The second session of Tax Foundation University 2022 will cover key parts of the individual tax code, explaining why it contains elements of income and consumption taxes and how it applies to a growing share of businesses, colloquially known as “pass-throughs.” 

Our experts will discuss the temporary expansion of work and child-related provisions and its impact on growth. Finally, you will learn about ideas proposed as part of the Build Back Better agenda, including a high-income surcharge, mark-to-market tax, and pass-through business tax increases.

The first of our three Tax Foundation University 2022 sessions will explain key parts of the corporate and international tax code, the current tax landscape, implications of scheduled and potential changes, and the latest research on who bears the burden of corporate income taxes.

We will discuss key concepts proposed as part of the Build Back Better agenda, such as profit shifting, differences between taxable and book income, and the tax treatment of other types of financial income. To finish, we will offer a lay of the land for international tax provisions and how the OECD tax deal could play a significant role in U.S. tax policy.

President Biden this week released his annual budget. In a letter to lawmakers, the 46th President said that this $5.8 trillion package would “[grow] our economy, while ensuring that the wealthiest Americans and the biggest corporations begin to pay their fair share.”

This week, Garrett Watson joins Jesse Solis to break down what the President is proposing for this upcoming fiscal year. Garrett discusses what the budget could actually means for the policy debate in D.C., as well as what its impact would be on the U.S. economy in the face of record-high inflation.

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Late last year, over 130 countries agreed to a global minimum tax, a purported end-all and be-all to the "race to the bottom."

But this policy is complex, and countries are already struggling to implement these new rules. Daniel Bunn, Vice President of Global Projects, joins Jesse to talk through how this policy came to be, identify where problems are beginning to arise, and dispel some common myths about this emerging new tax system.

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The cost of gas is going up. To address this, policymakers have proposed suspending the gas tax as a way to give taxpayers immediate relief at the pump.

Alex Muresianu, a federal policy analyst at the Tax Foundation, argues that a gas tax holiday could actually make matters worse; that instead of lowering prices and easing inflation, it could have the opposite effect.

He joins Jesse Solis on this week's episode of The Deduction to discuss why suspending the gas tax would be a mistake and what lawmakers could do to help with the rising costs of gas.

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Inflation has made an unwelcome comeback, with consumer prices rising at rates not seen since 1982. Where did this inflation come from and what might its impacts be? What does inflation have to do with tax and fiscal policy and how could each be used to mitigate its negative effects?

The Tax Foundation recently hosted a panel discussion with experts from the Committee for a Responsible Federal Budget and The Hoover Institution to discuss these questions and more, including the impact of enacted and proposed federal legislation on inflation, debt, and tax policy and how all three interact.

The expanded Child Tax Credit from the American Rescue Plan was touted as a once-in-a-lifetime achievement toward reducing child poverty. But it was passed as a temporary tax measure. Temporary tax policy makes tax filing confusing, and the IRS has shown that it isn’t able to keep pace with being a social administrator and a tax collector.

Senior economist Erica York joins Jesse Solis to discuss what taxpayers need to know about the ever-changing Child Tax Credit and how it may impact taxpayers’ this spring as they continue to file their taxes.

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After a whirlwind of cuts and reforms in 2021, it looks like 2022 might be an even bigger year for state tax codes. Republican and Democratic governors alike used their annual State of the State addresses to call for tax reform, and there is already serious momentum from state lawmakers nationwide to get the job done.

Jared Walczak, Vice President of State Projects, joins host Jesse Solis to discuss why exactly states are looking to make so many tax changes now and how these proposals might play out in statehouses.

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Change is here: The pandemic sparked a move toward a more mobile economy for workers and businesses across the country. Where you live no longer has to dictate where you work—and that mobile economy is here to stay.  

States are unprepared: Our economy is changing, but state tax codes have failed to keep up. In some states, moreover, existing tax provisions exacerbate the impact of high inflation and contribute to the supply chain crisis. 

A road map forward: On our latest Talking Tax webinar, our state experts overviewed the landscape and explained how states can remove impediments to new living and working arrangements, enhance their attractiveness for increasingly mobile employers and employees, and respond to greater economic uncertainty and rising inflation.

The 2022 tax filing season is about to begin. But before the first returns have even been processed, the IRS is warning Americans to prepare for the worst.

With expected delays, pandemic-related troubles, and a backlog of over 8 million unprocessed returns from the 2021 tax filing season, Garrett Watson joins Jesse Solis to discuss what all these troubles will mean for taxpayers in what is shaping up to be a chaotic spring.

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