irs

The Internal Revenue Service (IRS) changes more than 60 tax rules every year to account for inflation. This stops something called "bracket creep." People move into higher tax brackets or lose value from credits and benefits when inflation rises instead of their real income rising. This is called "bracket creep."

As the race for president in 2024 gets under way, candidates are starting to make plans for how they would handle taxes. Getting the government corporate tax rate down from 21% to 15% is a tax plan that both former President Donald Trump and former Vice President Mike Pence supported.

This week, we released our yearly State Business Tax Climate Index, which looks at how taxes are set up. Readers can compare state tax systems across more than 120 factors, making it a very useful diagnostic tool.

The State Business Tax Climate Index from the Tax Foundation lets business leaders, officials in government, and taxpayers see how their states' tax systems compare to others. There are many ways to show how much a state government gets in taxes, but the Index is meant to show how well states set up their tax systems and offer suggestions for how to make them better.

The Internal Revenue Service (IRS) has published a feasibility assessment on the viability of a government-run direct file program for taxpayers, ahead of the agency's anticipated launch of a Direct eFile pilot program in the approaching 2024 tax filing season.

Over the past 30 years, lawmakers have turned more and more to the Internal Revenue Service (IRS) instead of traditional government agencies to get social and economic benefits through the tax code. As a result, the IRS now manages 21 refundable and non-refundable tax credits for individuals, such as the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC), and about two dozen more tax breaks for corporations, such as the green energy tax credits made possible by the Inflation Reduction Act.

The federal tax code is still a major source of anger and debate among Americans and a barrier to economic growth and opportunity. Other countries, like Estonia, have shown that taxes can be collected in a less stressful and more effective way and still bring in enough money.

Political money is unsound money, and while civilization cannot exist without sound money, it can do without predatory government.

President Biden just proposed $4.7 trillion in tax increases on businesses and individuals, raising U.S. tax rates to some of the highest in the developed world.

IRS management has tended to view its role as chasing tax cheats, not helping people navigate the confusing tax code.