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 Collection: Congressional Research Service Reports
Individual Retirement Accounts (IRAs): Issues and Proposed Expansion

Individual Retirement Accounts (IRAs): Issues and Proposed Expansion

Date: March 11, 2003
Creator: Gravelle, Jane G
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Economic Analysis of the Charitable Contribution Deduction for Non-Itemizers

Economic Analysis of the Charitable Contribution Deduction for Non-Itemizers

Date: February 28, 2003
Creator: Gravelle, Jane G
Description: 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.
Contributing Partner: UNT Libraries Government Documents Department
Fact Sheet on Congressional Tax Proposals in the 108th Congress

Fact Sheet on Congressional Tax Proposals in the 108th Congress

Date: February 28, 2003
Creator: Richards, Don C
Description: After passing a major multi-year tax cut in Mid-2001 (which was sunsetted after ten years) and a stimulus bill in 2002, Congress is considering energy tax subsidies, tax incentives for charitable giving deductions, pension diversification in the wake of the ENRON problems, and tax shelters. The House has passed several bills that would make the multiyear tax cut permanent as well as a bill to speed up certain provisions.
Contributing Partner: UNT Libraries Government Documents Department
Tax Incentives for Charity: An Overview of Legislative Proposals

Tax Incentives for Charity: An Overview of Legislative Proposals

Date: February 28, 2003
Creator: Gravelle, Jane G
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Retirement Plans with Individual Accounts: Federal Rules and Limits

Retirement Plans with Individual Accounts: Federal Rules and Limits

Date: February 27, 2003
Creator: Storey, James R & Graney, Paul J
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Energy Tax Policy

Energy Tax Policy

Date: February 21, 2003
Creator: Lazzari, Salvatore
Description: Omnibus energy legislation (H.R. 4) that is now in conference would expand energy tax incentives significantly. The House passed the bill on August 2, 2001, and the Senate approved its version April 25, 2002. Several energy tax issues are addressed in these bills: 1) tax incentives to increase the supply of oil and gas, and the demand for coal; 2) energy tax issues relating to energy conservation and energy efficiency; 3) energy tax issues relating to alternative fuels; 4) selected issues relating to electricity restructuring; and 5) expiring energy tax provisions.
Contributing Partner: UNT Libraries Government Documents Department
Flat Tax Proposals and Fundamental Tax Reform: An Overview

Flat Tax Proposals and Fundamental Tax Reform: An Overview

Date: February 21, 2003
Creator: Bickley, James M
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Tax Benefits for Health Insurance: Current Legislation

Tax Benefits for Health Insurance: Current Legislation

Date: February 6, 2003
Creator: Lyke, Bob & Sroka, Christopher J
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Major Tax Issues in the 108th Congress

Major Tax Issues in the 108th Congress

Date: February 3, 2003
Creator: Brumbaugh, David L
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Estate and Gift Taxes: Economic Issues

Estate and Gift Taxes: Economic Issues

Date: January 31, 2003
Creator: Gravelle, Jane G. & Maguire, Steven
Description: This report discusses how the estate and gift tax works and examines various policy options. The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) repeals the estate tax after 2009. In the 108th Congress, some policymakers have proposed eliminating the sunset provision in the EGTRRA, thus making repeal of the estate tax permanent.
Contributing Partner: UNT Libraries Government Documents Department
The Alternative Minimum Tax for Individuals

The Alternative Minimum Tax for Individuals

Date: January 30, 2003
Creator: Esenwein, Gregg A
Description: This report provides a brief overview of the alternative minimum tax (AMT) for individuals, discusses the issues associated with the current system, and describes current legislation to amend the AMT. The report will be updated as legislative action warrants.
Contributing Partner: UNT Libraries Government Documents Department
Export Tax Benefits and the WTO: Foreign Sales Corporations and the Extraterritorial Replacement Provisions

Export Tax Benefits and the WTO: Foreign Sales Corporations and the Extraterritorial Replacement Provisions

