Expired And Expiring Temporary Tax Provisions
DOWNLOAD
Download Expired And Expiring Temporary Tax Provisions PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Expired And Expiring Temporary Tax Provisions book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Expired And Expiring Temporary Tax Provisions Tax Extenders
DOWNLOAD
Author : Congressional Research Congressional Research Service
language : en
Publisher: CreateSpace
Release Date : 2014-11-06
Expired And Expiring Temporary Tax Provisions Tax Extenders written by Congressional Research Congressional Research Service and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-06 with categories.
Dozens of temporary tax provisions expired at the end of 2013, and several other temporary tax provisions are scheduled to expire at the end of 2014. Most of the provisions that expired at the end of 2013 have been part of past temporary tax extension legislation. Most recently, many temporary tax provisions were extended as part of the American Taxpayer Relief Act (ATRA; P.L. 112-240). Collectively, temporary tax provisions that are regularly extended by Congress-often for one to two years-rather than being allowed to expire as scheduled are often referred to as "tax extenders." The 113th Congress has considered legislation that would extend selected expired or expiring tax provisions. The Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act (S. 2260), which would extend most expired and soon-to-expire tax provisions through 2015, was reported by the Senate Finance Committee on April 28, 2014. The act subsequently became an amendment to H.R. 3474 which did not advance in the Senate, as a motion to end debate on H.R. 3474 was voted down on May 15, 2014. In contrast to the Senate, the House has voted to permanently extend certain expired tax provisions as part of the Jobs for America Act (H.R. 4), which passed the House on September 18, 2014. Several expired charitable-related provisions would be made permanent as part of the America Gives More Act of 2014 (H.R. 4719), which passed the House on July 17, 2014. The President's FY2015 Budget identifies several expiring provisions that should be permanently extended (and in some cases substantially modified), including the research and experimentation (R&D) tax credit, enhanced expensing for small businesses, the renewable energy production tax credit (PTC), and the new markets tax credit (NMTC). Several other expired provisions would be temporarily extended. The President's FY2015 Budget also assumes that the American Opportunity Tax Credit (AOTC), the earned income tax credit (EITC) expansions, and the child tax credit (CTC) expansions, that were extended through 2017 as part of ARTA, are made permanent. There are several reasons why Congress may choose to enact tax provisions on a temporary basis. Enacting provisions on a temporary basis provides legislators with an opportunity to evaluate the effectiveness of tax policies prior to expiration or extension. Temporary tax provisions may also be used to provide temporary economic stimulus or disaster relief. Congress may also choose to enact tax provisions on a temporary rather than permanent basis due to budgetary considerations, as the foregone revenue from a temporary provision will generally be less than if it was permanent. The provisions that expired at the end of 2013 are diverse in purpose, including provisions for individuals, businesses, the charitable sector, energy, community assistance, and disaster relief. Among the individual provisions that expired are deductions for teachers' out-of-pocket expenses, state and local sales taxes, qualified tuition and related expenses, and mortgage insurance premiums. On the business side, under current law, the R&D tax credit, the WOTC, the active financing exceptions under Subpart F, and increased expensing and bonus depreciation allowances will not be available for taxpayers after 2013. Expired charitable provisions include the enhanced deduction for contributions of food inventory and provisions allowing for tax-free distributions from retirement accounts for charitable purposes. The renewable energy production tax credit (PTC) expired at the end of 2013, along with a number of other incentives for energy efficiency and renewable and alternative fuels. The new markets tax credit, a community assistance program, also expired at the end of 2013.
Expired And Expiring Temporary Tax Provisions
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2014
Expired And Expiring Temporary Tax Provisions written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Expired And Expiring Temporary Tax Provisions Tax Extenders
DOWNLOAD
Author : Molly F. Sherlock
language : en
Publisher:
Release Date : 2014
Expired And Expiring Temporary Tax Provisions Tax Extenders written by Molly F. Sherlock and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Tax credits categories.
Temporary Tax Provisions Extenders Expiring In 2007
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2007
Temporary Tax Provisions Extenders Expiring In 2007 written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Expiring Federal Tax Provisions 2012 2022
DOWNLOAD
Author : Paul L. Collins
language : en
Publisher: Nova Science Publishers
Release Date : 2012
Expiring Federal Tax Provisions 2012 2022 written by Paul L. Collins and has been published by Nova Science Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Taxation categories.
A number of tax provisions have either expired in 2011 or are scheduled to expire at the end of this FY 2012. These include the Bush tax cuts, the alternative minimum tax (AMT) patch, the temporary payroll tax cut, and other temporary expiring provisions, many of which are commonly referred to as "tax extenders." Aside from the payroll tax cut, which was extended by the Middle Class Tax Relief and Job Creation Act of 2012, the most recent law extending many of these provisions was the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. This book provides an overview of these expiring provisions with a focus on past cost and cost of extension and a brief discussion of the current debate concerning the policy.
