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 Collection: Congressional Research Service Reports
Calculating Estate Tax Liability: 2001 to 2011 and Beyond

Calculating Estate Tax Liability: 2001 to 2011 and Beyond

Date: May 7, 2008
Creator: Noto, Nonna A.
Description: This report provides a basic explanation of how to calculate the federal estate tax liability for a taxable estate of any given size, using the schedule of graduated marginal tax rates and the applicable exclusion amount or the applicable credit amount for the year of death. The “applicable exclusion amount” is the amount of any decedent’s taxable estate that is free from tax. It is known informally as the estate tax “exemption.” The “applicable credit amount” or “unified credit” is the corresponding tax credit. It is equal to the tax that would be due on a taxable estate that is the size of the applicable exclusion amount.
Contributing Partner: UNT Libraries Government Documents Department
Calculating Estate Tax Liability: 2001 to 2011 and Beyond

Calculating Estate Tax Liability: 2001 to 2011 and Beyond

Date: November 3, 2006
Creator: Noto, Nonna A.
Description: This report provides a basic explanation of how to calculate the federal estate tax liability for a taxable estate of any given size, using the schedule of graduated marginal tax rates and the applicable exclusion amount or the applicable credit amount for the year of death. The “applicable exclusion amount” is the amount of any decedent’s taxable estate that is free from tax. It is known informally as the estate tax “exemption.” The “applicable credit amount” or “unified credit” is the corresponding tax credit. It is equal to the tax that would be due on a taxable estate that is the size of the applicable exclusion amount.
Contributing Partner: UNT Libraries Government Documents Department
The Earned Income Tax Credit (EITC): An Economic Analysis

The Earned Income Tax Credit (EITC): An Economic Analysis

Date: June 2, 2015
Creator: Crandall-Hollick, Margot L.
Description: This report discusses the Earned Income Tax Credit (EITC), which is a refundable tax credit available to eligible workers earning relatively low wages
Contributing Partner: UNT Libraries Government Documents Department
An Introduction to the Low-Income Housing Tax Credit

An Introduction to the Low-Income Housing Tax Credit

Date: November 7, 2014
Creator: Keightley, Mark P. & Stupak, Jeffrey M.
Description: This report discusses the low-income housing tax credit (LIHTC) program, which is one of the federal government’s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These non-refundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities.
Contributing Partner: UNT Libraries Government Documents Department
An Introduction to the Design of the Low-Income Housing Tax Credit

An Introduction to the Design of the Low-Income Housing Tax Credit

Date: October 15, 2008
Creator: Keightley, Mark P.
Description: This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.
Contributing Partner: UNT Libraries Government Documents Department
An Introduction to the Design of the Low-Income Housing Tax Credit

An Introduction to the Design of the Low-Income Housing Tax Credit

Date: December 15, 2009
Creator: Keightley, Mark P.
Description: This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.
Contributing Partner: UNT Libraries Government Documents Department
An Introduction to the Design of the Low-Income Housing Tax Credit

An Introduction to the Design of the Low-Income Housing Tax Credit

Date: August 22, 2008
Creator: Keightley, Mark P.
Description: This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.
Contributing Partner: UNT Libraries Government Documents Department
An Introduction to the Low-Income Housing Tax Credit

An Introduction to the Low-Income Housing Tax Credit

Date: February 12, 2013
Creator: Keightley, Mark P.
Description: This report discusses the low-income housing tax credit (LIHTC) program, which is one of the federal government’s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These non-refundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities.
Contributing Partner: UNT Libraries Government Documents Department
Federal Estate, Gift, and Generation-skipping Taxes: A Description of Current Law

Federal Estate, Gift, and Generation-skipping Taxes: A Description of Current Law

Date: January 29, 2003
Creator: Luckey, John R.
Description: This report contains an explanation of the major provisions of the Federal estate, gift, and generation-skipping transfer taxes. The discussion divides the Federal estate tax into three components: the gross estate, deductions from the gross estate, and computation of the tax, including allowable tax credits.
Contributing Partner: UNT Libraries Government Documents Department
Federal Estate, Gift, And Generation-Skipping Taxes: A Description Of Current Law

Federal Estate, Gift, And Generation-Skipping Taxes: A Description Of Current Law

Date: January 15, 2002
Creator: Luckey, John R.
Description: This report contains an explanation of the major provisions of the Federal estate, gift, and generation-skipping transfer taxes. The discussion divides the Federal estate tax into three components: the gross estate, deductions from the gross estate, and computation of the tax, including allowable tax credits.
Contributing Partner: UNT Libraries Government Documents Department
Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Date: May 4, 2012
Creator: Luckey, John R.
Description: This report contains an explanation of the major provisions of the federal estate, gift, and generation-skipping transfer taxes. The discussion divides the federal estate tax into three components: the gross estate, deductions from the gross estate, and computation of the tax, including allowable tax credits. The federal estate tax is computed through a series of adjustments and modifications of a tax base known as the "gross estate." Certain allowable deductions reduce the gross estate to the "taxable estate," to which is then added the total of all lifetime taxable gifts made by the decedent. The tax rates are applied and, after reduction for certain allowable credits, the amount of tax owed by the estate is reached.
Contributing Partner: UNT Libraries Government Documents Department
Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Date: January 19, 2007
Creator: Luckey, John R.
Description: This report contains an explanation of the major provisions of the federal estate, gift, and generation-skipping transfer taxes. The discussion divides the federal estate tax into three components: the gross estate, deductions from the gross estate, and computation of the tax, including allowable tax credits. The federal estate tax is computed through a series of adjustments and modifications of a tax base known as the "gross estate." Certain allowable deductions reduce the gross estate to the "taxable estate," to which is then added the total of all lifetime taxable gifts made by the decedent. The tax rates are applied and, after reduction for certain allowable credits, the amount of tax owed by the estate is reached.
Contributing Partner: UNT Libraries Government Documents Department
Research Tax Credit: Current Law and Policy Issues for the 114th Congress

