Congressional Research Service Reports - 834 Matching Results
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- 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.
- Tax Incentives for Charitable Giving in the Tax Cuts and Jobs Act (H.R. 1)
- This report discusses provisions of the proposed Tax Cuts and Jobs Act (H.R.1) which would reduce the tax incentive for charitable giving by decreasing the deduction amounts that most taxpayers would receive from charitable gift deductions.
- 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.
- The Individual Mandate for Health Insurance Coverage: In Brief
- This report provides an overview of the individual mandate, its associated penalty, and the exemptions from the mandate. It discusses the ACA reporting requirements designed, in part, to assist individuals in providing evidence of having met the mandate. The report includes some national- and state-level data on the application of the mandate's penalty in tax year (TY) 2014 and TY2015.
- 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.
- Energy Tax Provisions in the Tax Cuts and Jobs Acts (H.R.1)
- This report discusses energy-related tax provisions in the The Tax Cuts and Jobs Act (H.R.1). These changes are summarized in Table 1. H.R. 1 includes a broad restructuring of the federal income tax system. A full analysis of the consequences of this proposal for the energy sector, or various subsets of the energy sector, is beyond the scope of this insight.
- The Distribution of the Tax Policy Changes in H.R 1 and the Senate's Tax Cuts and Jobs Act
- This report discusses the Joint Committee on Taxation's (JCT) November 14, 2017 distributional analysis report of the House and Senate's proposed tax reform legislation which outlines how the changes made by the bill would effect the economic well-being of American taxpayers.
- 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.
- Who Earns Pass-Through Business Income? An Analysis of Individual Tax Return Data
- This report analyzes individual tax return data to determine who earns pass-through business income which is from sole proprietorships, partnerships, and S corporations. The analysis finds that in 2011 over 82% of net pass-through income was earned by individuals with an adjusted gross income (AGI) over $100,000, although these taxpayers accounted for just 23% of individual returns with pass-through income. Who earns pass-through income may have important implications for tax reform.
- Recently Expired Individual Tax Provisions (Tax Extenders"): In Brief
- This report provides background information on individual income tax provisions that expired in 2016. Information on costs associated with extending individual income tax expired provisions is provided in Table 1. The provisions that were extended in the PATH Act were extended for two years, retroactive for 2015 and through 2016. The estimated cost to make expired provisions permanent is as reported by the Congressional Budget Office (CBO). The CBO reports estimated deficit effects of extending expired and expiring tax provisions through the 10-year budget window (2018 – 2027).
- 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.
- FATCA Reporting on U.S. Accounts: Recent Legal Developments
- This report discusses the Foreign Account Tax Compliance Act (FACTA) intended to curb tax evasion through the use of offshore accounts and its requirement to for foreign banks to report information on their U.S. citizen account holders to the IRS. It starts with an overview of the foreign financial instituition (FFI) reporting requirements and examines the role of the intergovernmental agreements (IGAs) in implementing them. The report then discusses the confidentiality protections provided to the information reported by FFIs and litigation in which plaintiffs have raised concerns about privacy and the use of IGAs. It ends with a summary of FATCA legislation introduced in the 114th Congress.
- PILT (Payments in Lieu of Taxes): Somewhat Simplified
- This report discusses the Payment in Lieu of Taxes (PILT) program that compensates local jurisdictions (generally counties) for lost tax property tax revenue due to the presence of federal lands in their county. It covers all NPS, NFS, and BLM lands, some National Wildlife Refuge lands, and a few military lands. The payment calculations are based on a complicated five part system and the program has been criticized for paying vastly different amounts to some counties with similar land amounts and complicated inclusion rules Wildlife Refuge land. Past legislation and options for reform are also discussed.
- 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.
- Border-Adjusted Consumption Taxes and Exchange Rate Movements: Theory and Evidence
- This report provides a basic framework for understanding how and why exchange rates could respond to a Border-Adjusted Tax (BAT). It first describes a BAT(which does not tax exports) and uses several examples to illustrate how one works. It then summarizes the standard economic theory of how exchange rates should respond to a BAT, as well as the arguments against the theoretical predictions. Finally, this report reviews the existing literature that has empirically investigated the relationship between exchange rates and BAT systems in other countries.
