Congressional Research Service Reports - 31 Matching Results

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State Taxation of Internet Transactions

Description: This report intends to clarify significant issues in the remote sales tax collection debate, beginning with a description of state and local sales and use taxes. Congress has a role in this issue because interstate commerce, in most cases, falls under the Commerce Clause of the Constitution.
Date: April 19, 2013
Creator: Maguire, Steven
Partner: UNT Libraries Government Documents Department
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Residential Energy Tax Credits: Overview and Analysis

Description: This report discusses current residential energy tax credits, options to extend or modify them, and an analysis of their effectiveness.
Date: April 9, 2018
Creator: Crandall-Hollick, Margot L. & Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department
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2001 Tax Cut: Description, Analysis, and Background

Description: A major tax cut, H.R. 1836, was enacted in June 2001, but contained sunsetted provisions. The House will consider, the week of April 15, making those tax provisions permanent. This report summarizes the provisions of the bill, analyzes effects, and considers the development of the legislation.
Date: April 12, 2002
Creator: Brumbaugh, David L.; Gravelle, Jane G.; Maguire, Steven; Talley, Louis Alan & Lyke, Bob
Partner: UNT Libraries Government Documents Department
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Selected Recently Expired Business Tax Provisions ("Tax Extenders")

Description: This report briefly summarizes and discusses the economic impact of selected business-related tax provisions that expired at the end of 2013 and that are being considered for extension.
Date: April 30, 2014
Creator: Gravelle, Jane G.; Marples, Donald J. & Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department
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Federal Excise Taxes on Tobacco Products: Rates and Revenues

Description: This report examines increases in excise tax rates on tobacco products contained in the Balanced Budget Act of 1997 (P.L. 105-33). Under that act, the increased rates on tobacco products became effective in two stages. The first scheduled increase in rates occurred on January 1, 2000, while the second increase in rates occurred two years later on January 1, 2002
Date: April 28, 2005
Creator: Talley, Louis Alan
Partner: UNT Libraries Government Documents Department
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The Internet Tax Freedom Act: In Brief

Description: 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.
Date: April 13, 2016
Creator: Stupak, Jeffrey M.
Partner: UNT Libraries Government Documents Department
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Expired and Expiring Temporary Tax Provisions ("Tax Extenders")

Description: This report discusses dozens of temporary tax provisions that expired at the end of 2013, and several other temporary tax provisions that are scheduled to expire at the end of 2014.
Date: April 7, 2014
Creator: Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department
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Tax Incentives for Opportunity Zones: In Brief

Description: This report discusses tax incentives for opportunity zones (OZ) which are low-income areas selected by state governors for revitalization efforts. This report briefly describes what census tracts are eligible to be nominated as an OZ by the "chief executive officer" (typically, the governor) of each state or territory, what types of entities can be certified as Qualified Opportunity Funds (QOFs), and the tax benefits of investments in QOFs.
Date: April 5, 2018
Creator: Lowry, Sean & Marples, Donald J.
Partner: UNT Libraries Government Documents Department
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The Earned Income Tax Credit (EITC): An Overview

Description: This report provides an overview of the Earned Income Tax Credit (EITC), first discussing eligibility requirements for the credit, followed by how the credit is computed and paid. The report then provides data on the growth of the EITC since it was first enacted in 1975. Finally the report concludes with data on the EITC claimed on 2015 tax returns, examining EITC claims by number of qualifying children, income level, tax filing status, and location of residence.
Date: April 18, 2018
Creator: Falk, Gene & Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
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Higher Education Tax Benefits: Brief Overview and Budgetary Effects

Description: This report provides a brief overview of the higher education tax benefits that are currently available to students and their families. These tax benefits can be divided into three groups: incentives for current year expenses, incentives for preferential tax treatment of student loan expenses, and incentives for saving for college.
Date: April 16, 2018
Creator: Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
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Economic Analysis of the Charitable Contribution Deduction for Non-Itemizers

Description: The 107th Congress version of (H.R. 7), passed by the House, had eight new tax provisions designed to benefit charities and charitable giving, the most important one being the charitable deduction for non-itemizers.This report focuses on the economic effect of the deduction for nonitemizers, assessing the incentive such deductions would create for increased charitable giving.
Date: April 29, 2005
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
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Estate Tax Options

