Congressional Research Service Reports - 234 Matching Results

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Tax Expenditures and the Federal Budget

Description: Among the options likely to be considered to deal with the long-term fiscal problem is reform of the federal tax system. The growth of the alternative minimum tax (AMT) and the expiration of the 2001 and 2003 tax cuts in 2010 will likely force some action on tax policy. The perception that the federal tax system is too complex and unfair could lead to public support for tax reform. Past efforts to reform the federal tax system have included policies to rein in the use and expense of tax expendi… more
Date: May 26, 2010
Creator: Hungerford, Thomas L.
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Partner: UNT Libraries Government Documents Department
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Tax Havens: International Tax Avoidance and Evasion

Description: The first section of this report reviews what countries might be considered tax havens, including a discussion of the Organization for Economic Development and Cooperation (OECD) initiatives and lists. The next two sections discuss, in turn, the corporate profit-shifting mechanisms and evidence on the existence and magnitude of profit shifting activity. The following two sections provide the same analysis for individual tax evasion. The report concludes with overviews of alternative policy opti… more
Date: June 4, 2010
Creator: Gravelle, Jane G.
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Partner: UNT Libraries Government Documents Department
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The Economic Effects of Capital Gains Taxation

Description: One provision of the 1913 individual income tax that generated a great deal of confusion was the taxation of income from the sale of property (i.e., capital gains income). This initial confusion has led to almost 100 years of legislative debates over capital gains. Beginning in 1922 capital gains were first subject to lower tax rates than ordinary income. This preferential treatment has continued throughout most of the history of the income tax. Proposals dealing with the taxation of capital ga… more
Date: June 18, 2010
Creator: Hungerford, Thomas L.
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Partner: UNT Libraries Government Documents Department
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Tax Issues and the Gulf of Mexico Oil Spill: Legal Analysis of Payments and Tax Relief Policy Options

Description: This report provides analysis of various policy options for providing tax relief to oil spill victims, highlighting the circumstantial differences between previous natural disasters and the current oil spill. The report concludes with a brief summary of current legislative efforts.
Date: July 15, 2010
Creator: Sherlock, Molly F.; Lunder, Erika K.; Liu, Edward C. & Klein, Heather S.
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Partner: UNT Libraries Government Documents Department
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The OECD Initiative on Tax Havens

Description: This report examines the Organization for Economic Cooperation and Development (OECD) and its role in changes to U.S. laws related to bribery, tax havens.
Date: July 29, 2010
Creator: Jackson, James K.
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Partner: UNT Libraries Government Documents Department
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Tax Credit Bonds: Overview and Analysis

Description: Almost all state and local governments sell bonds to finance public projects and certain qualified private activities. Most of the bonds issued are tax-exempt bonds because the interest payments are not included in the bondholder's (purchaser's) federal taxable income. In contrast, Tax Credit Bonds (TCBs) are a type of bond that offers the holder a federal tax credit instead of interest. This report explains the tax credit mechanism and describes the market for the bonds.
Date: July 29, 2010
Creator: Maguire, Steven
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Partner: UNT Libraries Government Documents Department
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Tax Deductible Expenses: The BP Case

Description: Following the release of BP's second quarter earning statement, which showed a $10 billion reduction in tax liability for oil-spill-related cleanup and expenses, media headlines have generated public concern, and in some cases outrage, over these tax savings. Further, the ability of BP to realize these tax savings has generated a number of inquiries as to how and why BP is entitled to this reduction in tax liability. This report discusses the nature of BP's $10 billion "credit" and the nature o… more
Date: August 11, 2010
Creator: Sherlock, Molly F.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Tax Havens: International Tax Avoidance and Evasion

Description: The first section of this report reviews what countries might be considered tax havens, including a discussion of the Organization for Economic Development and Cooperation (OECD) initiatives and lists. The next two sections discuss, in turn, the corporate profit-shifting mechanisms and evidence on the existence and magnitude of profit shifting activity. The following two sections provide the same analysis for individual tax evasion. The report concludes with overviews of alternative policy opti… more
Date: September 3, 2010
Creator: Gravelle, Jane G.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Certain Temporary Tax Provisions Scheduled to Expire in 2009 (“Extenders”)

Description: This report discusses numerous temporary tax provisions exist in the tax code. Often referred to as “extenders,” these provisions were originally enacted with an expiration date that has then been temporarily extended, in some cases numerous times.
Date: September 8, 2010
Creator: Bickley, James M.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Business Investment and Employment Tax Incentives to Stimulate the Economy

Description: This report discusses the merit of various business tax incentives and their effectiveness in providing fiscal stimulus during the recession. The two most common measures to provide business tax incentives for new investment are investment tax credits and accelerated deductions for depreciation.
Date: September 16, 2010
Creator: Hungerford, Thomas L. & Gravelle, Jane G.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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What Effects Would the Expiration of the 2001 and 2003 Tax Cuts Have on the Economy?

