Tax credit (71 - 80 of 91 items)
Tax Policy: Summary of GAO Work Related to Expiring Tax Provisions
T-GGD-92-11: Published: Jan 28, 1992. Publicly Released: Jan 28, 1992.
GAO discussed 5 of the 12 expiring tax provisions extended by the Tax Extension Act of 1991. GAO noted that: (1) of the 12 provisions, qualified mortgage revenue bonds (QMB), the targeted jobs tax credit, the low-income housing tax credit, the qualified research tax credit, and employer-provided educational assistance benefits account for 70 percent of the estimated foregone federal revenues in fi...
Tax Policy: Amortizing Purchased Intangible Assets
T-GGD-92-1: Published: Oct 2, 1991. Publicly Released: Oct 2, 1991.
GAO discussed the current tax rules for the treatment of purchased intangible assets. GAO noted that: (1) Internal Revenue Service (IRS) tax data on unresolved or open intangible asset cases showed that taxpayers in 9 industry groups claimed deductions for 175 types of purchased intangible assets valued at $23.5 billion; (2) IRS believed that 70 percent of the claimed intangible assets were actual...
The New Earned Income Credit Form Is Complex and May Not Be Needed
T-GGD-91-68: Published: Sep 17, 1991. Publicly Released: Sep 17, 1991.
GAO discussed the Internal Revenue Service's (IRS) efforts to develop a new form for taxpayers to use in applying for the earned income tax credit. GAO noted that: (1) IRS set up a special task force to develop the new form, solicited comments outside of the usual channels, and tested the clarity and simplicity of the forms and instructions by using focus groups; (2) based on comments IRS received...
Tax Administration: Administrative Aspects of the Health Insurance Tax Credit
GGD-91-110FS: Published: Sep 12, 1991. Publicly Released: Sep 12, 1991.
Pursuant to a congressional request, GAO provided information on the recently enacted health insurance tax credit, focusing on how the: (1) Internal Revenue Service will administer the credit; and (2) credit might be perceived by taxpayers.GAO found that: (1) qualified health insurance expenses for which the earned income credit (EIC) is available are the amounts paid during the taxable year for h...
Tax Policy: Issues and Policy Proposals Regarding Tax Treatment of Intangible Assets
GGD-91-88: Published: Aug 9, 1991. Publicly Released: Aug 9, 1991.
Pursuant to a congressional request, GAO provided information regarding the extent to which business taxpayers can deduct the price they pay for intangible assets, focusing on: (1) types of deductible intangible assets and their claimed values and useful lives; (2) industries claiming such deductions; and (3) various proposals for revising intangible asset tax rules.GAO found that: (1) Internal Re...
Tax Administration: IRS' Administration of the International Boycott Tax Code Provisions
GGD-91-105: Published: Jul 11, 1991. Publicly Released: Jul 11, 1991.
Pursuant to a congressional request, GAO provided information on the Internal Revenue Service's (IRS) administration of provisions requiring businesses to report their activities with countries participating in the Arab League's economic boycott of Israel, focusing on: (1) IRS audits of tax returns of businesses involved in trade with boycotting countries; (2) prosecutions for failing to file, fil...
Alcohol Excise Taxes: Simplifying Rates Can Enhance Economic and Administrative Efficiency
GGD-90-123: Published: Sep 27, 1990. Publicly Released: Sep 27, 1990.
GAO examined the economic inefficiencies and administrative problems associated with the current alcohol excise tax system.GAO found that: (1) inflation has eroded the burden of alcohol excise taxes from generating 8.3 percent of all 1969 tax revenues to 3.6 percent of 1989 revenues; (2) the differential tax rates on alcohol products resulted in products with similar alcohol content being taxed di...
Tax Policy: 1987 Company Effective Tax Rates Higher Than in Prior Years
GGD-90-69: Published: May 10, 1990. Publicly Released: May 17, 1990.
Pursuant to a congressional request, GAO reviewed the overall domestic and international tax burdens of large U.S. companies for 1986 and 1987.GAO found that: (1) the U.S. companies included in the study had higher U.S. and international effective tax rates in 1987 than in 1986 or the years included in earlier studies; (2) 1987 industry effective tax rates increased over earlier periods; (3) the i...
Tax Policy: Value-Added Tax Issues for U.S. Tax Policymakers
GGD-89-125BR: Published: Sep 15, 1989. Publicly Released: Sep 15, 1989.
GAO provided information on the advantages and disadvantages of the value-added tax, focusing on: (1) how the tax would operate; (2) European countries' experiences with value-added tax; and (3) the key issues in deciding whether or not to enact such a tax.GAO found that: (1) a comprehensive 5-percent value-added tax could raise about $125 billion in revenues annually, while one that exempted food...
Tax Policy and Administration: The Research Tax Credit Has Stimulated Some Additional Research Spending
GGD-89-114: Published: Sep 5, 1989. Publicly Released: Sep 5, 1989.
Pursuant to a congressional request and a legislative requirement, GAO reviewed the effectiveness, structure, and administration of the research and experimentation tax credit.GAO found that: (1) the credit stimulated between $1 billion and $2.5 billion in additional research spending between 1981 and 1985 at a cost of $7 billion in tax revenues; (2) although the amount of spending stimulated by t...