Date: January 30, 2003
Creator: Brumbaugh, David L
Description: The U.S. tax code’s Foreign Sales Corporation (FSC) provisions provided a tax benefit for U.S. exporters. However, the European Union (EU) in 1997 charged that the provision was an export subsidy and thus contravened the World Trade Organization (WTO) agreements. A WTO ruling upheld the EU complaint, and to avoid WTO sanctioned retaliatory tariffs, U.S. legislation in November 2000 replaced FSC with the “extraterritorial income” (ETI) provisions, consisting of a redesigned export tax benefit of the same magnitude as FSC. The EU maintained that the new provisions are also not WTO-compliant and asked the WTO to rule on the matter.
Contributing Partner: UNT Libraries Government Documents Department
Firms That Incorporate Abroad for Tax Purposes: Corporate "Inversions" and "Expatriation"

Firms That Incorporate Abroad for Tax Purposes: Corporate "Inversions" and "Expatriation"

Date: January 30, 2003
Creator: Brumbaugh, David L
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Marriage Tax Penalty Relief Provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001

Marriage Tax Penalty Relief Provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001

Date: January 30, 2003
Creator: Esenwein, Gregg A
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Social Security: Raising or Eliminating the Taxable Earnings Base

Social Security: Raising or Eliminating the Taxable Earnings Base

Date: January 30, 2003
Creator: Kollmann, Geoffrey
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Tax Cuts and Economic Stimulus: How Effective Are the Alternatives?

Tax Cuts and Economic Stimulus: How Effective Are the Alternatives?

Date: January 30, 2003
Creator: Gravelle, Jane G
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Using Business Tax Cuts to Stimulate the Economy

Using Business Tax Cuts to Stimulate the Economy

Date: January 30, 2003
Creator: Gravelle, Jane G
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Economic and Revenue Effects of Permanent and Temporary Capital Gains Tax Cuts

Economic and Revenue Effects of Permanent and Temporary Capital Gains Tax Cuts

Date: January 29, 2003
Creator: Gravelle, Jane G
Description: Recent proposals have been made to enact either a temporary or a permanent capital gains tax cut. The former would probably gain revenue in the first 2 years but lose that revenue and more, most likely within the following 3 years. H.R. 3090, passed by the House, would lower the top tax rate from 20% to 18% for assets held at least a year. The Senate Finance Committee version of H.R. 3090, does not reduce capital gains taxes. A capital gains tax cut appears the least likely of any permanent tax cut to stimulate the economy in the short run; a temporary capital gains tax cut is unlikely to provide any stimulus. Permanently lower capital gains taxes can contribute to economic efficiency in some ways and detract from it in others. Capital gains tax cuts would favor high income individuals, with about 80% of the benefit going to the top 2% of taxpayers.
Contributing Partner: UNT Libraries Government Documents Department
Economic Issues Surrounding the Estate and Gift Tax: A Brief Summary

Economic Issues Surrounding the Estate and Gift Tax: A Brief Summary

Date: January 29, 2003
Creator: Gravelle, Jane G
Description: Supporters of the estate and gift tax argue that it provides progressivity in the federal tax system, provides a backstop to the individual income tax and appropriately targets assets that are bestowed on heirs rather than assets earned through their hard work and effort. However, progressivity can be obtained through the income tax and the estate and gift tax is an imperfect backstop to the income tax. Critics argue that the tax discourages savings, harms small businesses and farms, taxes resources already subject to income taxes, and adds to the complexity of the tax system.
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 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
Flat Tax Proposals and Fundamental Tax Reform: An Overview

Flat Tax Proposals and Fundamental Tax Reform: An Overview

Date: January 29, 2003
Creator: Bickley, James M
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Tax Incentives for Charity: An Overview of Legislative Proposals

Tax Incentives for Charity: An Overview of Legislative Proposals

Date: January 29, 2003
Creator: Gravelle, Jane G
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Value-Added Tax as a New Revenue Source

Value-Added Tax as a New Revenue Source

Date: January 29, 2003
Creator: Bickley, James M
Description: None
Contributing Partner: UNT Libraries Government Documents Department