Monday, Might 23, 2022
GAO: Lack Of Knowledge Limits Analysis On Tax Fairness
The U.S. has a big and growing hole in revenue and wealth by race, ethnicity, and intercourse. Nevertheless, little is understood in regards to the results of tax insurance policies throughout demographic traits. The tax code doesn’t tax people differentially based mostly on sure demographics. Nevertheless, some researchers have famous the way it may lead to potential unintended disparate tax outcomes.
The CARES Act features a provision for GAO to report on its ongoing COVID-19 monitoring and oversight efforts. GAO was additionally requested to evaluation how chosen tax insurance policies affected households by race, ethnicity, and intercourse as a part of this oversight.
This report (1) examines approaches for analyzing the impact of tax insurance policies, together with some within the CARES Act and associated laws, on households by race, ethnicity, and intercourse, and (2) estimates how households use chosen tax provisions by race, ethnicity, and intercourse.
https://taxprof.typepad.com/taxprof_blog/2022/05/gao-lack-of-data-limits-research-on-tax-equity.html
