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 Collection: Congressional Research Service Reports
Estate Tax Legislation in the 108th Congress
Under provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16, enacted June 7, 2001), the estate tax is scheduled to be repealed in 2010 but reinstated in 2011. All tax cut provisions of EGTRRA are scheduled to sunset on December 31, 2010. This report tracks actions in the 108th Congress to permanently repeal the estate tax or to retain but alter the tax. digital.library.unt.edu/ark:/67531/metacrs5445/
Firms That Incorporate Abroad for Tax Purposes: Corporate "Inversions" and "Expatriation"
No Description digital.library.unt.edu/ark:/67531/metacrs5442/
Estate Tax Legislation in the 108th Congress
Under provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16, enacted June 7, 2001), the estate tax is scheduled to be repealed in 2010 but reinstated in 2011. All tax cut provisions of EGTRRA are scheduled to sunset on December 31, 2010. This report tracks actions in the 108th Congress to permanently repeal the estate tax or to retain but alter the tax. digital.library.unt.edu/ark:/67531/metacrs5447/
Economic Analysis of the Charitable Contribution Deduction for Non-Itemizers
This report summarizes the provisions affecting charitable contribution deductions of individuals, and then analyzes the incentive such a deduction would create for increased charitable giving beginning with the original proposal for a relatively low cap and then considering other approaches including the current one. It does not attempt to estimate other types of societal impacts. The non-itemizer’s charitable deduction was the single most important tax provision in the original version of H.R. 7. In S. 1924, S. 476, and the current version of H.R. 7, the nonitemizer provision was temporary and had a higher cap (and a floor). The provision affecting rollovers from IRAs, which can also function as a deduction for nonitemizers, is also discussed briefly. digital.library.unt.edu/ark:/67531/metacrs5440/
Estate Tax Legislation in the 108th Congress
Under provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16, enacted June 7, 2001), the estate tax is scheduled to be repealed in 2010 but reinstated in 2011. All tax cut provisions of EGTRRA are scheduled to sunset on December 31, 2010. This report tracks actions in the 108th Congress to permanently repeal the estate tax or to retain but alter the tax. digital.library.unt.edu/ark:/67531/metacrs5448/
Firms That Incorporate Abroad for Tax Purposes: Corporate "Inversions" and "Expatriation"
No Description digital.library.unt.edu/ark:/67531/metacrs5444/
The Jobs and Growth Tax Act (H.R. 2): A Brief Overview of the House Tax-Cut Bill
No Description digital.library.unt.edu/ark:/67531/metacrs5449/
Estate Tax Legislation in the 108th Congress
Under provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16, enacted June 7, 2001), the estate tax is scheduled to be repealed in 2010 but reinstated in 2011. All tax cut provisions of EGTRRA are scheduled to sunset on December 31, 2010. This report tracks actions in the 108th Congress to permanently repeal the estate tax or to retain but alter the tax. digital.library.unt.edu/ark:/67531/metacrs5446/
Firms That Incorporate Abroad for Tax Purposes: Corporate "Inversions" and "Expatriation"
No Description digital.library.unt.edu/ark:/67531/metacrs5443/
Individual Retirement Accounts (IRAs): Issues and Proposed Expansion
No Description digital.library.unt.edu/ark:/67531/metacrs5202/
Individual Retirement Accounts (IRAs): Issues and Proposed Expansion
No Description digital.library.unt.edu/ark:/67531/metacrs5201/
Individual Retirement Accounts (IRAs)
No Description digital.library.unt.edu/ark:/67531/metacrs8165/
The Effects of Indexation on Tax Revenues and Distributional Effects of the U.S. Individual Income Tax System: A Historical Simulation
This report compares the actual tax revenues and distribution of the tax burden under the Federal individual income tax from 1971 to 1981 with estimates of what they would have been under the 1971 tax structure if indexed for inflation and under the 1971 tax structure if left unchanged. Policy implications of the comparison are discussed. digital.library.unt.edu/ark:/67531/metacrs8815/
Individual Retirement Accounts (IRAs): Issues, Proposed Expansion, and Retirement Savings Accounts (RSAs)
No Description digital.library.unt.edu/ark:/67531/metacrs1278/
Retirement Plans with Individual Accounts: Federal Rules and Limits
No Description digital.library.unt.edu/ark:/67531/metacrs1279/
The Level of Taxes in the United States, 1940-2000
No Description digital.library.unt.edu/ark:/67531/metacrs1962/
What Effects Have the Recent Tax Cuts Had on the Economy?
