Congressional Research Service Reports - 531 Matching Results
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- The Flat Tax, Value-Added Tax, and National Retail Sales Tax: Overview of the Issues
- The current income tax system is criticized for costly complexity and damage to economic efficiency. Reform suggestions have proliferated, including a national retail sales tax, several versions of a value-added tax (VAT), the much-discussed “Flat Tax” on consumption (the “Hall-Rabushka” tax), the “USA” proposal for a direct consumption tax, and revisions of the income tax. The President has indicated that major tax reform will be a priority item in his second term.
- The Work Opportunity Tax Credit (WOTC) and the Welfare-to-Work (WtW) Tax Credit
- The Work Opportunity Tax Credit and Welfare-to-Work Tax Credit are temporary provisions of the Internal Revenue Code. Since their initiation in the mid-1990s, the Congress has allowed the credits to lapse four of the five times they were up for reauthorization. In each instance, they were reinstated retroactive to their expiration dates as part of large tax-related measures. The employment tax credits never have been addressed independently of broader legislation. This report describes the WOTC and WtW Tax Credit and outlines issues for members of Congress.
- List of Temporary Tax Provisions: "Extenders" Expiring in 2005
- Several temporary tax provisions will expire this year. Often referred to as “extenders,” these provisions were originally enacted with an expiration date that may well be extended. Several have been extended numerous times in the past, sometimes after their expiration date. The extenders provide special tax treatment for certain types of activities and investment and benefit both individuals and corporations. They occur in a variety of policy areas including wage credits to support employment of certain populations; excise taxes on fuel, tires, and other commodities; energy production incentives; deductions for charitable contributions; special depreciation allowances; and many others.
- Small Business Tax Benefits: Overview and Economic Analysis
- No Description Available.
- Federal Tax Benefits for Families' K-12 Education Expenses in the Context of School Choice
- This report provides information about the Federal Tax Benefits for Families' K-12 Education Expenses in the Context of School Choice. Some believe that comprehensive school reform is needed to improve the quality of secondary and elementary education.
- Federal Tax Benefits for Families' K-12 Education Expenses in the Context of School Choice
- This report provides information about the Federal Tax Benefits for Families' K-12 Education Expenses in the Context of School Choice. Some believe that comprehensive school reform is needed to improve the quality of secondary and elementary education.
- Improving Access to Long-Term Care Act of2002
- No Description Available.
- Flat Tax Proposals and Fundamental Tax Reform: An Overview
- This report discusses the idea of replacing our current income tax system with a flat-rate tax, including background and analysis and various Congressional proposals.
- The First-Time Homebuyer Tax Credit
- No Description Available.
- Alternative Minimum Taxpayers By State: 2003, 2004, and Projections for 2007
- This report describes the Alternative Minimum Tax (AMT), specifically the number of people affected in the years 2004-2007.
- The Alternative Minimum Tax (AMT): Income Entry Points and “Take Back” Effects
- This report describes how the Alternative Minimum Tax (AMT) is ineffective under the tax reductions of 2004-2007.
- The Alternative Minimum Tax for Individuals: Legislative Initiatives and Their Revenue Effects
- This report describes the Alternative Minimum Tax (AMT), specifically revenue effects of modifying AMT and Legislative Initiatives.
- The Alternative Minimum Tax for Individuals: Legislative Initiatives in the 109th Congress
- This report describes the Alternative Minimum Tax (AMT), specifically revenue effects of modifying the AMT and Legislative Initiatives.
- Using Business Tax Cuts to Stimulate the Economy
- This report discusses issues associated with the use of business tax subsidies. First, is fiscal policy appropriate? Second, how successful are subsidies likely to be and what form might they take to be most effective? Finally, what other consequences might flow from the use of business tax subsidies, especially if they are to be permanent?
- Pensions: Major Provisions of the Retirement Security and Savings Act of 2000
- No Description Available.
- Flat Tax Proposals and Fundamental Tax Reform: An Overview
- This report discusses the idea of replacing our current income tax system with a flat-rate tax, including background and analysis and various Congressional proposals.
- Federal Taxation of Student Aid: An Overview
- This report summarizes the current rules regarding federal taxation of financial aid for students enrolled in colleges, universities, and other postsecondary educational institutions.
- Energy Tax Incentives: A Comparison of the Senate Finance Committee Bill (S.1149) and the House Bill (H.R.6)
- The 108th Congress is considering two major bills to provide tax incentives to increase the supply of, and reduce the demand for, fossil fuels and electricity: S.1149, the Energy Tax Incentives Act of 2003, approved by the Senate Finance Committee (SFC) on April 2, 2003 (superseding S. 597), and H.R. 6, introduced as H.R. 1531 and approved by the House on April 11, 2003, by a vote of 247-175.
