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527 Organizations: Reporting Requirements Imposed on Political Organizations after the Enactment of P.L. 106-230

Description: On July 1, 2000, President Clinton signed H.R. 4762, P.L. 106-230. The law amended the Internal Revenue Code [IRC] to require political organizations described in IRC § 527 to disclose their political activities, if they were not already required to do so by the Federal Election Campaign Act [FECA]. This report summarizes the three major changes made by the law and some of the major responses to the legislation. First, all 527 organizations which expect to have over $25,000 in gross receipts du… more
Date: March 19, 2001
Creator: Morris, Marie B.
Partner: UNT Libraries Government Documents Department
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Across-the-Board Tax Cuts: Economic Issues

Description: This report examines economic issues relating to across-the-board tax cuts, focusing primarily on distributional issues. The report is divided into four sections. The first section provides a general overview of the tax system. The next discusses recent proposals relating to across-the-board tax cuts. The third section discusses methods of evaluating alternative types of across-the-board tax cuts. The final section briefly discusses issues of efficiency, simplicity, and stabilization policy.
Date: March 30, 2001
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
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Across-the-Board Tax Cuts: Economic Issues

Description: This report examines economic issues relating to across-the-board tax cuts, focusing primarily on distributional issues. The report is divided into four sections. The first section provides a general overview of the tax system. The next discusses recent proposals relating to across-the-board tax cuts. The third section discusses methods of evaluating alternative types of across-the-board tax cuts. The final section briefly discusses issues of efficiency, simplicity, and stabilization policy.
Date: September 24, 2001
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
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Characteristics of and Reporting Requirements for Selected Tax-Exempt Organizations

Description: This report addresses in summary fashion the differences among several kinds of tax-exempt organizations described in Internal Revenue Code [IRC] subsections 501(c)(3), 501(c)(4), 501(c)(5), 501(c)(6), and section 527. Each of these types of organization has a unique statutory definition, is subject to certain statutory limitations on its activities, enjoys certain benefits from obtaining tax-exempt status, and must share certain information with the general public. Following the report is a ta… more
Date: March 8, 2001
Creator: Morris, Marie B.
Partner: UNT Libraries Government Documents Department
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Charitable Choice Provisions of H.R. 7

Description: H.R. 7, the Community Solutions Act, on July 19 won House passage without amendment by a vote of 233-198. The bill includes basic elements of President Bush’s faith-based initiatives: tax incentives for private giving–scaled back from original proposals (Title I)–and expansion of charitable choice (Title II). (Title III deals with individual development accounts.)
Date: July 21, 2001
Creator: Burke, Vee
Partner: UNT Libraries Government Documents Department
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The Child Tax Credit and the President's Tax Cut Plan

Description: The child tax credit was enacted as part of the Taxpayer Relief Act of 1997. The current credit is $500 per qualifying child. President Bush has proposed increasing the child tax credit to $1,000 per qualifying child. The President has also proposed making permanent the temporary rule in current law that allows the child tax credit to offset a taxpayer’s alternative minimum tax.
Date: March 30, 2001
Creator: Esenwein, Gregg A.
Partner: UNT Libraries Government Documents Department
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Economic and Revenue Effects of Permanent and Temporary Capital Gains Tax Cuts

Description: Recent proposals have been made to enact either a temporary or a permanent capital gains tax cut. The former would probably gain revenue in the first 2 years but lose that revenue and more, most likely within the following 3 years. H.R. 3090, passed by the House, would lower the top tax rate from 20% to 18% for assets held at least a year. The Senate Finance Committee version of H.R. 3090, does not reduce capital gains taxes. A capital gains tax cut appears the least likely of any permanent tax… more
Date: November 8, 2001
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
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Economic Issues Surrounding the Estate and Gift Tax: A Brief Summary

Description: Supporters of the estate and gift tax argue that it provides progressivity in the federal tax system, provides a backstop to the individual income tax and appropriately targets assets that are bestowed on heirs rather than assets earned through their hard work and effort. However, progressivity can be obtained through the income tax and the estate and gift tax is an imperfect backstop to the income tax. Critics argue that the tax discourages savings, harms small businesses and farms, taxes reso… more
Date: June 19, 2001
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
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Energy Tax Policy

