Since its enactment in 1975, the Earned Income Tax Credit (EITC) has evolved from a small program to alleviate some of the tax burden of the payroll and income tax on low–income working parents to become a significant part of the Federal government's redistribution efforts. This paper presents...

Recent data on corporate tax losses presents a puzzle this paper attempts to explain: the ratio of losses to positive income was much higher around the recession of 2001 than in earlier recessions, even those of greater severity. Using a comprehensive sample of U.S. corporation tax returns for...