Congressional Research Service Reports - 234 Matching Results

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Capital Gains Tax: An Overview

Description: This report gives a brief overview of taxes and tax law regarding capital gains.
Date: March 16, 2018
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
open access

Energy Tax Provisions That Expired in 2017 (Tax Extenders)

Description: This report discusses energy tax provisions or "tax extenders" which expired at the end of 2017 and their economic impact.
Date: March 8, 2018
Creator: Sherlock, Molly F.; Marples, Donald J. & Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
open access

The 2017 Tax Revision (P.L. 115-97): Comparison to 2017 Tax Law

Description: This report provides a brief summary of P.L. 115-97 (The tax revision law), comparing each provision in the act with prior tax law. The report also provides a brief legislative history of activity leading to enactment of P.L. 115-97, along with estimated revenue and distributional effects of the recently enacted law.
Date: February 6, 2018
Creator: Sherlock, Molly F. & Marples, Donald J.
Partner: UNT Libraries Government Documents Department
open access

Expired Tax Provisions and "Tax Extenders"

Description: This report discusses tax provisions which expired at the end of 2016 and were not addressed in the 2017 tax reform bill and various options for Congress to either extend them or end them.
Date: January 16, 2018
Creator: Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department
open access

Updated: Will the Supreme Court Address State's Power to Require that Retailers Tax Internet Sales?

Description: This report is an update of an earlier report regarding a state's power to require retailers to tax internet sales in the purchasers state of residence. A case was brought by the state of South Dakota against Wayfair.com (South Dakota v. Wayfair) which was accepted to be heard by the Supreme Court on January 12, 2018.
Date: January 16, 2018
Creator: Lunder, Ericka K.
Partner: UNT Libraries Government Documents Department
open access

Recent Changes in the Estate and Gift Tax Provisions

Description: This report describes the basic structure of the estate and gift tax, provides a brief history of recent developments, discusses the revenue effects and distribution of the tax, and briefly discusses issues and options.
Date: January 11, 2018
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
open access

The Federal Tax System for the 2017 Tax Year

Description: This report describes the current federal tax structure and provides some statistics on the tax system as a whole, as of 2017.
Date: December 26, 2017
Creator: Sherlock, Molly F. & Marples, Donald J.
Partner: UNT Libraries Government Documents Department
open access

What Happens if H.R. 1 Conflicts with U.S. Tax Treaties?

Description: This report discusses what happens if a new U.S. tax law contradicts existing U.S. international tax treaties, with considerations for Congress.
Date: December 19, 2017
Creator: Lunder, Erika K.
Partner: UNT Libraries Government Documents Department
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The Distribution of the Tax Policy Changes in H.R 1 and the Senate's Tax Cuts and Jobs Act

Description: This report discusses the Joint Committee on Taxation's (JCT) November 14, 2017 distributional analysis report of the House and Senate's proposed tax reform legislation which outlines how the changes made by the bill would effect the economic well-being of American taxpayers.
Date: November 21, 2017
Creator: Sherlock, Molly F. & Hughes, Joseph S.
Partner: UNT Libraries Government Documents Department
open access

Tax Incentives for Charitable Giving in the Tax Cuts and Jobs Act (H.R. 1)

Description: This report discusses provisions of the proposed Tax Cuts and Jobs Act (H.R.1) which would reduce the tax incentive for charitable giving by decreasing the deduction amounts that most taxpayers would receive from charitable gift deductions.
Date: November 17, 2017
Creator: Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department
open access

The Individual Mandate for Health Insurance Coverage: In Brief

Description: This report provides an overview of the individual mandate, its associated penalty, and the exemptions from the mandate. It discusses the ACA reporting requirements designed, in part, to assist individuals in providing evidence of having met the mandate. The report includes some national- and state-level data on the application of the mandate's penalty in tax year (TY) 2014 and TY2015.
Date: November 16, 2017
Creator: Mach, Annie L.
Partner: UNT Libraries Government Documents Department
open access

Tax Reform: The Child Credit and the Child Care Credit

Description: This report discusses the child credit and the child care credit and what changes are being made to them in the new tax reform plan currently being debated. This report provides background to help assess who would be assisted by potential changes to either credit. It shows what types of families with children receive both credits and how the credits are distributed across the income distribution.
Date: November 13, 2017
Creator: Crandall-Hollick, Margot L. & Falk, Gene
Partner: UNT Libraries Government Documents Department
open access

Energy Tax Provisions in the Tax Cuts and Jobs Acts (H.R.1)

