• Write-Off: The Tax Blog

    What Should the Capital Gains Tax Rate Be?

    Max was on a quest. He sought wisdom from The Tax Guru to find the answer to one of life’s pressing questions: what is the best capital gains tax rate. He quested day and night for years, searching the world for the guru who could give him the answer. Finally, as he neared the summit where legend stated the guru lived, he saw the guru’s yurt. Max approached the yurt’s door and knocked. The door opened. Max peered in and saw The Tax Guru sitting at a desk, green eye shades on, meditating over the tax code. The guru stated, in a sure and clear voice: “Enter, my child. What do you have to ask The Tax Guru?” Max, humbled, fell to his knees, and said, “Tax guru. Tell me—what is the best capital gains tax rate? Some say it should be the same as the ordinary income tax rate. Others that it should be zero, at least in theory. Some want it higher, others want it lower. What rate is best?” The guru replied, “It depends.”
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January 31, 2021

What do we know about CbC Reporting?

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Recent News & Media

Distinguished Contributions to Accounting Literature Award

July 30, 2020

UNC Tax Center Tax Director, Edward L. Maydew, and Academic Fellows, Scott D. Dyreng and Michelle Hanlon, to receive the American Accounting Association 2020 Distinguished Contributions to Accounting Literature Award. More

Coming Up

Tax Policy & Planning: How States Propose to Bridge COVID-19 Revenue Shortfall

Tuesday December 8, 2020

A July 2020 analysis conducted by the Urban Institute estimated states would lose $200 billion in tax revenue through the June 2021 fiscal period due to COVID-19. How states manage this shortfall will impact individuals and businesses. In partnership with the AICPA, our expert panel will share the latest revenue projections and provide insight into actions states are and will be taking to increase revenue. More

 

TCJA Effects Tracker

Does Government Play Favorites? Evidence from Opportunity Zones

September 18, 2020

In 2017, Congress introduced the Opportunity Zone (``OZ'') designation to promote development in distressed communities. A criticized feature of the program is that state governors select zones from many eligible tracts without meaningful scrutiny. We find that while governors are more likely to select tracts with higher distress levels and tracts on an upward economic trajectory, favoritism seems to play an important role in governor decisions. OZ designation is more likely for tracts in counties that supported the governor in the election and when executives or firms with an economic interest in the tract donated to the governor's campaign. More