- Small Business Tax Preferences: Legislative Proposals in the 108th Congress
- No Description Available.
- Flat Tax Proposals and Fundamental Tax Reform: An Overview
- This report discusses the idea of replacing our current income tax system with a flat-rate tax, including background and analysis and various Congressional proposals.
- Social Security and Medicare Taxes and Premiums: Fact Sheet
- No Description Available.
- Flat Tax Proposals and Fundamental Tax Reform: An Overview
- This report discusses the idea of replacing our current income tax system with a flat-rate tax, including background and analysis and various Congressional proposals.
- Using Business Tax Cuts to Stimulate the Economy
- No Description Available.
- Social Security and Medicare Taxes and Premiums: Fact Sheet
- No Description Available.
- Flat Tax Proposals and Fundamental Tax Reform: An Overview
- This report discusses the idea of replacing our current income tax system with a flat-rate tax, including background and analysis and various Congressional proposals.
- Flat Tax Proposals and Fundamental Tax Reform: An Overview
- This report discusses the idea of replacing our current income tax system with a flat-rate tax, including background and analysis and various Congressional proposals.
- Using Business Tax Cuts to Stimulate the Economy
- No Description Available.
- 527 Organizations: How the Differences in Tax and Election Laws Permit Certain Organizations to Engage in Issue Advocacy without Public Disclosure and Proposals for Change
- This report compares the tax and election laws relating to political organizations and political committees prior to the enactment of P.L. 106-230 in an attempt to highlight the differences between them, and discusses some of the proposals in the 106th Congress to require additional reporting by organizations engaging in political activities. This report does not address the taxation of other tax-exempt organizations making political expenditures taxable under IRC § 527. For developments after the enactment of P.L. 106-230, please see CRS Report RS20650, 527 Organizations: Reporting Requirements Imposed on Political Organizations after the Enactment of P.L. 106-230.
- Tax-Exempt Organizations: Political Activity Restrictions and Disclosure Requirements
- No Description Available.
- Individual Accounts: What Rate of Return Would They Earn?
- It has been proposed to add individual accounts to Social Security in which investors could hold private securities. Calculations that project the earnings of individual accounts typically presume that they will earn a rate of return equal or close to the historical rate of return. But is there evidence that future rates of return will differ from history in predictable ways?
- State Unemployment Taxes and SUTA Dumping
- This report provides a summary of the State Unemployment Tax Acts (SUTA) Dumping Prevention Act of 2004, P.L. 108-295. The term "SUTA dumping" refers to a variety of tax planning strategies used by employers to minimize the tax burden of federally mandated state unemployment taxes.
- Tax Expenditures and the Federal Budget
- This report discusses tax expenditures, the federal budget and the reform of the federal tax system and provides tax expenditure analysis. The perception that the federal tax system is too complex and unfair could lead to public support for tax reform. Past efforts to reform the federal tax system have included policies to rein in the use and expense of tax expenditures--the special deductions, exclusions, exemptions, and credits resulting in revenue losses.
- Revenue Legislation in the Congressional Budget Process
- This report discusses revenue legislation, which may include changes to individual and corporate income taxes, social insurance taxes, excise taxes, or tariffs and duties. Congressional consideration of revenue legislation is governed by various constitutional provisions and procedural rules.
- Individual Retirement Accounts (IRAs): Legislative Issues in the 106th Congress
- Bills introduced in the 106th Congress would have raised the limit on contributions to individualretirement accounts(IRAs) and eased other federal IRA rules. The House passed H.R. 5203, incorporating the higher IRA contribution limits of H.R.1102, on September 19, 2000. The IRA provisions of the bill would have cost $21.7 billion in foregone revenue over 10 years. The Senate Finance Committee ordered H.R. 1102 reported (with amendments) on September 7, 2000, but the bill did not reach the Senate floor before the 106th Congress adjourned in December 2000. The Finance Committee’s bill, in addition to raising contribution limits, would have allowed tax credits in lieu of deductions for a portion of IRA contributions.
- Tax Benefits for Education in the Taxpayer Relief Act of 1997: New Legislative Developments
- No Description Available.
- Economic Issues Surrounding the Estate and Gift Tax: A Brief Summary
- 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.
- Government Spending or Tax Reduction: Which Might Add More Stimulus to the Economy?