Description: In 2001 and 2003, Congress enacted major tax cuts (popularly referred to as the "Bush tax cuts"), the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. Congress is currently debating whether to extend some or all of these tax cuts that are scheduled to expire at the end of 2010. This report discusses the two main economic arguments against allowing the tax cuts to expire as scheduled, using historical evidence and by examini… more
Date: October 5, 2010
Creator: Labonte, Marc
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Tax Issues and the Gulf of Mexico Oil Spill: Legal Analysis of Payments and Tax Relief Policy Options

Description: This report will briefly discuss existing disaster-related tax provisions and their application to the recent Depewater Horizon oil rig explosion and subsequent oil spill in the Gulf of Mexico. The report then provides an analysis of the tax treatment of the BP payments to the individuals and businesses impacted by the oil spill as well as various policy options for providing tax relief to oil spill victims, highlighting the circumstantial differences between previous natural disasters and the … more
Date: October 14, 2010
Creator: Sherlock, Molly F.; Lunder, Erika K. & Liu, Edward C.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Bush Tax Cuts and the Economy

Description: The George W. Bush Administration enacted a series of tax cuts through the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. This report examines these tax cuts within the context of the current and long-term economic environment.
Date: October 27, 2010
Creator: Hungerford, Thomas L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Raising the Tax Rates on High-Income Taxpayers: Pros and Cons

Description: This report focuses on the debate over whether the top two marginal tax rates should be permitted to rise back to their 2001 levels, once the temporary tax provisions known as the "Bush tax cuts" expire on December 31, 2010. The report discusses arguments for and against raising the tax rates.
Date: November 5, 2010
Creator: Noto, Nonna A.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Bush Tax Cuts and the Economy

Description: The George W. Bush Administration enacted a series of tax cuts through the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. This report examines these tax cuts within the context of the current and long-term economic environment.
Date: November 10, 2010
Creator: Hungerford, Thomas L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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1099 Information Reporting Requirements and Penalties as Modified by the Patient Protection and Affordable Care Act and the Small Business Jobs Act of 2010

Description: This report discuses the 2010 expansion of reporting requirements listed in IRC (Internal Revenue Code) 6041. The controversy in these expansions lies in the burden the expansion imposes on small businesses. The report also describes the pieces of legislation that have amended IRC 6041, and the implications of that legislation along with the consequences of IRC 6041.
Date: November 24, 2010
Creator: Pettit, Carol A. & Liu, Edward C.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Bush Tax Cuts and the Economy

Description: The George W. Bush Administration enacted a series of tax cuts through the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. This report examines these tax cuts within the context of the current and long-term economic environment.
Date: December 8, 2010
Creator: Hungerford, Thomas L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Bush Tax Cuts and the Economy

Description: The George W. Bush Administration enacted a series of tax cuts through the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. This report examines these tax cuts within the context of the current and long-term economic environment.
Date: December 10, 2010
Creator: Hungerford, Thomas L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Reform of U.S. International Taxation: Alternatives

Description: This report describes and assesses the principal prescriptions that have been offered for broad reform of the current U.S. system for taxing international businesses. The report begins with an overview of current law and of possible revisions. It then sets the framework for considering economic efficiency as well as tax shelter activities. Finally, it reviews alternative approaches to revision in light of those issues.
Date: December 17, 2010
Creator: Gravelle, Jane G.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Early Withdrawals and Required Minimum Distributions in Retirement Accounts: Issues for Congress

Description: In response to the economic downturn, Congress considered providing relief to Americans by suspending two tax penalties on defined contribution retirement plans and Individual Retirement Accounts (IRAs). This report discusses the reasons offered in support of suspending these provisions, as well as the drawbacks. This report also presents data that estimates the number of households that these proposals would impact. Borrowing from retirement plans as an alternative to withdrawals is also discu… more
Date: January 7, 2011
Creator: Topoleski, John J.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Harbor Maintenance Trust Fund Expenditures

Description: In 1986, the Harbor Maintenance Tax (HMT) was enacted to fund U.S. Army Corps of Engineers' (USACE or the Corps) activities related to the routine operation and maintenance (O&M) of harbors, namely the dredging of harbor channels to their authorized depths and widths. Economic and equity issues related to HMT expenditures and collections are the main focus of this report. Before analyzing these issues, the report reviews the legislative history of the tax and legal challenges to it, discusses t… more
Date: January 10, 2011
Creator: Frittelli, John
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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