited under federal law, 21 states allow and levy some type of excise tax on recreational cannabis purchases. But different states use different taxes—percentage-of-price taxes, ...

Imputed Rent Buying a home is an investment, part of the returns being the opportunity to live in the home rent free. Unlike returns from other investments, the return on homeownership—what economists ...

Most low-income households do not pay federal income taxes, typically because they owe no tax (as their income is lower than the standard deduction) or because tax credits offset the tax they would ...

A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US ...

Although the US tax code does not explicitly reference race or ethnicity, the federal income tax system contributes to racial disparities when factors that affect tax liabilities are correlated with ...

For children to thrive, they need to have their basic needs met. When needs go unmet, children’s opportunities are compromised. The Census Bureau estimates that 12.4 percent of children were living ...