Congressional Research Service Reports - 694 Matching Results

Search Results

"Amazon Laws" and Taxation of Internet Sales: Constitutional Analysis

Description: As more purchases are made over the Internet, states are looking for new ways to collect taxes on online sales. There is a common misperception that the U.S. Constitution prohibits states from taxing Internet sales. This report discusses "Amazon laws", which try to capture uncollected taxes on Internet sales and yet still comply with the Constitution's requirements.
Date: November 28, 2014
Creator: Lunder, Erika K. & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

Overview of the Federal Tax System

Description: The major sources of federal tax revenue are individual income taxes, Social Security and other payroll taxes, corporate income taxes, excise taxes, and estate and gift taxes. This report describes the federal tax structure, provides some statistics on the tax system as a whole, and presents analysis of selected tax concepts.
Date: November 21, 2014
Creator: Sherlock, Molly F. & Marples, Donald J.
Partner: UNT Libraries Government Documents Department

Federal Proposals to Tax Marijuana: An Economic Analysis

Description: This report focuses solely on issues surrounding a potential federal marijuana tax. First, it provides a brief overview of marijuana production. Second, it presents possible justifications for taxes and, in some cases, estimates the level of tax suggested by that rationale. Third, it analyzes possible marijuana tax designs. The report also discusses various tax administration and enforcement issues, such as labeling and tracking.
Date: November 13, 2014
Creator: Gravelle, Jane G. & Lowry, Sean
Partner: UNT Libraries Government Documents Department

Federal Deductibility of State and Local Taxes

Description: This report provides a brief history of deductible state and local taxes, and discusses deduction for real estate property taxes, deductions for income, sales, and use taxes. The report also discusses policy alternatives and current legislation.
Date: November 10, 2014
Creator: Maguire, Steven & Stupak, Jeffrey M.
Partner: UNT Libraries Government Documents Department

An Introduction to the Low-Income Housing Tax Credit

Description: This report discusses the low-income housing tax credit (LIHTC) program, which is one of the federal government’s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These non-refundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities.
Date: November 7, 2014
Creator: Keightley, Mark P. & Stupak, Jeffrey M.
Partner: UNT Libraries Government Documents Department

The Medical Device Excise Tax: Economic Analysis

Description: This report reviews the issues surrounding the medical devices tax within the framework of basic principles surrounding the choice of commodities to tax under excise taxes. The next section describes the tax and its legislative origins. After that, the report analyzes the arguments for retaining and repealing the tax.
Date: November 3, 2014
Creator: Gravelle, Jane G. & Lowry, Sean
Partner: UNT Libraries Government Documents Department

Recently Expired Community Assistance Related Tax Provisions ("Tax Extenders"): In Brief

Description: This report briefly summarizes four community assistance-related tax provisions included in the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, which are the New Markets Tax Credit, Empowerment Zone Tax Incentives, allocation of bond limitations for Qualified Zone Academy Bonds, and the American Samoa Economic Development Credit. The EXPIRE Act would extend each of these provisions for two years (through 2015). A discussion of their economic impact and related extension bills in the 113th Congress is also included.
Date: October 21, 2014
Creator: Lowry, Sean
Partner: UNT Libraries Government Documents Department

Recently Expired Charitable Tax Provisions ("Tax Extenders"): In Brief

Description: This report discusses the four charitable tax provisions are discussed in this report: the enhanced charitable deduction for contributions of food inventory; tax-free distributions from individual retirement accounts for charitable purposes; basis adjustment to stock of S corporations making charitable contributions of property; and special rules for contributions of capital gain real property for conservation purposes.
Date: October 17, 2014
Creator: Gravelle, Jane G. & Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department

Corporate Expatriation, Inversions, and Mergers: Tax Issues

Description: This report begins with a brief discussion of relevant portions of the U.S. corporate income tax system before examining how inversions were commonly structured. The report then looks at how Congress and Department of the Treasury have reduced the benefits of inversions. The report concludes with an examination of methods that remain to invert and policy options available to prevent or limit these inversions.
Date: September 3, 2014
Creator: Marples, Donald J. & Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department

The American Opportunity Tax Credit: Overview, Analysis, and Policy Options

Description: This report provides both an in-depth description of this tax credit and an analysis of its economic impact. This report is organized to first provide an overview of the American Opportunity Tax Credit (AOTC), followed by a legislative history that highlights the evolution of education tax credits from proposals in the 1960s through the recent extension of the AOTC at the end of 2012. This report then analyzes the credit by looking at who claims the credit, the effect education tax credits have on increasing college attendance, and administrative issues with the AOTC. Finally, this report concludes with a brief overview of various policy options, including tax law changes proposed in Chairman Camp's tax reform bill3 and in the President's FY2015 budget request.
Date: July 10, 2014
Creator: Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department

Dynamic Scoring for Tax Legislation: A Review of Models

Description: This report first explains dynamic scoring, including the types of effects incorporated and the types of models used, as well as what groups conduct or have conducted macroeconomic analysis of tax changes. The following section discusses the specific issues associated with tax reform. The final section discusses general issues surrounding the use of various models and reviews the empirical evidence on supply side responses.
Date: June 8, 2014
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department

Estate and Gift Taxes for Nonresident Aliens

Description: This report explains the major provisions of the federal estate and gift transfer taxes for transfers by nonresident aliens in 2014. This discussion highlights the different tax rules for estates of nonresident aliens as compared to the estates of U.S. citizens and resident aliens.
Date: June 2, 2014
Creator: Lanza, Emily M.
Partner: UNT Libraries Government Documents Department

Recently Expired Community Assistance Related Tax Provisions ("Tax Extenders"): In Brief

Description: This report briefly summarizes four community assistance-related tax provisions included in the EXPIRE Act, which are (1) the New Markets Tax Credit, (2) Empowerment Zone Tax Incentives, (3) allocation of bond limitations for Qualified Zone Academy Bonds, and (4) the American Samoa Economic Development Credit.
Date: May 22, 2014
Creator: Lowry, Sean
Partner: UNT Libraries Government Documents Department

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

Restrictions on Itemized Tax Deductions: Policy Options and Analysis

Description: This report analyzes various proposals to restrict itemized deductions--both across-the-board and individually tailored--using standard economic criteria of economic efficiency, distribution, simplicity, and estimated revenue effects. In particular, this report estimates each proposal's potential to contribute to revenue-neutral reductions in income tax rates and the consequences for economic behavior.
Date: March 10, 2014
Creator: Gravelle, Jane G. & Lowry, Sean
Partner: UNT Libraries Government Documents Department

Taxation of Unemployment Benefits

Description: Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Date: March 6, 2014
Creator: Whittaker, Julie M.
Partner: UNT Libraries Government Documents Department

PILT (Payments in Lieu of Taxes): Somewhat Simplified

Description: This report explains Payments in Lieu of Taxes (PILT), with an analysis of the five major factors affecting the calculation of a payment to a given county. It also describes the effects of certain legislative changes to PILT in 2009 and 2012.
Date: February 20, 2014
Creator: Corn, M. Lynne
Partner: UNT Libraries Government Documents Department