Congressional Research Service Reports - 234 Matching Results
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- The Internet Tax Freedom Act: In Brief
- This report discusses the Internet Tax Freedom Act (ITFA; P.L. 105-277), which enacted in 1998, implemented a three-year moratorium preventing state and local governments from taxing Internet access, or imposing multiple or discriminatory taxes on electronic commerce.
- The Medical Device Excise Tax: Economic Analysis
- This report reviews the issues surrounding the medical devices tax within the framework of basic principles surrounding the choice of commodities to tax under excise taxes. The next section describes the tax and its legislative origins. After that, the report analyzes the arguments for retaining and repealing the tax.
- Tax Deductions for Individuals: A Summary
- This report first describes what tax deductions are, how they vary in their effects on reducing taxable income, and how they differ from other provisions (e.g., exclusions or credits). Next, it discusses the rationale for deductions as part of the tax code. The final section of this report includes tables that summarize each individual tax deduction, under current law. Many of these deductions are part of the permanent income tax code.
- Tax Provisions to Assist with Disaster Recovery
- Report that provides a basic overview of existing, permanent provisions that benefit victims of disasters, as well as past, targeted legislative responses to particular disasters. The relief is discussed without examining either the qualifications for or the limitation on claiming the provisions' benefits.
- Alternative Minimum Taxpayers by State: 2009, 2010, and Projections for 2012
- Report that breaks down, state-by-state, the percentage of taxpayers subject to Alternative Minimum Tax (AMT), and also maps out these projections for the year 2012.
- Recently Expired Community Assistance Related Tax Provisions ("Tax Extenders"): In Brief
- This report briefly summarizes four community assistance-related tax provisions included in the EXPIRE Act, which are (1) the New Markets Tax Credit, (2) Empowerment Zone Tax Incentives, (3) allocation of bond limitations for Qualified Zone Academy Bonds, and (4) the American Samoa Economic Development Credit.
- Expired and Expiring Temporary Tax Provisions ("Tax Extenders")
- This report discusses dozens of temporary tax provisions that expired at the end of 2013, and several other temporary tax provisions that are scheduled to expire at the end of 2014.
- What Happens if H.R. 1 Conflicts with U.S. Tax Treaties?
- This report discusses what happens if a new U.S. tax law contradicts existing U.S. international tax treaties, with considerations for Congress.
- What Share of Taxpayers Would See a Tax Increase or a Tax Decrease Under a Senate Version of the Tax Reform Bill
- This report provides a brief overview and charts illustrating statistics about who would receive tax cuts, tax increases, or stay the same under the Senate version of the Tax Reform Bill.
- The Federal Tax System for the 2017 Tax Year
- This report describes the current federal tax structure and provides some statistics on the tax system as a whole, as of 2017.
- Value-Added Tax (VAT) as a Revenue Option: A Primer
- This report summarizes issues, arguments, and concerns relevant to a value-added tax (VAT).
- Tax Policy and Disaster Recovery
- This report discusses, in broad terms, disaster-related tax policy. Challenges associated with using the tax code to deliver federal financial assistance following natural disasters are also discussed.
- Certain Temporary Tax Provisions Scheduled to Expire in 2009 (“Extenders”)
- 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.
- Tax Reform in the 114th Congress: An Overview of Proposals
- This report provides background information regarding tax reform and discusses ways to make the U.S. tax system simpler, fairer, and more efficient.
- Individual Taxpayer Identification Number (ITIN) Filers and the Child Tax Credit: Overview and Legislation
- This report discusses the child tax credit, which was created by the Taxpayer Relief Act of 1997 (P.L. 105-34) to help ease the financial burden on families when they have children. The ACTC is available to taxpayers with little or no federal income tax liability.
- EU State Aid and Apple's Taxes
- This report discusses the recent investigations by the European Union (EU) regarding claims that certain countries had provided illegal state aid via favorable tax rulings.
- Tax Reform in the 113th Congress: An Overview of Proposals
- This report provides background information regarding tax reform and discusses ways to make the U.S. tax system simpler, fairer, and more efficient.
- The Excise Tax on High-Cost Employer-Sponsored Health Insurance: Estimated Economic and Market Effects
- This report examines several issues: it evaluates the potential of the Cadillac tax to affect health insurance coverage (and, therefore, the health market), and examines the expected incidence (burden) of the tax--that is, which group will pay the price of the tax.
- The Excise Tax on High-Cost Employer-Sponsored Health Coverage: Background and Economic Analysis
- This report gives a brief description of the excise tax on high-cost employer-sponsored coverage, commonly referred to as the Cadillac tax, including the legislative origins of the tax and an analysis of the revenue effects of the tax. It also analyzes the Cadillac tax using standard economic criteria of efficiency, equity, and administrative simplicity as well as an analysis of health insurance premium data to provide insights into what share of health insurance plans could exceed the Cadillac tax threshold and how the threshold could affect more health plans over time.
