Congressional Research Service Reports - 18 Matching Results
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- The Earned Income Tax Credit (EITC): An Overview
- 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.
- Higher Education Tax Benefits: Brief Overview and Budgetary Effects
- 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.
- Residential Energy Tax Credits: Overview and Analysis
- This report discusses current residential energy tax credits, options to extend or modify them, and an analysis of their effectiveness.
- Tax Incentives for Opportunity Zones: In Brief
- 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.
- Border-Adjusted Consumption Taxes and Exchange Rate Movements: Theory and Evidence
- This report provides a basic framework for understanding how and why exchange rates could respond to a Border-Adjusted Tax (BAT). It first describes a BAT(which does not tax exports) and uses several examples to illustrate how one works. It then summarizes the standard economic theory of how exchange rates should respond to a BAT, as well as the arguments against the theoretical predictions. Finally, this report reviews the existing literature that has empirically investigated the relationship between exchange rates and BAT systems in other countries.
- The Internet Tax Freedom Act: In Brief
- 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.
- Federal Deductibility of State and Local Taxes
- No Description Available.
- Selected Recently Expired Business Tax Provisions ("Tax Extenders")
- 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.
- Expired and Expiring Temporary Tax Provisions ("Tax Extenders")
- 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.
- The Earned Income Tax Credit (EITC): An Overview
- 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.
- Expired and Expiring Temporary Tax Provisions (“Tax Extenders”)
- No Description Available.
- State Taxation of Internet Transactions
- 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.
- "Amazon Laws" and Taxation of Internet Sales: Constitutional Analysis
- 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.
- Business Organizational Choices: Taxation and Responses to Legislative Changes
- This report consists of business organizational choices with taxation and responses to legislative changes.
- An Overview of Tax Provisions Expiring in 2012
- A number of tax provisions either expired in 2011 or are scheduled to expire at the end of this 2012. As Congress decides whether to extend these provisions, it may consider the estimated revenue losses associated with their extension as well as other factors when evaluating tax policy. In the 112th Congress, Members have yet to consider legislation that would extend all of the provisions discussed in this report, although legislation to extend certain provisions has been considered.
- Energy Tax Policy: Issues in the 112th Congress
- 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.
- Energy Tax Policy: Issues in the 112th Congress
- 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.
- Estate Tax Options
- 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 aspects of the proposals, such as whether the exemptions are indexed for inflation, a proposed inheritance of the exemption for spouses, and proposals to address perceived abuses.