Description: This report discusses energy-related tax provisions in the The Tax Cuts and Jobs Act (H.R.1). These changes are summarized in Table 1. H.R. 1 includes a broad restructuring of the federal income tax system. A full analysis of the consequences of this proposal for the energy sector, or various subsets of the energy sector, is beyond the scope of this insight.
Date: November 8, 2017
Creator: Sherlock, Molly F. & Hughes, Joseph S.
Partner: UNT Libraries Government Documents Department
open access

Child and Dependent Care Tax Benefits: How They Work and Who Receives Them

Description: This report provides a general overview of the child and dependent care tax benefits, focusing on eligibility requirements and benefit calculation. The report also includes some summary data on these benefits which highlight some of the characteristics of claimants.
Date: October 26, 2017
Creator: Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
open access

Who Earns Pass-Through Business Income? An Analysis of Individual Tax Return Data

Description: This report analyzes individual tax return data to determine who earns pass-through business income which is from sole proprietorships, partnerships, and S corporations. The analysis finds that in 2011 over 82% of net pass-through income was earned by individuals with an adjusted gross income (AGI) over $100,000, although these taxpayers accounted for just 23% of individual returns with pass-through income. Who earns pass-through income may have important implications for tax reform.
Date: October 24, 2017
Creator: Keightley, Mark P.
Partner: UNT Libraries Government Documents Department
open access

The Individual Mandate for Health Insurance Coverage: In Brief

Description: This report provides an overview of the individual mandate, its associated penalty, and the exemptions from the mandate. It discusses the ACA reporting requirements designed, in part, to assist individuals in providing evidence of having met the mandate. The report includes some national- and state-level data on the application of the mandate's penalty in tax year (TY) 2014 and TY2015.
Date: October 11, 2017
Creator: Mach, Annie L.
Partner: UNT Libraries Government Documents Department
open access

PILT (Payments in Lieu of Taxes): Somewhat Simplified

Description: This report discusses the Payment in Lieu of Taxes (PILT) program that compensates local jurisdictions (generally counties) for lost tax property tax revenue due to the presence of federal lands in their county. It covers all NPS, NFS, and BLM lands, some National Wildlife Refuge lands, and a few military lands. The payment calculations are based on a complicated five part system and the program has been criticized for paying vastly different amounts to some counties with similar land amounts a… more
Date: October 5, 2017
Creator: Hoover, Katie
Partner: UNT Libraries Government Documents Department
open access

Corporate Tax Reform: Issues for Congress

Description: This report provides an overview of corporate tax issues and discusses potential reforms in the context of these issues, with particular attention to some of the research concerning large behavioral responses and their implications for revenue and distribution. The first section reviews the size and history of the corporate income tax, and discusses an important issue that has been given little attention by those who propose deep cuts in the corporate tax: its role in preventing the use of the … more
Date: September 22, 2017
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
open access

Itemized Tax Deductions for Individuals: Data Analysis

Description: This report analyzes the most recently available public data from the Internal Revenue Service's (IRS) Statistics of Income (SOI) to provide an overview of who claims itemized deductions, what they claim them for, and the amount in deductions claimed. In addition, the revenue loss associated with several of the larger deductions is presented using data from the Joint Committee on Taxation's (JCT's) tax expenditure estimates. This report concludes with a brief discussion of the implications of v… more
Date: September 21, 2017
Creator: Lowry, Sean
Partner: UNT Libraries Government Documents Department
open access

Business Tax Provisions That Expired in 2016 ("Tax Extenders")

Description: This report briefly summarizes and discusses the economic impact of selected business-related tax provisions that expired at the end of 2016. Types of business provisions covered are special business investment (cost recovery), economic development, and other miscellaneous business-related matters.
Date: August 28, 2017
Creator: Sherlock, Molly F.; Marples, Donald J.; Lowry, Sean & Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
open access

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

Description: This report provides background information on individual income tax provisions that expired in 2016. Information on costs associated with extending individual income tax expired provisions is provided in Table 1. The provisions that were extended in the PATH Act were extended for two years, retroactive for 2015 and through 2016. The estimated cost to make expired provisions permanent is as reported by the Congressional Budget Office (CBO). The CBO reports estimated deficit effects of extending… more
Date: August 23, 2017
Creator: Sherlock, Molly F.; Keightley, Mark P.; Gravelle, Jane G.; Lowry, Sean & Driessen, Grant A.
Partner: UNT Libraries Government Documents Department
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