- Capital Gains Tax: An Overview
- This report gives a brief overview of taxes and tax law regarding capital gains.
- Tax Incentives for Opportunity Zones: In Brief
- This report discusses tax incentives for opportunity zones (OZ) which are low-income areas selected by state governors for revitalization efforts. This report briefly describes what census tracts are eligible to be nominated as an OZ by the "chief executive officer" (typically, the governor) of each state or territory, what types of entities can be certified as Qualified Opportunity Funds (QOFs), and the tax benefits of investments in QOFs.
- Issues in International Corporate Taxation: The 2017 Revision (P.L. 115-97)
- This report discusses international tax laws and the 2017 tax reform bill. The report begins by explaining prior international tax rules and the revisions made in the new law. The second part of the report discusses the four major issues of concern under prior law-- allocation of investment, profit shifting, repatriation, and inversions--and how the new law addresses these concerns, or raises new ones. That section also discusses issues associated with international agreements. The final section summarizes commentary about problems and issues, including legal challenges and uncertainty, within the new international tax regime and options that have been suggested. That section discusses some of the more detailed rules.
- The Earned Income Tax Credit (EITC): An Overview
- This report provides an overview of the Earned Income Tax Credit (EITC), first discussing eligibility requirements for the credit, followed by how the credit is computed and paid. The report then provides data on the growth of the EITC since it was first enacted in 1975. Finally the report concludes with data on the EITC claimed on 2015 tax returns, examining EITC claims by number of qualifying children, income level, tax filing status, and location of residence.
- Higher Education Tax Benefits: Brief Overview and Budgetary Effects
- This report provides a brief overview of the higher education tax benefits that are currently available to students and their families. These tax benefits can be divided into three groups: incentives for current year expenses, incentives for preferential tax treatment of student loan expenses, and incentives for saving for college.
- Child and Dependent Care Tax Benefits: How They Work and Who Receives Them
- This report discusses the workings of the child and dependent care tax benefits and who is eligible.
- Recently Expired Individual Tax Provisions (Tax Extenders"): In Brief
- This report provides background information on three individual income tax provisions (Tax Exclusion for Canceled Mortgage Debt, Mortgage Insurance Premium Deductibility, and Above-the-Line Deduction for Qualified Tuition and Related Expenses) that expired in 2017.
- The Section 179 and Section 168 (k) Expensing Allowances: Current Law and Economic Effects
- This report examines the current status, legislative history, and main economic effects (including their efficacy as a tool for economic stimulus) of the Section 179 and bonus depreciation allowances.
- Tax Options for Financing Health Care Reform
- This report reviews the revenue raisers proposed to fund health care reform. Other financing proposals are presented including those made by the Obama Administration and those introduced in earlier congressional work. The final sections discuss other proposals suggested by the round-table discussion participants.
- Tax Provisions that Expired in 2014 ("Tax Extenders")
- This report provides a broad overview of the tax extenders that retroactively extend expired tax provisions, including the Tax Increase Prevention Act of 2014, which made tax provisions that had expired at the end of 2013 available to taxpayers for the 2014 tax year.
- Tax Reform: An Overview of Proposals in the 111th Congress
- This report primarily covers fundamental tax reform by discussing background and proposals for review during the 111th Congress. It includes sections about fundamental tax reform, the relationship between income and consumption, what should be taxed, types of broad-based consumption taxes, international comparisons, other types of fundamental tax reform, legislative proposals and other legislation, and sections looking at other specific kinds of taxation.
- The Rum Excise Tax Cover-Over: Legislative History and Current Issues
- This report provides a history and analysis of the rum cover-over program and current legislative efforts to modify the program. The congressional debate on this legislation could also lead to debate on the broader issue of the cover-over program more generally.
- Restrictions on Itemized Tax Deductions: Policy Options and Analysis
- This report analyzes various proposals to restrict itemized deductions--both across-the-board and individually tailored--using standard economic criteria of economic efficiency, distribution, simplicity, and estimated revenue effects. In particular, this report estimates each proposal's potential to contribute to revenue-neutral reductions in income tax rates and the consequences for economic behavior.
- Recently Expired Charitable Tax Provisions ("Tax Extenders"): In Brief
- This report discusses the four charitable tax provisions are discussed in this report: the enhanced charitable deduction for contributions of food inventory; tax-free distributions from individual retirement accounts for charitable purposes; basis adjustment to stock of S corporations making charitable contributions of property; and special rules for contributions of capital gain real property for conservation purposes.
- Tax Reform in the 113th Congress: An Overview of Proposals
- This report provides background information regarding tax reform and discusses ways to make the U.S. tax system simpler, fairer, and more efficient.
- Selected Recently Expired Individual Tax Provisions ("Extenders"): In Brief
- This report briefly summarizes and discusses items categorized as individual tax provisions. These and other temporary tax provisions that are regularly extended for one or two years are often referred to as "tax extenders."
