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Tax Credit Bonds: Overview and Analysis

Description: Almost all state and local governments sell bonds to finance public projects and certain qualified private activities. Most of the bonds issued are tax-exempt bonds because the interest payments are not included in the bondholder's (purchaser's) federal taxable income. In contrast, Tax Credit Bonds (TCBs) are a type of bond that offers the holder a federal tax credit instead of interest. This report explains the tax credit mechanism and describes the market for the bonds.
Date: July 29, 2010
Creator: Maguire, Steven
Partner: UNT Libraries Government Documents Department

Tax Deductible Expenses: The BP Case

Description: Following the release of BP's second quarter earning statement, which showed a $10 billion reduction in tax liability for oil-spill-related cleanup and expenses, media headlines have generated public concern, and in some cases outrage, over these tax savings. Further, the ability of BP to realize these tax savings has generated a number of inquiries as to how and why BP is entitled to this reduction in tax liability. This report discusses the nature of BP's $10 billion "credit" and the nature of corporate tax deductions.
Date: August 11, 2010
Creator: Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department

Tax Credit Bonds: A Brief Explanation

Description: This report provides a brief explanation on tax credit bonds (TCBs). The first section of this report examines the mechanics of TCBs in more detail. The second section of this report analyzes the market for TCBs relative to municipal and corporate bonds.
Date: August 20, 2008
Creator: Maguire, Steven
Partner: UNT Libraries Government Documents Department

The First-Time Homebuyer Tax Credit

Description: This report discusses a refundable tax credit for first-time homebuyers. First-time homebuyers generally include individuals who have not had a present interest in a principal residence within three years before buying the new property.
Date: September 12, 2008
Creator: Pettit, Carol A.
Partner: UNT Libraries Government Documents Department

The Retirement Savings Tax Credit: A Fact Sheet

Description: This report discusses the saver's tax credit, under which eligible individuals receive a non-refundable tax credit of up to $1,000 for contributing to a traditional IRA or an employer-sponsored retirement plan that is qualified under §401, §403 or §457 of the Internal Revenue Code. The credit was first available in 2002 but will expire after 2006 unless extended by Congress.
Date: April 1, 2004
Creator: Purcell, Patrick
Partner: UNT Libraries Government Documents Department

Health Insurance Premium Credits in the Patient Protection and Affordable Care Act (ACA) in 2015

Description: This report describes the eligibility criteria applicable to the premium tax credits and cost-sharing subsidies, and the calculation method for the credit and subsidy amounts. It also highlights selected issues addressed in the final regulation and guidance on premium credits and indicates the status of implementation, where relevant data is available.
Date: March 18, 2015
Creator: Fernandez, Bernadette
Partner: UNT Libraries Government Documents Department

An Economic Analysis of the Homebuyer Tax Credit

Description: This report provides an economic analysis of the homebuyer tax credit. Data suggest that home prices in general may be stabilizing and that the home inventory is beginning to return to a more normal level. Given the close proximity of these improvements to when the homebuyer tax credit was enacted by the Housing and Economic Recovery Act of 2008 and first modified by the American Recovery and Reinvestment Act of 2009, one could argue that the tax credit was the cause of these improvements.
Date: December 1, 2009
Creator: Keightley, Mark P.
Partner: UNT Libraries Government Documents Department

Dependent Care: Current Tax Benefits and Legislative Issues

Description: This report discusses current tax treatment of dependent care expenses under those two provisions and options for changing those policies. Two income tax provisions help taxpayers pay for the costs of caring for children and older dependents who cannot care for themselves.
Date: February 4, 2015
Creator: Meyerson, Noah P.
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

An Introduction to the Design of the Low-Income Housing Tax Credit

Description: This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.
Date: December 15, 2009
Creator: Keightley, Mark P.
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: February 12, 2013
Creator: Keightley, Mark P.
Partner: UNT Libraries Government Documents Department

Individual Taxpayer Identification Number (ITIN) Filers and the Child Tax Credit: Overview and Legislation

Description: This report discusses the child tax credit, which was created by the Taxpayer Relief Act of 1997 (P.L. 105-34) to help ease the financial burden on families when they have children. The ACTC is available to taxpayers with little or no federal income tax liability.
Date: March 22, 2016
Creator: Crandall-Hollick, Margot L. & Lunder, Erika K.
Partner: UNT Libraries Government Documents Department

Eligibility and Determination of Health Insurance Premium Tax Credits and Cost-Sharing Subsidies: In Brief

Description: Certain individuals without access to subsidized health insurance coverage may be eligible for premium tax credits, as established under the Patient Protection and Affordable Care Act (ACA; P.L. 111-148, as amended). This report examines these tax credits and their eligibility requirements, as well as cost-sharing subsidies.
Date: March 23, 2016
Creator: Fernandez, Bernadette
Partner: UNT Libraries Government Documents Department

An Introduction to the Design of the Low-Income Housing Tax Credit

Description: This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.
Date: February 24, 2006
Creator: Jackson, Pamela J
Partner: UNT Libraries Government Documents Department

The First-Time Homebuyer Tax Credit: An Economic Analysis

Description: This report analyzes the ability of the first-time homebuyer tax credit to stimulate home buying and stabilize home prices. It includes information about current economic conditions, the tax credit with an economic analysis, marginal first-time home buyers, the cost of home ownership, the influence of the economy, and information about policy options and specific ways to adjust the tax credit.
Date: February 19, 2009
Creator: Keightley, Mark P.
Partner: UNT Libraries Government Documents Department

The Foreign Tax Credit's Interest Allocation Rules

Description: This report discusses the "worldwide" allocation of interest rule, which was a provision of the American Jobs Creation Act of 2004 (P.L. 108-357; the Jobs Act). The provision relates to the taxation of multi-national corporations and allows more generous rules for multinationals to use in allocating interest expense for purposes of the U.S. foreign tax credit.
Date: January 28, 2009
Creator: Gravelle, Jane G. & Marples, Donald J.
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

The Work Opportunity Tax Credit: A Fact Sheet

Description: The 104th Congress replaced the Targeted Jobs Tax Credit (TJTC, 1978-1994) with the Work Opportunity Tax Credit (WOTC) in section 1201 of the Small Business Job Protection Act of 1996 (P.L. 104-188). This document provides basic facts about the WOTC.
Date: April 2, 1998
Creator: Levine, Linda
Partner: UNT Libraries Government Documents Department

The Work Opportunity Tax Credit and the 105th Congress

Description: The Work Opportunity Tax Credit (WOTC) was initiated in the Small Business Job Protection Act of 1996 (P.L. 104-188). It is a temporary measure intended to encourage for-profit employers to hire members of specifically designated groups thought to experience recurring problems in the labor market. This document describes the WOTC and identifies issues for members of the 105th Congress.
Date: May 14, 1998
Creator: Levine, Linda
Partner: UNT Libraries Government Documents Department

Energy Tax Policy

Description: Omnibus energy legislation (H.R. 4) that is now in conference would expand energy tax incentives significantly. The House passed the bill on August 2, 2001, and the Senate approved its version April 25, 2002. Several energy tax issues are addressed in these bills: 1) tax incentives to increase the supply of oil and gas, and the demand for coal; 2) energy tax issues relating to energy conservation and energy efficiency; 3) energy tax issues relating to alternative fuels; 4) selected issues relating to electricity restructuring; and 5) expiring energy tax provisions.
Date: October 1, 2002
Creator: Lazzari, Salvatore & Holt, Mark
Partner: UNT Libraries Government Documents Department