Description: President Bush has issued a comprehensive energy policy initiative, which includes limited energy tax measures; the Administration has criticized such measures as being inconsistent with its free market philosophy. Several of the issues that drove energy policy and energy tax policy during the 106th Congress are extant: 1) tax incentives to increase the supply of oil and gas; 2) energy tax issues relating to energy conservation and energy efficiency; 3) energy tax issues relating to alternative… more
Date: August 24, 2001
Creator: Lazzari, Salvatore
Partner: UNT Libraries Government Documents Department
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Export Tax Benefits and the WTO: Foreign Sales Corporations (FSCs) and the Extraterritorial (ETI) Replacement Provisions

Description: The U.S. tax code’s Foreign Sales Corporation (FSC) provisions provided a tax benefit for U.S. exporters. However, the European Union (EU) in 1997 charged that the provision was an export subsidy and thus contravened the World Trade Organization (WTO) agreements. A WTO ruling upheld the EU complaint, and to avoid WTO sanctioned retaliatory tariffs, U.S. legislation in November 2000 replaced FSC with the “extraterritorial income” (ETI) provisions, consisting of a redesigned export tax benefit of… more
Date: July 25, 2001
Creator: Brumbaugh, David L.
Partner: UNT Libraries Government Documents Department
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The Federal Income Tax and the Treatment of Married Couples: Background and Analysis

Description: Defining the married couple as a single tax unit under the federal individual income tax means that some married couples pay more income tax than they would as two unmarried singles (a marriage tax penalty) while other married couples pay less income tax than they would as two unmarried singles (a marriage tax bonus).
Date: March 23, 2001
Creator: Esenwein, Gregg A.
Partner: UNT Libraries Government Documents Department
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Funding School Renovation: Qualified Zone Academy Bonds vs. Traditional Tax-Exempt Bonds

Description: Congressional Research Service (CRS) report entailing information about Qualified Zone Academy Bonds vs. traditional tax-exempt bonds in regards to funding school renovations. The report goes over the side effects of the $1.6 billion Qualified Zone Academy Bond (QZAB), like revenue loss. Tables begin on page 4, and the report ends with a summary concluding that the QZAB program is more beneficial to tax payers and borrowers than traditional tax-exempt municipal bonds.
Date: July 25, 2001
Creator: Maguire, Steven
Partner: UNT Libraries Government Documents Department
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A History of Federal Estate, Gift, and Generation-Skipping Taxes

Description: In this report, the history of the federal transfer taxes, has been divided into four parts: (1) the federal death and gift taxes utilized in the period 1789 to 1915; (2) the development of the modern estate and gift taxes from 1916 through 1975; (3) the creation and refinement of a unified estate and gift tax system, supplemented by a generation-skipping transfer tax; and (4) the phase out and repeal of the estate and generation-skipping taxes, with the gift tax being retained as a device to p… more
Date: August 9, 2001
Creator: Luckey, John R.
Partner: UNT Libraries Government Documents Department
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Individual Retirement Accounts: A Fact Sheet

Description: This report discusses general information about individual retirement accounts (IRAs), established by the Employee Retirement Income Security Act of 1974 (P.L. 93-406) to promote retirement saving; the accounts were limited at first to workers (and spouses) who lacked employer pension coverage.
Date: February 22, 2001
Creator: Graney, Paul J.
Partner: UNT Libraries Government Documents Department
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Individual Retirement Accounts (IRAs): Legislative Issues in the 106th Congress

Description: Bills introduced in the 106th Congress would have raised the limit on contributions to individualretirement accounts(IRAs) and eased other federal IRA rules. The House passed H.R. 5203, incorporating the higher IRA contribution limits of H.R.1102, on September 19, 2000. The IRA provisions of the bill would have cost $21.7 billion in foregone revenue over 10 years. The Senate Finance Committee ordered H.R. 1102 reported (with amendments) on September 7, 2000, but the bill did not reach the Senat… more
Date: January 10, 2001
Creator: Storey, James R.
Partner: UNT Libraries Government Documents Department
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