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Estate and Gift Taxes: Economic Issues

Description: The unified estate and gift tax is levied on the transfer of assets that occurs when someone dies or gives a gift. Filing an estate tax return can be difficult depending on the value and complexity of the estate. The purpose here is to outline the mechanics of the estate and gift tax. The first section begins with a brief review of the general rules accompanied with a numerical example. There are some minor provisions of the law that are not discussed here, however, such as the phase out of the graduated rates and the credit for taxes on property recently transferred. The second section summarizes the special rules for farms and small businesses. And, the final section briefly describes the generation skipping transfer tax. The appendix of this report provides detailed data from returns filed in 2005, the latest year for which data are available.
Date: March 19, 2008
Creator: Marples, Donald J. & Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department

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

Aviation Taxes and the Airport and Airway Trust Fund

Description: This report discusses the reauthorization of excise tax revenues for the airport and airway trust fund, which has been a contentious issue for the last two years. Most of the concern during this period was about future funding needs for the Federal Aviation Administration (FAA). The issue, somewhat unexpectedly, became an element of the tax plans embedded in House and Senate FY1998 budget reconciliation proposals. The House proposed a major structural change in how aviation taxes would be imposed.
Date: August 12, 1997
Creator: Fischer, John W.
Partner: UNT Libraries Government Documents Department

Internet Tax Bills in the 105th Congress

Description: This report tracks the evolution and content of the Internet tax freedom bills. In general, the bills would impose a federal moratorium on the ability of state and local governments to impose taxes on certain aspects of the Internet and would establish a temporary federal commission to study selected issues and make policy recommendations.
Date: August 21, 1998
Creator: Noto, Nonna A.
Partner: UNT Libraries Government Documents Department

Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

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. The federal estate tax is computed through a series of adjustments and modifications of a tax base known as the "gross estate." Certain allowable deductions reduce the gross estate to the "taxable estate," to which is then added the total of all lifetime taxable gifts made by the decedent. The tax rates are applied and, after reduction for certain allowable credits, the amount of tax owed by the estate is reached.
Date: January 19, 2007
Creator: Luckey, John R.
Partner: UNT Libraries Government Documents Department

Tax Credits for Individual Development Accounts

Description: An individual development account (IDA) is a structured savings instrument for lower income individuals. This report discusses legislation introduced in the 108th Congress to establish IDA programs utilizing tax benefits to encourage program development.
Date: February 8, 2006
Creator: Scott, Christine
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. Legislation was introduced in the 108th Congress that would have repealed the taxation of UC benefits, provided a two-year suspension of the taxation of UC benefits, or transferred the proceeds from taxing UC benefits to the Unemployment Trust Fund. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Date: January 14, 2005
Creator: Scott, Christine
Partner: UNT Libraries Government Documents Department

Tax Issues: National Public Opinion

Description: This report provides a sample of public opinion questions concerning the current tax system, the Internal Revenue Service, and proposals for tax reform. It will be updated as new poll results become available. The report is for the use of Members as they consider legislation currently before the 105 Congress.
Date: May 28, 1998
Creator: Coleman, Kevin
Partner: UNT Libraries Government Documents Department

Tax Code Termination Act: A Fact Sheet

Description: This report discusses the Tax Code Termination Act, which would “sunset” (repeal) the Internal Revenue Code of 1986 on December 31, 2002 and would require that any new federal tax system that is adopted be approved not later than July 4, 2002.
Date: August 12, 1998
Creator: Bickley, James M.
Partner: UNT Libraries Government Documents Department

Tax Returns of Individuals: Statistical Charts for the Five Most Recent Years

Description: This report provides answers to some of the most frequently asked questions concerning the federal individual income tax, including the number of returns filed, average tax per return, and income tax as percentage of adjusted gross income. This report will be updated as the Internal Revenue Service (IRS) releases new or revised statistics.
Date: December 12, 2002
Creator: Solomon, Arnold D.
Partner: UNT Libraries Government Documents Department

Energy Tax Incentives in the 108th Congress: A Comparison of the House and Senate Versions of H.R. 6 and the Senate Finance Committee Amendment

Description: This report discusses energy taxes incentives, which have long been an integral component of this nation’s energy policy. Efforts to significantly expand existing energy tax subsidies have been undertaken since the 106th Congress, but controversy over various non-tax energy policy provisions — corporate average fuel economy standards, the Alaskan National Wildlife Refuge, etc. — have helped stall the legislation.
Date: August 19, 2003
Creator: Lazzari, Salvatore
Partner: UNT Libraries Government Documents Department

Major Tax Issues in the 108th Congress

Description: Tax policy is frequently considered by policymakers as a tool for boosting economic performance in various ways, and the likely economic effects of tax policy are often hotly debated. A brief overview of the current economic context is thus a good starting point for looking at tax issues facing the current Congress. This report provides an overview of major tax issues. The report 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.
Date: September 9, 2004
Creator: Brumbaugh, David L.
Partner: UNT Libraries Government Documents Department

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: September 24, 2012
Creator: Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department

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 the current status of energy tax policy.
Date: March 28, 2012
Creator: Sherlock, Molly F. & Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department

IRS Reform: Innocent Spouse Rule

Description: Married couples filing joint tax returns are liable individually and as a couple for all taxes due on the return with a limited exemption for innocent spouses. This report discusses joint and several liability, which has been the subject of much criticism and calls for reform or elimination.
Date: July 2, 1998
Creator: Ripy, Thomas B.
Partner: UNT Libraries Government Documents Department

Lobbying Regulations on Non-Profit Organizations

Description: This report is intended to provide a brief overview of the various potential restrictions or regulations on lobbying activities of non-profit organizations. Public charities, social welfare organizations, religious groups, and other non-profit, tax-exempt organizations are not generally prohibited from engaging in all lobbying or public policy advocacy merely because of their tax-exempt status.
Date: May 7, 2008
Creator: Maskell, Jack H.
Partner: UNT Libraries Government Documents Department