- 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.
- Reform of U.S. International Taxation: Alternatives
- This report describes and assesses the principal prescriptions that have been offered for broad reform of the international system.3 It begins with an overview of current law and 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.
- Patent Boxes: A Primer
- This report looks at several aspects of patent boxes, including their general purpose. In addition, the report looks at the key considerations in designing a patent box, identifies the countries that currently have a patent box, describes the main elements of those boxes, and sheds light on the U.S. industries that would be likely to benefit the most from such a tax subsidy if the United States were to adopt one. The final two sections discuss what is known about the effectiveness of patent boxes and several other policy issues raised by patent boxes. The report is intended to complement a 2016 CRS report on the "expected effectiveness" of patent boxes.
- The Individual Mandate for Health Insurance Coverage: In Brief
- This report provides an overview of the individual mandate, its associated penalty, and the exemptions from the mandate. It discusses the ACA reporting requirements designed, in part, to assist individuals in providing evidence of having met the mandate. The report includes some national- and state-level data on the application of the mandate's penalty in tax year (TY) 2014 and TY2015.
- Corporate Expatriation, Inversions, and Mergers: Tax Issues
- This report discusses corporate inversions and mergers; these actions change the parent company to one based in another country with a low tax rate to avoid paying U.S. corporate taxes. It discusses past attempts and legislation outlawing varying forms of inversion, the most recent regulations issued by the Treasury Department to decrease inversions, and policy options that would remove the incentive for companies to invert.
- Base Erosion and Profit Shifting (BEPS): OECD Tax Proposals
- This report first reviews the basics of international tax rules. It then discusses the various action items organized into Action Item 1, which relates to the digital economy and proposes standards only with respect to VATS; Action Items 2-5, 7, and 8-10, items related primarily to profit shifting; Action Item 5, which relates to harmful tax practices; Action Item 6, regarding tax treaties; and Action Items 11-15, which are primarily administrative in nature.
- Summary of Revenue Act of 1971 as Enacted Into Law
- This report describes the major provisions of the Revenue Act of 1971.
- U.S. Direct Foreign Investment in Manufacturing and the Taxation of U.S. Businesses Abroad
- This report presents and analyzes data and statistics on U.S. direct foreign investment, as well as the taxation of American businesses abroad. In addition, it provides a detailed summary of tax policies in the top fifteen countries for U.S. direct foreign investment.
- History of the Federal Manufacturers Excise Tax on Gasoline
- This report provides a brief history of the manufacturers' excise tax on gasoline and a summary of current tax rates.
- An Analysis of Tax Provisions Affecting Business Investment: Depreciation and the Investment Tax Credit
- This report discusses tax laws related to depreciation and business investment.
- Payroll Taxes: Economic Effects and Legislative Proposals
- This report discusses legislative proposals related to payroll/social security taxes and studies the effects of these taxes on the economy.
- Excess Profits Taxation - Wartime Provisions and Current Proposals in the Energy Crisis
- This report summarizes both the excess profits tax legislation that was enacted or proposed during years of war in the early to mid 20th century and the proposals for excess profits tax legislation from the energy crisis of the late 20th century. In terms of the early to mid 20th century, the author mainly focuses on enacted and proposed legislation from the first and second World Wars, with a brief mention of the Korean and Vietnam Wars. Furthermore, the report summarizes five of the excess profits tax proposals introduced during the energy crisis.
- Estimated Federal Tax Payments By Residents of Individual States Compared to Estimated Federal Outlays in the States, Fiscal Year 1977
- From summary: "This report uses statistical information designed for other purposes to develop interstate comparisons of Federal taxes paid by State residents and Federal funds expended within the State. Emphasis is given to figures showing percentage distributions, per capita data, and State rankings."
- 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.