Description: After a brief description of the estate and gift tax and of options, this report compares the alternatives, focusing largely on a $1 million exemption and 55% rate, a $3.5 million exemption and a 45% rate, and a $5 million exemption and a 35% rate. Several policy effects and issues are analyzed: the share of decedents subject to tax, revenue effects, distributional effects, and effects on savings, charitable contributions, and compliance and administration. The report also considers other aspec… more
Date: April 23, 2010
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
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Tax Gap: Administration Proposal to Require Information Reporting on Merchant Payment Card Reimbursements

Description: The high current and forecast budget deficits as well as pay-as-you-go (PAYGO) procedures have resulted in congressional and executive branch interest in raising additional revenue through proposals for improved tax compliance. The Bush Administration’s FY2009 budget includes a proposal (the proposal) to require each payment card processor to inform the IRS on the net dollar amount paid to reimburse each merchant (i.e., seller) for his payment card receipts in a calendar year. Payment cards con… more
Date: April 28, 2008
Creator: Bickley, James M.
Partner: UNT Libraries Government Documents Department
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The Earned Income Tax Credit (EITC): An Overview

Description: This report discusses the earned income tax credit (EITC), established in the tax code in 1975, which offers cash aid to working parents with relatively low incomes who care for dependent children.
Date: April 3, 2014
Creator: Scott, Christine & Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
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"Amazon Laws" and Taxation of Internet Sales: Constitutional Analysis

Description: This report focuses on the ways in which the states' efforts to impose requirements on out-of-state retailers are limited by the Constitution. The report discusses recent state legislation as well as legislation introduced in the two most recent Congresses.
Date: April 3, 2013
Creator: Lunder, Erika K. & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department
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The Retirement Savings Tax Credit: A Fact Sheet

Description: This report discusses the saver's tax credit, under which eligible individuals receive a non-refundable tax credit of up to $1,000 for contributing to a traditional IRA or an employer-sponsored retirement plan that is qualified under §401, §403 or §457 of the Internal Revenue Code. The credit was first available in 2002 but will expire after 2006 unless extended by Congress.
Date: April 1, 2004
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department
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Energy Tax Policy: Issues in the 112th Congress

Description: The economic rationale for interventions in energy markets helps inform the debate surrounding energy tax policy. This report begins by providing background on the economic rationale for energy market interventions, highlighting various market failures. After identifying possible market failures in the production and consumption of energy, possible interventions are discussed. The report concludes with an analysis of energy tax policy as it stands at the start of the 112th Congress.
Date: April 14, 2011
Creator: Sherlock, Molly F. & Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
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Energy Tax Policy: Issues in the 112th Congress

Description: The economic rationale for interventions in energy markets helps inform the debate surrounding energy tax policy. This report begins by providing background on the economic rationale for energy market interventions, highlighting various market failures. After identifying possible market failures in the production and consumption of energy, possible interventions are discussed. The report concludes with an analysis of energy tax policy as it stands at the start of the 112th Congress.
Date: April 14, 2011
Creator: Sherlock, Molly F. & Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
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Social Security Taxes: Where Do Surplus Taxes Go and How Are They Used?

Description: The costs of the Social Security program, both its benefits and administrative expenses, are financed by a tax on wages and self-employment income. Commonly referred to as FICA and SECA taxes (because they are levied under the Federal Insurance and Self-Employment Contributions Acts), these taxes flow each day into thousands of depository accounts maintained by the government with financial institutions across the country. Along with many other forms of revenues, these Social Security taxes bec… more
Date: April 29, 1998
Creator: Koitz, David Stuart
Partner: UNT Libraries Government Documents Department
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Conservation Reserve Program Payments: Self-Employment Income, Rental Income, or Something Else?

Description: This report outlines the history of the Conservation Reserve Program (CRP), the changing positions of the Internal Revenue Service (IRS), pertinent case law, and other provisions of the Internal Revenue Code (IRC). Several possible approaches to the taxation of CRP payments are discussed.
Date: April 14, 2008
Creator: Pettit, Carol A.
Partner: UNT Libraries Government Documents Department
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