No Description digital.library.unt.edu/ark:/67531/metacrs6047/
The Level of Taxes in the United States, 1940-2003
No Description digital.library.unt.edu/ark:/67531/metacrs6048/
Estate Tax Legislation in the 108th Congress
Under provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16, enacted June 7, 2001), the estate tax and generation-skipping transfer tax are scheduled to be repealed in 2010 but reinstated in 2011. This is because all tax cut provisions of EGTRRA are scheduled to sunset on December 31, 2010. This report tracks actions in the 108th Congress to permanently repeal — or retain but alter — the estate tax. digital.library.unt.edu/ark:/67531/metacrs6046/
U.S. Taxation of Overseas Investment
No Description digital.library.unt.edu/ark:/67531/metacrs2814/
U.S. Taxation of Overseas Investment
No Description digital.library.unt.edu/ark:/67531/metacrs2813/
Extending the 2001, 2003, and 2004 Tax Cuts
This report discusses the Economic Growth and Tax Relief Reconciliation Act of 2001, the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA, and the Working Family Tax Relief Act of 2004 (WFTRA). Since all of the tax reductions provisions of all three of these acts expire at some point in the future, Congress faces the issue of whether to extend and/or make the reductions permanent. Extending these tax reductions, however, is likely to significantly reduce federal revenues in the future. digital.library.unt.edu/ark:/67531/metacrs6725/
Estate and Gift Taxes: Economic Issues
The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) repeals the estate tax in 2010. During the phase-out period, the new law increases the exempt amount to $3.5 million by 2009 ($1.5 million in 2005), lowers the top rate to 45% by 2007 (the top rate in 2005 is 47%), and repeals the federal credit for state death taxes in 2005. The federal gift tax remains though the rate is reduced to the top personal income tax rate (35% in 2005). After repeal of the estate tax, carryover basis replaces step-up in basis for assets transferred at death. The legislation includes an exemption from carryover basis for capital gains of $1.3 million (and an additional $3 million for a surviving spouse). However, the estate tax provision in EGTRRA automatically sunsets December 31, 2010. digital.library.unt.edu/ark:/67531/metacrs6312/
Forms that Incorporate Abroad for Tax Purposes: Corporate "Inversions" and "Expatriation"
No Description digital.library.unt.edu/ark:/67531/metacrs6378/
Jobs and Growth Tax Relief Reconciliation Act: Provisions Expiring in 2004
No Description digital.library.unt.edu/ark:/67531/metacrs6595/
Jobs and Growth Tax Relief Reconciliation Act: Provisions Expiring in 2004
No Description digital.library.unt.edu/ark:/67531/metacrs6596/
Individual Retirement Accounts (IRAs): Issues and Proposed Expansion
No Description digital.library.unt.edu/ark:/67531/metacrs1892/
The Level of Taxes in the United States, 1941-1999
No Description digital.library.unt.edu/ark:/67531/metacrs1313/
Tax-Cut Legislation: The Economic Growth and Tax Relief Act of 2001 (H.R. 3)
No Description digital.library.unt.edu/ark:/67531/metacrs1967/
H.R. 8: The Death Tax Elimination Act of 2001
No Description digital.library.unt.edu/ark:/67531/metacrs1960/
The Child Tax Credit and the President's Tax Cut Plan
The child tax credit was enacted as part of the Taxpayer Relief Act of 1997. The current credit is $500 per qualifying child. President Bush has proposed increasing the child tax credit to $1,000 per qualifying child. The President has also proposed making permanent the temporary rule in current law that allows the child tax credit to offset a taxpayer’s alternative minimum tax. digital.library.unt.edu/ark:/67531/metacrs1968/
President Bush's Tax Proposal: A Brief Overview
No Description digital.library.unt.edu/ark:/67531/metacrs1966/
Individual Retirement Accounts (IRAs): Tax Incentives for Retirement Savings
No Description digital.library.unt.edu/ark:/67531/metacrs8611/
Tax Reform and Distributional Issues
No Description digital.library.unt.edu/ark:/67531/metacrs9269/
Firms That Incorporate Abroad for Tax Purposes: Corporate "Inversions" and "Expatriation"
No Description digital.library.unt.edu/ark:/67531/metacrs3445/
An Analysis of the Tax Treatment of Capital Losses
This report provides an overview of issues related to the tax treatment of capital losses. It explains the current income tax treatment of losses, describes the historical treatment of losses, provides examples of the tax gaming opportunities associated with the net loss deduction, examines the distributional issues, and discusses the possible stimulative effects of an increase in the net loss deduction. digital.library.unt.edu/ark:/67531/metacrs3447/
Firms That Incorporate Abroad for Tax Purposes: Corporate "Inversions" and "Expatriation"
No Description digital.library.unt.edu/ark:/67531/metacrs3446/