- Child and Dependent Care Tax Benefits: How They Work and Who Receives Them
- This report provides a general overview of the child and dependent care tax benefits, focusing on eligibility requirements and benefit calculation. The report also includes some summary data on these benefits which highlight some of the characteristics of claimants.
- Itemized Tax Deductions for Individuals: Data Analysis
- This report analyzes the most recently available public data from the Internal Revenue Service's (IRS) Statistics of Income (SOI) to provide an overview of who claims itemized deductions, what they claim them for, and the amount in deductions claimed. In addition, the revenue loss associated with several of the larger deductions is presented using data from the Joint Committee on Taxation's (JCT's) tax expenditure estimates. This report concludes with a brief discussion of the implications of various policy options to reform or limit itemized deductions.
- Business Tax Provisions That Expired in 2016 ("Tax Extenders")
- This report briefly summarizes and discusses the economic impact of selected business-related tax provisions that expired at the end of 2016. Types of business provisions covered are special business investment (cost recovery), economic development, and other miscellaneous business-related matters.
- Tax Reform: The Child Credit and the Child Care Credit
- This report discusses the child credit and the child care credit and what changes are being made to them in the new tax reform plan currently being debated. This report provides background to help assess who would be assisted by potential changes to either credit. It shows what types of families with children receive both credits and how the credits are distributed across the income distribution.
- Corporate Tax Reform: Issues for Congress
- This report provides an overview of corporate tax issues and discusses potential reforms in the context of these issues, with particular attention to some of the research concerning large behavioral responses and their implications for revenue and distribution. The first section reviews the size and history of the corporate income tax, and discusses an important issue that has been given little attention by those who propose deep cuts in the corporate tax: its role in preventing the use of the corporate form as a tax shelter by wealthy business owners. This section also discusses the potential effect of behavioral responses on corporate tax revenues. The second section examines the role of the corporate tax in contributing to a progressive tax system and discusses claims that the burden falls on workers. The third section reviews arguments relating to efficiency and revenue yield, and traditional criticisms of the corporate tax as one that causes important behavioral distortions. One aspect of this discussion is the question of how the tax might be viewed differently in a more global economy. The final section examines options for reform.
- Import Tariff or Border Tax: What is the Difference and Why Does it Matter?
- This report briefly describes the difference between import tariffs and border taxes and whether the President may unilaterally impose them without congressional approval.
- The "Better Way" House Tax Plan: An Economic Analysis
- This report describes current tax law and the proposed changes under the Better Way tax reform blueprint. It discusses economic efficiency, distributional and equity issues, administrative and compliance issues, revenue effects, and other tax-related issues.
- The Earned Income Tax Credit (EITC): An Economic Analysis
- This report discusses the Earned Income Tax Credit (EITC), which is a refundable tax credit available to eligible workers earning relatively low wages
- Health-Related Tax Expenditures: Overview and Analysis
- This report analyzes health-related tax expenditures together at the budget function level, rather than focusing on the size of any single provision. To provide some insights into common questions about health-related expenditures, this report analyzes historical data on health-related tax expenditure estimates published by the Joint Committee on Taxation (JCT).
- Estate Taxes and Family Businesses: Economic Issues
- The report discusses an uncapped exemption and an uncapped exemption targeted at liquidity issues.
- Constitutional Authorities Under Which Congress Regulates State Taxation
- This report discusses these authorities and several of the possible limitations. It also provides examples of where Congress has appeared to act under each authority.
- Estate Tax Options
- After a brief description of the estate and gift tax and of options, this report compares the alternatives, focusing largely on a $1 million exemption and 55% rate, a $3.5 million exemption and a 45% rate, and a $5 million exemption and a 35% rate. Several policy effects and issues are analyzed: the share of decedents subject to tax, revenue effects, distributional effects, and effects on savings, charitable contributions, and compliance and administration. The report also considers other aspects of the proposals, such as whether the exemptions are indexed for inflation, a proposed inheritance of the exemption for spouses, and proposals to address perceived abuses.
- Dependent Care: Current Tax Benefits and Legislative Issues
- This report discusses current tax treatment of dependent care expenses under those two provisions and options for changing those policies. Two income tax provisions help taxpayers pay for the costs of caring for children and older dependents who cannot care for themselves.
- The Excise Tax on High-Cost Employer- Sponsored Health Insurance: Estimated Economic and Market Effects
- This report examines several issues related to health insurance: it evaluates the potential of the Cadillac tax to affect health insurance coverage (and, therefore, the health market), and examines the expected incidence (burden) of the tax--that is, which group will pay the price of the tax.
- An Overview of Recent Tax Reform Proposals
- This report provides a review of legislative tax reform proposals introduced since the 113th Congress. Several proposals have already been introduced in the 115th Congress to replace the current income tax system.