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 Collection: Congressional Research Service Reports
Tax Issues and the Gulf of Mexico Oil Spill: Legal Analysis of Payments and Tax Relief Policy Options

Tax Issues and the Gulf of Mexico Oil Spill: Legal Analysis of Payments and Tax Relief Policy Options

Date: July 15, 2010
Creator: Sherlock, Molly F.; Lunder, Erika K.; Liu, Edward C. & Klein, Heather S.
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.
Contributing Partner: UNT Libraries Government Documents Department
Taxation of Internet Sales and Access: Legal Issues

Taxation of Internet Sales and Access: Legal Issues

Date: December 1, 2014
Creator: Lunder, Erika K.
Description: This report first looks at the Constitution's requirement of nexus, including an examination of whether recent state laws comply with the nexus standard and federal legislation that would affect the standard. It then looks at the scope of the Internet Tax Freedom Act (ITFA) moratorium on multiple or discriminatory taxes on electronic commerce and taxes on Internet access.
Contributing Partner: UNT Libraries Government Documents Department
PILT (Payments in Lieu of Taxes): Somewhat Simplified

PILT (Payments in Lieu of Taxes): Somewhat Simplified

Date: December 10, 2014
Creator: Corn, M. Lynne
Description: This report explains Payments in Lieu of Taxes (PILT), with an analysis of the five major factors affecting the calculation of a payment to a given county. It also describes the effects of recent legislative changes to PILT.
Contributing Partner: UNT Libraries Government Documents Department
Federal Deductibility of State and Local Taxes

Federal Deductibility of State and Local Taxes

Date: November 10, 2014
Creator: Maguire, Steven & Stupak, Jeffrey M.
Description: This report provides a brief history of deductible state and local taxes, and discusses deduction for real estate property taxes, deductions for income, sales, and use taxes. The report also discusses policy alternatives and current legislation.
Contributing Partner: UNT Libraries Government Documents Department
Tax Havens: International Tax Avoidance and Evasion

Tax Havens: International Tax Avoidance and Evasion

Date: September 3, 2010
Creator: Gravelle, Jane G.
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 options and a summary of specific legislative proposals.
Contributing Partner: UNT Libraries Government Documents Department
Tax Deductible Expenses: The BP Case

Tax Deductible Expenses: The BP Case

Date: August 11, 2010
Creator: Sherlock, Molly F.
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 of corporate tax deductions.
Contributing Partner: UNT Libraries Government Documents Department
Recently Expired Community Assistance Related Tax Provisions ("Tax Extenders"): In Brief

Recently Expired Community Assistance Related Tax Provisions ("Tax Extenders"): In Brief

Date: October 21, 2014
Creator: Lowry, Sean
Description: This report briefly summarizes four community assistance-related tax provisions included in the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, which are the New Markets Tax Credit, Empowerment Zone Tax Incentives, allocation of bond limitations for Qualified Zone Academy Bonds, and the American Samoa Economic Development Credit. The EXPIRE Act would extend each of these provisions for two years (through 2015). A discussion of their economic impact and related extension bills in the 113th Congress is also included.
Contributing Partner: UNT Libraries Government Documents Department
The Corporate Income Tax System: Overview and Options for Reform

The Corporate Income Tax System: Overview and Options for Reform

Date: December 1, 2014
Creator: Keightley, Mark P. & Sherlock, Molly F.
Description: This report presents information and research on the corporate tax to help policy makers understand and evaluate arguments presented in the tax reform debate. This report first reviews the structure of the corporate income tax. Data on which companies pay the corporate tax, corporate tax revenue, and how the U.S. system compares to the rest of the world are then presented and analyzed. Next, the economic effects of the corporate tax are reviewed--including a discussion of the purpose of the corporate tax, who bears the burden of the tax, and how to evaluate alternative corporate tax systems. The report then reviews broad reform options and concludes with a comparison of specific proposals that have been offered.
Contributing Partner: UNT Libraries Government Documents Department
Overview of the Federal Tax System

Overview of the Federal Tax System

Date: November 21, 2014
Creator: Sherlock, Molly F. & Marples, Donald J.
Description: The major sources of federal tax revenue are individual income taxes, Social Security and other payroll taxes, corporate income taxes, excise taxes, and estate and gift taxes. This report describes the federal tax structure, provides some statistics on the tax system as a whole, and presents analysis of selected tax concepts.
Contributing Partner: UNT Libraries Government Documents Department
The Earned Income Tax Credit (EITC): An Overview

The Earned Income Tax Credit (EITC): An Overview

Date: December 3, 2014
Creator: Falk, Gene & Crandall-Hollick, Margot L.
Description: The Earned Income Tax Credit (EITC) is a refundable tax credit available to eligible workers earning relatively low wages. This report provides an overview of the 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 2012 tax returns, examining EITC claims by number of qualifying children, income level, tax filing status, and location of residence.
Contributing Partner: UNT Libraries Government Documents Department