Certain Temporary Tax Provisions Scheduled To Expire In 2009
DOWNLOAD
Author : Bickley
language : en
Publisher:
Release Date : 2010
Certain Temporary Tax Provisions Scheduled To Expire In 2009 written by Bickley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
List Of Temporary Tax Provisions
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2005
List Of Temporary Tax Provisions written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Several temporary tax provisions will expire this year. Often referred to as "extenders," these provisions were originally enacted with an expiration date that may well be extended. Several have been extended numerous times in the past, sometimes after their expiration date. The extenders provide special tax treatment for certain types of activities and investment and benefit both individuals and corporations. They occur in a variety of policy areas including wage credits to support employment of certain populations; excise taxes on fuel, tires, and other commodities; energy production incentives; deductions for charitable contributions; special depreciation allowances; and many others. A total of 35 temporary tax provisions are expiring in 2005, of which 11 are tax credits, nine are tax deductions, seven are excise taxes, and eight are other temporary provisions. All of the provisions, unless otherwise noted, expire on December 31, 2005. This list will be updated as warranted by legislative changes.
Tax Provisions Expiring In 2013 Tax Extenders
DOWNLOAD
Author : Molly F. Sherlock
language : en
Publisher:
Release Date : 2013
Tax Provisions Expiring In 2013 Tax Extenders written by Molly F. Sherlock and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This report discusses dozens of temporary tax provisions that are scheduled to expire at the end of 2013 under current law. Most of the provisions set to expire in 2013 have been part of past temporary tax extension legislation.
An Overview Of The Tax Provisions In The American Taxpayer Relief Act Of 2012
DOWNLOAD
Author : Margot L. Crandall-hollick
language : en
Publisher: Createspace Independent Pub
Release Date : 2013-02-12
An Overview Of The Tax Provisions In The American Taxpayer Relief Act Of 2012 written by Margot L. Crandall-hollick and has been published by Createspace Independent Pub this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-12 with Business & Economics categories.
On December 31, 2012, a variety of temporary tax provisions which were part of the “fiscal cliff” expired. Two days later, the American Taxpayer Relief Act of 2012 (ATRA; P.L. 112-240) retroactively extended, and in certain cases modified, many of these provisions. The short time period between the expiration of these provisions and the enactment on January 2 of ATRA retroactively meant that from the perspective of all but upper-income taxpayers, income taxes remained unchanged between 2012 and 2013 (i.e., the amount of income tax withheld from their paycheck and the availability of certain tax deductions, credits, and exclusions remained unchanged). This report provides an overview of the tax provisions (Titles I-IV and Title X of P.L. 112-240) included in the “fiscal cliff deal,” including: the permanent extension and modification of the 2001 and 2003 tax cuts, often referred to collectively as the “Bush-era tax cuts”; the temporary extension of certain tax provisions originally included as part of the American Recovery and Reinvestment Act (ARRA; P.L. 111-5), often referred to as the “2009 tax cuts”; the permanent extension of the alternative minimum tax (AMT) patch; the temporary extension of a variety of other temporary expiring provisions for individuals, businesses, and energy often referred to as “tax extenders”; and the expansion of in-plan conversions of traditional employer-sponsored retirement accounts (like 401(k) plans) to employer-sponsored Roth accounts (like Roth 401(k) plans). ATRA did not extend the payroll tax cut. The payroll tax cut—temporarily enacted for 2011 and 2012—reduced Social Security taxes from 6.2% to 4.2% for employees and from 12.4% to 10.4% for the self-employed on the first $110,100 of wages in 2012. In addition, P.L. 112-240 did not change another component of the fiscal cliff, namely new taxes primarily related to Medicare and enacted as part of the Affordable Care Act (ACA; P.L. 111-148, as amended), which went into effect at the beginning of 2013. The Joint Committee on Taxation (JCT) estimates that the tax provisions of ATRA (Titles I-IV and Title X) would reduce revenues by $3.9 trillion over the 10-year budgetary window from 2013 to 2022 in comparison to the official current law baseline. (The official current law baseline was an estimate of future revenue if all temporary tax provisions had expired as originally scheduled.) Of this $3.9 trillion, $1.5 trillion (39%) is a result of permanently extending certain income tax provisions of the 2001 and 2003 tax cuts, $369.1 billion (9%) is a result of permanently extending and modifying estate tax provisions, $134.2 billion (3%) is a result of temporarily extending 2009 tax cut provisions, $1.8 trillion (46%) is a result of permanently extending the AMT patch, and $76.3 billion (2%) is a result of temporarily extending certain temporary expiring provisions and “tax extenders.” In contrast, using a current policy baseline which estimates future revenues if all temporary tax provisions (excluding the payroll tax cut) had been extended, the Administration has stated that these tax provisions would raise revenues by $618 billion. ATRA includes other non-tax provisions, including those related to budget sequestration, emergency unemployment benefits, and Medicare.
Overview Of Tax Provisions Expiring In 2012
DOWNLOAD
Author : Margot L. Crandall-Hollick
language : en
Publisher:
Release Date : 2012-04-09
Overview Of Tax Provisions Expiring In 2012 written by Margot L. Crandall-Hollick and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-09 with categories.
This report discusses a number of tax provisions either expired in 2011 or schedule to expire at the end of 2012. These include the Bush tax cuts; the alternative minimum tax (AMT) patch; the temporary payroll tax cut; and other temporary expiring provisions, many of which are commonly referred to as "tax extenders." This report provides an overview of these expiring provisions. For each provision (or group of provisions), this report first describes the provision, then outlines its past cost and the cost of its extension, and concludes with a brief discussion of the current debate concerning the policy. In the case of the Bush tax cuts and tax extenders, the details of the provisions are provided in accompanying tables. This is a print on demand report.