Tax credit (81 - 90 of 91 items)
Tax Policy: Tax-Credit and Subtraction Methods of Calculating a Value-Added Tax
GGD-89-87: Published: Jun 20, 1989. Publicly Released: Jun 20, 1989.
Pursuant to a legislative requirement, GAO provided information on how choosing a method for calculating tax liability influences the ability of the tax to respond to various tax policy goals, focusing on: (1) maintaining international competitiveness; (2) offsetting the burden of the tax on the poor; and (3) compliance and administrative costs.GAO found that: (1) a single-rate value-added tax wou...
Tax Policy: Preliminary Analysis of the Research and Experimentation Tax Credit
GGD-88-98BR: Published: Jun 17, 1988. Publicly Released: Jun 17, 1988.
Pursuant to a congressional request, GAO reviewed the research and experimentation tax credit to determine: (1) who used the credit; and (2) how the credit's constraints affected use.GAO found that large corporations used 77.6 percent of the total credit claimed in tax years 1981 through 1984. In addition, GAO analyzed income tax returns from 1981 through 1984 for a sample of 927 large corporation...
Taxation of Single Premium Life Insurance
T-GGD-88-20: Published: Mar 15, 1988. Publicly Released: Mar 15, 1988.
GAO discussed: (1) the sales, features, and tax treatment of single-premium life insurance; and (2) potential approaches for changing the tax-favored status of single-premium life insurance products. GAO found that single-premium life insurance policies: (1) allow one large premium prepayment; (2) combine death benefits with earnings, which accumulate tax-free; (3) allow loans against the policies...
Tax Policy: Nonbusiness Interest Deductions
GGD-86-53BR: Published: Mar 13, 1986. Publicly Released: Mar 13, 1986.
GAO reviewed records for taxpayers who itemized their deductions in 1983 to assess the amount and distribution of the average home mortgage, credit card, and other nonbusiness interest deductions.GAO found that: (1) 35.2 million taxpayers filed itemized tax returns for tax year 1983; (2) 72.7 percent of all itemizers claimed mortgage interest deductions; (3) for each income class represented, the...
Tax Policy: Business Energy Investment Credit
GGD-86-21: Published: Dec 6, 1985. Publicly Released: Dec 6, 1985.
In response to a congressional request, GAO provided information on: (1) the number and characteristics of taxpayers using business energy investment tax credits; (2) the types of energy properties for which credits are being claimed; and (3) the administrative problems that the Internal Revenue Service has encountered.GAO found that: (1) corporations with assets of $250 million or more claimed 83...
[Taxation of Property/Casualty Insurance Industry]
128329: Aug 20, 1985
GAO views on the taxation of the property and casualty insurance industry were given. GAO believes that Congress should reexamine several aspects of the tax code dealing with property and casualty insurance companies because, although they had about $28 billion in underwriting losses from 1974 through 1983, they had about $100 billion in investment gains during that period, resulting in a total ga...
[Marginal Tax Rates on Earnings of Factor Inputs: Estimates for Five OECD Nations]
123420: Dec 28, 1983
Views were presented concerning the effects of national tax policies on the economic activity in five industrialized European countries of the Organization for Economic Cooperation and Development. The flow of funds approach was used to study the influence of tax rates on the earnings of labor, capital, and internationally mobile capital. The study indicated that attempts to broaden the tax base a...
Possibility of Improper Geothermal Energy Tax Credit Claims
RCED-83-1: Published: Dec 2, 1982. Publicly Released: Dec 2, 1982.
GAO evaluated the reasonableness of geothermal energy tax credit claims made by individual taxpayers. In performing this review, GAO did not examine any income tax returns.The Internal Revenue Service (IRS) statistics indicate that taxpayers may be improperly claiming residential energy tax credits for geothermal energy expenditures. These tax credits have been claimed by taxpayers residing either...
The Foreign Tax Credit and U.S. Energy Policy
EMD-80-86: Published: Sep 10, 1980. Publicly Released: Sep 10, 1980.
The foreign tax credit allows U.S. corporations to credit a portion of their foreign income taxes paid abroad against their U.S. income tax liability on this income. The oil and gas industry claims the greatest portion, about 75 percent, of the total foreign tax credit. To counter perceived inequities in the tax treatment of U.S. oil companies, Congress has made several changes to the credit which...
Tax Expenditures and Results of Study on Investment Tax Credit
108909: Mar 27, 1979
The investment tax credit has been estimated to represent a revenue loss of over $19 billion for fiscal year 1980. A disadvantage of the investment tax credit is that it does not actually generate additional investment, since many of the investments for which credit is claimed would have been made without the credit. In assessing the desirability of the investment tax credit as an incentive for bu...