- Buying American: Protecting U.S. Manufacturing Through the Berry and Kissell Amendments
- This report discusses the Berry and Kissell amendments, two separate but closely-related laws requiring that certain goods purchased by national security agencies be produced in the United States.
- U.S. International Corporate Taxation: Basic Concepts and Policy Issues
- This report provides a general introduction to the basic concepts and issues relevant to the U.S. international corporate tax system. The explanations provided in this report emphasize the underlying concepts of the international tax system and are intended to be as simplified as possible.
- 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.
- Taxpayers with Zero Income Tax Liability: Trends Over Time and Across Income Levels
- This report discusses situations when individuals or households have not paid federal income taxes because their income was below the filing threshold.
- The Internet Tax Freedom Act: In Brief
- This report discusses the Internet Tax Freedom Act (ITFA; P.L. 105-277) enacted in 1998, which implemented a three-year moratorium preventing state and local governments from taxing Internet access, or imposing multiple or discriminatory taxes on electronic commerce.
- Internet Sales and State Taxes: Policy Issues
- This report discusses Internet sales, which do not always include sales and use tax. Customers who do not pay sales or use tax to the vendor are typically required to remit the tax to their home state.
- 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.
- Spending and Tax Expenditures: Distinctions and Major Programs
- This report identifies the largest spending and tax expenditures across eight major categories of federal activity: (1) defense and international affairs; (2) general science, space and technology, natural resources and the environment, and agriculture; (3) commerce and housing, community and regional development, and transportation; (4) education, training, employment, and social services; (5) health, including Medicare; (6) income security; (7) Social Security and veterans' benefits; and (8) administration of justice and general governance.
- The 2003 Tax Cut: Proposals and Issues
- This report provides a brief description of each tax cut proposal, including major proposals offered by the Democrats in both the House and the Senate during 2003. It discusses the distributional affects of the proposals and potential effects on short and long term economic growth.
- Mileage-Based Road User Charges
- This report examines mileage-based user charges as an possible source of highway funding. Federal highway and public transportation programs are funded mainly by taxes on motor fuel that flow into the Highway Trust Fund (HTF). The tax rates, set on a per-gallon basis, have not been raised since 1993, and motor fuel tax receipts have been insufficient to support the transportation programs authorized by Congress since FY2008.
- Frequently Asked Questions Concerning the Federal Income Tax
- This report addresses some of the frequently asked historical, constitutional, procedural, and legal questions concerning the federal income tax.
- Major Tax Issues in the 108th Congress
- This report provides an overview of major tax issues. It begins by describing three aspects of the economic context in which the tax policy debate during 2004 is likely to occur: the general state of the U.S. economy; the position of the federal budget; and the level of taxes in the United States.
- Brownfields Tax Incentive Extension
- This report discusses the brownfields tax incentive, which expires on December 31, 2007. Enacted in 1997, the provision allowed a taxpayer to fully deduct the costs of environmental cleanup in the year the costs were incurred, rather than spreading the costs over a period of years.
- 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.
- Excise Tax on High-Cost Employer-Sponsored Health Coverage: In Brief
- This report provides an overview of the excise tax. The report includes cost estimates for the excise tax and explores the excise tax's relationship with the tax advantages for employer-sponsored health coverage. The information in this report is based on statute and two notices issued by the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS).
- Energy Tax Policy: History and Current Issues
- This report provides historical context regarding energy tax policy and discusses what may lie ahead.
- 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.
- Eligibility and Determination of Health Insurance Premium Tax Credits and Cost-Sharing Subsidies: In Brief
- Certain individuals without access to subsidized health insurance coverage may be eligible for premium tax credits, as established under the Patient Protection and Affordable Care Act (ACA; P.L. 111-148, as amended). This report examines these tax credits and their eligibility requirements, as well as cost-sharing subsidies.
- Energy Tax Policy
- This report discusses the history, current posture, and outlook for federal energy tax policy. It also discusses recent energy tax proposals, focusing on the major energy tax provisions that were debated as part of omnibus energy legislation in the 108th Congress (e.g., H.R. 6), which may be reintroduced in the 109th Congress.