Research Tax Credit: Current Law and Policy Issues for the 114th Congress

Date: May 22, 2015
Creator: Guenther, Gary
Description: Technological innovation is a primary engine of long-term economic growth, and research and development (R&D) serves as the lifeblood of innovation. The federal government encourages businesses to invest more in R&D than they otherwise would in several ways, including a tax credit for increases in spending on qualified research above a base amount. This report describes the current status of the credit, summarizes its legislative history, discusses policy issues it raises, and describes legislation to modify and extend it.
Contributing Partner: UNT Libraries Government Documents Department
Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945 (Updated)

Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945 (Updated)

Date: December 12, 2012
Creator: Hungerford, Thomas L.
Description: Income tax rates are at the center of many recent policy debates over taxes. Some policymakers argue that raising tax rates, especially on higher income taxpayers, to increase tax revenues is part of the solution for long-term debt reduction. This report examines the top tax rates since 1945 and analyzes the ways in which tax rates affect economic growth.
Contributing Partner: UNT Libraries Government Documents Department
An Introduction to the Design of the Low-Income Housing Tax Credit

An Introduction to the Design of the Low-Income Housing Tax Credit

Date: June 20, 2008
Creator: Keightley, Mark P.
Description: This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.
Contributing Partner: UNT Libraries Government Documents Department
An Introduction to the Design of the Low-Income Housing Tax Credit

An Introduction to the Design of the Low-Income Housing Tax Credit

Date: January 24, 2008
Creator: Jackson, Pamela J.
Description: This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.
Contributing Partner: UNT Libraries Government Documents Department
IRS Reform: Innocent Spouse Rule

IRS Reform: Innocent Spouse Rule

Date: July 2, 1998
Creator: Ripy, Thomas B.
Description: Married couples filing joint tax returns are liable individually and as a couple for all taxes due on the return with a limited exemption for innocent spouses. This report discusses joint and several liability, which has been the subject of much criticism and calls for reform or elimination.
Contributing Partner: UNT Libraries Government Documents Department
Federal Income Tax Treatment of the Family

Federal Income Tax Treatment of the Family

Date: December 19, 2006
Creator: Gravelle, Jane G.
Description: The first section summarizes the major features of the tax law affecting families and family choices, and how they developed over time, including the relatively recent introduction of large benefits for children at low and moderate income levels, a reversal of a trend in the past that tended to reduce these benefits through the erosion of the real value of the personal exemptions. It also summarizes the origin of the marriage penalty and marriage bonus. The following two sections first discuss general equity issues, and then apply the ability-to-pay standard to examine how tax burdens vary by family size, across the income spectrum. The final section examines the marriage penalties and bonuses.
Contributing Partner: UNT Libraries Government Documents Department
Taxation of Unemployment Benefits

Taxation of Unemployment Benefits

Date: September 13, 2012
Creator: Whittaker, Julie M.
Description: Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Contributing Partner: UNT Libraries Government Documents Department
Taxation of Unemployment Benefits

Taxation of Unemployment Benefits

Date: February 7, 2013
Creator: Whittaker, Julie M.
Description: Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Contributing Partner: UNT Libraries Government Documents Department
Taxation of Unemployment Benefits

Taxation of Unemployment Benefits

Date: October 14, 2008
Creator: Whittaker, Julie M.
Description: Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. H.R. 6844 would provide a two-year suspension of the taxation of UC benefits. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Contributing Partner: UNT Libraries Government Documents Department
Taxation of Unemployment Benefits

Taxation of Unemployment Benefits

Date: January 17, 2012
Creator: Whittaker, Julie M.
Description: Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Contributing Partner: UNT Libraries Government Documents Department
Taxation of Unemployment Benefits

Taxation of Unemployment Benefits

Date: March 6, 2014
Creator: Whittaker, Julie M.
Description: Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Contributing Partner: UNT Libraries Government Documents Department
Taxation of Unemployment Benefits

Taxation of Unemployment Benefits

Date: January 14, 2005
Creator: Scott, Christine
Description: Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. Legislation was introduced in the 108th Congress that would have repealed the taxation of UC benefits, provided a two-year suspension of the taxation of UC benefits, or transferred the proceeds from taxing UC benefits to the Unemployment Trust Fund. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Contributing Partner: UNT Libraries Government Documents Department