Economic Analysis of the Charitable Contribution Deduction for Non-Itemizers
This report summarizes the provisions affecting charitable contribution deductions of individuals, and then analyzes the incentive such a deduction would create for increased charitable giving beginning with the original proposal for a relatively low cap and then considering other approaches including the current one. It does not attempt to estimate other types of societal impacts. The non-itemizer’s charitable deduction was the single most important tax provision in the original version of H.R. 7. In S. 1924, S. 476, and the current version of H.R. 7, the nonitemizer provision was temporary and had a higher cap (and a floor). The provision affecting rollovers from IRAs, which can also function as a deduction for nonitemizers, is also discussed briefly. digital.library.unt.edu/ark:/67531/metacrs3443/
Tax Incentives for Charity: An Overview of Legislative Proposals
No Description digital.library.unt.edu/ark:/67531/metacrs3455/
Estate Tax: Legislative Activity in 2002
The provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) are scheduled to sunset on December 31, 2010. On April 18, 2002, the House passed legislation, H.R. 586, that would remove the sunset provision and thereby make permanent all other provisions of the tax cut law enacted in June 2001. This includes making permanent the repeal of the estate tax. On June 6, the House passed a free-standing estate tax repeal bill. H.R. 2143 would remove the sunset provision of EGTRRA solely with respect to the estate tax provisions of the 2001 Act. digital.library.unt.edu/ark:/67531/metacrs3457/
Estate Tax: Legislative Activity in 2002
The provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) are scheduled to sunset on December 31, 2010. On April 18, 2002, the House passed legislation, H.R. 586, that would remove the sunset provision and thereby make permanent all other provisions of the tax cut law enacted in June 2001. This includes making permanent the repeal of the estate tax. On June 6, the House passed a free-standing estate tax repeal bill. H.R. 2143 would remove the sunset provision of EGTRRA solely with respect to the estate tax provisions of the 2001 Act. digital.library.unt.edu/ark:/67531/metacrs3458/
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. digital.library.unt.edu/ark:/67531/metadc227830/
Tax Code Termination Act: A Fact Sheet
No Description digital.library.unt.edu/ark:/67531/metacrs796/
Estate Tax Legislation in the 109th Congress
Under provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16), the estate tax and generation-skipping transfer tax are scheduled to be repealed effective January 1, 2010. But the estate tax repeal, and all other provisions of EGTRRA, are scheduled to sunset December 31, 2010. If the sunset provision is not repealed, or the law is not otherwise changed beforehand, in 2011 estate and gift tax law will return to what it would have been had EGTRRA never been enacted. The unified estate and gift taxes will be reinstated with an exclusion amount of $1 million. The maximum tax rate will revert to 55%. digital.library.unt.edu/ark:/67531/metacrs7434/
The Level of Taxes in the United States, 1940-1997
No Description digital.library.unt.edu/ark:/67531/metacrs793/
Income Tax Relief in Times of Disaster
No Description digital.library.unt.edu/ark:/67531/metacrs7646/
Retirement Plans with Individual Accounts: Federal Rules and Limits
No Description digital.library.unt.edu/ark:/67531/metacrs7043/
Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects
This report examines the current status, legislative history, and economic effects of the two expensing allowances (Section 179 and Bonus Depreciation Allowance) and also discusses initiatives in the 112th Congress to modify them. Expensing is the most accelerated form of depreciation for tax purposes. Section 179 of the Internal Revenue Code (IRC) allows a taxpayer to expense up to $125,000 of the total cost of new and used qualified depreciable assets it buys and places in service in 2012, within certain limits. In addition, Section 168(k) generally allows taxpayers to expense half the cost of qualified assets bought and placed in service in 2012. digital.library.unt.edu/ark:/67531/metadc122284/
Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945
This report attempts to clarify whether or not there is an association between the tax rates of the highest income taxpayers and economic growth. Data is analyzed to illustrate the association between the tax rates of the highest income taxpayers and measures of economic growth. digital.library.unt.edu/ark:/67531/metadc122256/
Superfund Taxes or General Revenues: Future Funding Issues for the Superfund Program
This report discusses the role of dedicated taxes and other sources of revenue in funding the Hazardous Substance Superfund Trust Fund. digital.library.unt.edu/ark:/67531/metadc98045/