Whether you are a seasoned tax professional or just learning the basics, Tax Foundation University offers valuable knowledge on individual and business tax policy and how taxpayers respond to the code. The course is designed for congressional staff, focusing on tax provisions often targeted for reform and explaining current tax issues before Congress with an eye towards their economic implications.
Tax Foundation University 2025 Overview
Tax Foundation University is a free lecture series designed to equip congressional staffers with valuable and timely insights on tax policy and economics. The three, one-hour sessions feature Tax Foundation experts explaining the essential components of the tax code and how to analyze tax policy like a tax economist. This year, as the upcoming Tax Cuts and Jobs Act expirations take center stage, our lessons feature timely tax provisions and how students should apply the principles ofsound tax policy.
Upon satisfying the course requirements, students will receive a certification of completion from the Tax Foundation. To earn the certificate, students must attend at least two of the three lectures and earn a passing grade for each course assessment. We will provide a copy of the certificate at graduation after our final class, and you will receive an electronic copy that can be added to your LinkedIn profile. If you would like to learn more about the course materials, see the recordings from Tax Foundation University 2024.
2025 Curriculum
Session 1: The Individual Tax Code
In the first class,Garrett Watson covers the individual tax code. This includes the items in a typical individual income tax return, explaining how pass-through businesses interact with the individual income tax, and popular family and worker tax credits used by millions of taxpayers.Garrett discusses the upcoming individual tax changes related to the 2017 Tax Cuts and Jobs Act (TCJA), which are scheduled to expire at the end of the year, and options policymakers can consider to address the looming expirations.Areas of Focus
- Review of a Typical Individual Tax Return
- How Do Pass-Through Businesses Pay Taxes?
- Family and Worker Tax Credits
- TCJA Expirations (Individual)
Related Resources
- Video: How Do Tax Brackets Work?
- Video: The Three Basic Tax Types
- Interactive Tool: How the TCJA’s Expiration Will Affect You
Glossary Terms
- Adjusted Gross Income (AGI)
- Alternative Minimum Tax (AMT)
- Capital Gains Tax
- Child Tax Credit (CTC)
- Earned Income Tax Credit (EITC)
- Flat Tax
- Graduated Rate Income Tax
- Individual Income Tax
- Inflation Indexing
- Itemized Deduction
- Marginal Tax Rate
- Progressive Tax
- Refundable Tax Credit
- Regressive Tax
- Standard Deduction
- State and Local Tax (SALT) Deduction
- Tax Bracket
- Tax Credit
- Tax Cuts and Jobs Act (TCJA)
- Tax Deduction
- Tax Exemption
- Taxable Income
- Withholding
Session 2: The Business Tax Code
In the second of three sessions,Erica York provides overview on how C corporations and pass-through businesses pay taxes and how business taxes affect investment, employment, and wages. Key concepts such as the corporate income tax, cost recovery, and Section 199A (pass-through business) deduction are explained.
Erica discusses the business tax expirations under the Tax Cuts and Jobs Act (TCJA), and major tax provisions in the Inflation Reduction Act (IRA). To finish, the class reviews options for further reforms.
Areas of Focus
- The Basics of Business Income Taxes
- Impact of the Corporate Tax on Investment and Workers
- Do Corporations Pay $0 in Federal Taxes?
- TCJA Expirations and Options for Tax Reform
Related Resources
- Video: Going Beyond the Headlines: Understanding Corporate Taxes
- Video: It Pays to Keep it Simple
- Video: Who Bears the Burden of the Corporate Income Tax?
- Video: Tax Reform Is More Than Just the Rate
Glossary Terms
Session 3: The International Tax Code
For our final session,Alan Cole provides an overview of how multinational entities (MNEs) pay taxes, the goals of sound international tax policy, and recent and upcoming changes to our international tax code.
Alan explains how the international tax code impacts MNE’s decisions to hire and make investments in the US and influence the competitiveness of US companies abroad.
Relevant to the 2025 tax expirations, learn about the scheduled international tax changes under the Tax Cuts and Jobs Act (TCJA) and the essentials of global minimum tax.
Areas of Focus
- The Basics and Goals of International Tax Policy
- Why Does International Tax Policy Matter for Jobs, Wages, and Investment?
- What Is Profit Shifting?
- Upcoming Changes to the International Tax Code
- The Global Minimum Tax and Implications for US Tax Policy
Related Resources
- The Impact of GILTI, FDII, and BEAT
- The Latest on the Global Tax Agreement
- Video: GILTI: Foreign Tax, Local Impact
- Video: It Pays to Keep it Simple
- The Short Form: What You Need to Know About the Global Tax Deal
Glossary Terms
- Base Erosion and Anti-Abuse Tax (BEAT)
- Foreign-Derived Intangible Income (FDII)
- Global Intangible Low-Taxed Income (GILTI)
- OECD Pillar 1
- OECD Pillar 2 (Global Minimum Tax)
- Patent Box
- Profit Shifting
- Qualified Business Asset Investment (QBAI) Exemption
- Repatriation
- Territorial Tax System
- Undertaxed Profits Rule (UTPR)
- Worldwide Tax System
- Tax Cuts and Jobs Act (TCJA)