Tax Policy Center News
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Property and casualty insurers are voicing concerns that longstanding tax exemptions for municipal bonds could be disrupted as part of a broader U.S. tax-code changes being considered by Congress.
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February 13, 2013 - Just in time for Valentine’s Day, those romantics at the Tax Policy Center have issued a handy tax calculator for determining whether saying ‘I do” will cost you at tax time. Sometimes it pays to be single but not always. According to the tax center, ”couples in which spouses have similar incomes are most likely to incur marriage penalties, and couples in which one spouse earns all of the couple’s income never incur a marriage penalty and almost always receive a marriage bonus.”
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Calling themselves “Max and Dave,” the top two tax writers in Congress are starting a public- relations campaign for a simpler U.S. tax code.
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The top Republican tax writer in Congress pledged a “careful, thoughtful review” of tax breaks for homeowners, including the mortgage interest deduction.
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U.S. lawmakers are weighing how far they can go in altering one of the most politically sensitive provisions in the tax code: the deduction for home mortgage interest.
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The top 1 percent of U.S. taxpayers would pay 67 percent of the higher taxes called for in 2023 under President Barack Obama’s budget proposal, according to an analysis released today by the nonpartisan Tax Policy Center in Washington.
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President Barack Obama and first lady Michelle Obama earned $608,611 in adjusted gross income in 2012, down 23 percent from 2011 as royalties from the president’s books kept declining, tax returns showed.
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I can describe Mitt Romney’s tax policy promises in two words: mathematically impossible.
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When Republicans and Democrats describe each other’s budgets, a person could be forgiven for thinking the plans are as far apart as possible.
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Investors can deduct $3,000 in capital losses against ordinary income, a benefit that cushions the sting of a failed investment. It’s a tax break frozen in time, stuck at the same nominal dollar amount since 1977.
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