- This report provides discusses about Government Spending or Tax Reduction and check which adds more Stimulus to the Economy. This report also consider that issues in the context of conventional economic analysis.
- Tax Treatment of Employer Educational Assistance for the Benefit of Employees
- Educational assistance offered by employers to their employees may be exempt from federal income tax under Section 127 and Section 132 of the Internal Revenue Code. Section 127 is the employer educational assistance exclusion; Section 132, the fringe benefit exclusion for working condition benefits (e.g., job-related eduction) among other benefits. Congress established the two tax provisions well before it enacted to her higher education tax benefits meant to assist taxpayers, their spouses, and dependents -- regardless of employment status -- pay current educational expenses incurred while obtaining postsecondary degrees and undertaking lifelong learning.
- Tax Benefits for Education in the Taxpayer Relief Act of 1997: New Legislative Developments
- No Description Available.
- Anti-Tax-Shelter and Other Revenue-Raising Tax Proposals Considered in the 108th Congress
- Several bills introduced in the 108th Congress included revenue-raising provisions, particularly those aimed at tax shelters that are generally used by corporations. In 2003, anti-sheltering provisions were included in several bills. This report is an overview of the revenue-raising provisions in the original reported versions of H.R. 2896 and S. 1637 and the final anti-sheltering bill as enacted.
- Hurricane Katrina: The Response by the Internal Revenue Service
- After Hurricane Katrina, the Internal Revenue Service (IRS) announced several tax relief measures to aid affected individuals and businesses. They cover a range of subjects, from postponing deadlines for paying taxes and filing returns for individuals, employee benefit plans and tax-exempt bond issuers, to waiving penalties for certain fuel excise taxes. This report summarizes these measures and discusses the statutory authority for the IRS’s actions.
- Economic Issues Surrounding the Estate and Gift Tax: A Brief Summary
- 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.
- Government Spending or Tax Reduction: Which Might Add More Stimulus to the Economy?
- This report provides discusses about Government Spending or Tax Reduction and check which adds more Stimulus to the Economy. This report also consider that issues in the context of conventional economic analysis.
- Charitable Contributions of Food Inventory: Proposals for Change
- Early in the 109th Congress, both S. 6, the Family and Community Protection Act of 2005, and S. 94, the Good Samaritan Hunger Relief Tax Incentive Act, have been introduced to encourage gifts of food by businesses for charitable purposes. While current law provides a deduction only to C corporations, these bills would expand the tax break to all business entities. The value of the existing deduction is the corporation’s basis in the donated product plus one half of the amount of appreciation, as long as that amount is less than twice the corporation’s basis in the product.
- Capital Gains Taxes: An Overview
- This report gives an overview of Capital Ganis taxes. It also reports its history, how are they taxes, revenue effects, impact, and issues.
- Charitable Choice Provisions of H.R. 7
- H.R. 7, the Community Solutions Act, on July 19 won House passage without amendment by a vote of 233-198. The bill includes basic elements of President Bush’s faith-based initiatives: tax incentives for private giving–scaled back from original proposals (Title I)–and expansion of charitable choice (Title II). (Title III deals with individual development accounts.)
- Pensions and Retirement Saving Plans: Comparison of H.R. 1776 with Current Law
- No Description Available.
- Tax Policy Options After Hurricane Katrina
- No Description Available.
- Federal Farm Promotion ("Check-off") Programs
- The U.S. Supreme Court in 2005 affirmed the constitutionality of the so-called beef check-off program, one of the 18 generic promotion programs for agricultural products that are now active nationally. Supporters view check-offs as economically beneficial self-help activities that need minimal government involvement or taxpayer funding. Producers, handlers, and/or importers are required to pay an assessment, usually deducted from revenue at time of sale - thus the name check-off. However, some farmers contend they are being "taxed" for advertising and related activities they would not underwrite voluntarily. The Supreme Court's decision to uphold the beef check-off is considered significant for the future of the other programs, although the Court left open the possibility of additional challenges.
- Funding School Renovation: Qualified Zone Academy Bonds vs. Traditional Tax-Exempt Bonds
- Congressional Research Service (CRS) report entailing information about Qualified Zone Academy Bonds vs. traditional tax-exempt bonds in regards to funding school renovations. The report goes over the side effects of the $1.6 billion Qualified Zone Academy Bond (QZAB), like revenue loss. Tables begin on page 4, and the report ends with a summary concluding that the QZAB program is more beneficial to tax payers and borrowers than traditional tax-exempt municipal bonds.