“The IRS Finally Cracked the Code on Making Tax Season Suck Less

The Inflation Reduction Act created a pilot program that’s finally given Americans a free and easy way to file their federal taxes with the government, and it’s getting rave reviews.”

newrepublic.com/article/180448…

In the Business Standard (Business Standard) today, snippets from the discussion yesterday on India's path to greater economic prosperity. Grateful for the opportunity.
business-standard.com/amp/specials/b…

Direct File has been a labor of love for awhile. This is a great write up - and yes, against all odds, we created a an “actually good piece of technology”

I wrote about Direct File—a new site that is the government's answer to TurboTax. It's way better than you might think. theatlantic.com/technology/arc…

One anecdotal account: I just got an email from a Washington Post reader in Massachusetts who paid for TurboTax for years. She filed using the Direct File site today instead. 'I can safely say that the process of filing my taxes this year was the smoothest it's ever been for me.'

🚨🚨🚨New Paper Alert: 𝘉𝘦𝘺𝘰𝘯𝘥 𝘛𝘳𝘢𝘯𝘴𝘴𝘶𝘣𝘴𝘵𝘢𝘯𝘵𝘪𝘷𝘪𝘵𝘺

This Article uses a massive collection of data to document, for the first time, the interplay between the substantive subject areas, the intensity, and the procedural complexity of federal civil litigation.

The House overwhelmingly (w/169 Rs!) passed the Child Tax Credit/corporate tax bill. Instead of fast-tracking it, some in the Senate are trying to extract a pound of flesh– eliminating the “lookback” provision

Bipartisan proponents of the bill should welcome this debate

Thread

As we see, on the corporate side, the tax code recognizes that business earnings fluctuate from year to year and considers circumstances in prior years to smooth income and tax benefits.

Over the past 2+ years I've engaged in debate over how various CTC policies would impact poverty & employment. Much comes down to labor supply elasticities (e) on which there's big disagreement

In new work (link below) I use agreed-upon methodology from CTC debate to calculate e

The bipartisan CTC plan includes a new lookback rule, allowing taxpayers to calculate their CTC using the previous year’s income if their earnings declined this year. What would this mean for families? (1/)

.George Callas: The new expansion of the child tax credit won’t disincentivize work thehill.com/opinion/financ…

I want to highlight one additional benefit of the tax law beyond what was described in the excellent piece by Tara E W twitter.com/taraelizwatson…

TL;DR Lower income volatility for kids helps the economy grow in the long-run. 1/

I find these hypothetical examples illuminating because it tells you a lot about the assumptions built into estimates.

I don't know any single parents with two kids in Lowell working at a $40K/year job that would even *imagine* quitting every other year just to game the system.

💯

It's fair for Senator Marco Rubio to ask if the look-back provision could reduce work incentives. But I believe the answer is it won't.

People aren't likely to work one year on, one year off to game the system. Under the plan, they can't stay idle long-term and still get the credit.