Estimates of Federal Tax Expenditures

Estimates of Federal Tax Expenditures PDF Author: United States. Department of the Treasury
Publisher:
ISBN:
Category : Revenue
Languages : en
Pages : 12

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Estimates of Federal Tax Expenditures

Estimates of Federal Tax Expenditures PDF Author: United States. Department of the Treasury
Publisher:
ISBN:
Category : Revenue
Languages : en
Pages : 12

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Tax Withholding and Estimated Tax

Tax Withholding and Estimated Tax PDF Author:
Publisher:
ISBN:
Category : Tax revenue estimating
Languages : en
Pages : 48

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Federal Income Tax Deduction for State and Local Taxes

Federal Income Tax Deduction for State and Local Taxes PDF Author: United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Intergovernmental Relations
Publisher:
ISBN:
Category : Income tax
Languages : en
Pages : 204

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Medical and Dental Expenses

Medical and Dental Expenses PDF Author:
Publisher:
ISBN:
Category : Income tax deductions for medical expenses
Languages : en
Pages : 20

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Federal Deductibility of State and Local Taxes

Federal Deductibility of State and Local Taxes PDF Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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The interplay between the federal and state and local tax systems through the federal deductibility of state and local taxes is the focus of this report. [...] In 2004, Congress modified the deductibility of state and local taxes - adding the sales tax deduction option for 2004 and 2005 - and the 109th Congress extended the sales tax deduction option for 2006 and 2007. [...] In 2004, Congress modified the deductibility of state and local taxes-adding the sales tax deduction option for 2004 and 2005-and the 109th Congress extended the sales tax deduction option for 2006 and 2007. [...] The deduction from federal income for state and local taxes paid dates from the inception of the current income tax under the Revenue Act of 1913.1 A provision in that act allowed the deduction for "all national, State, county, school and municipal taxes paid within the year, not including 1 The 16th Amendment allowed for the taxation of income without regard to apportionment among t [...] The federal tax savings from the deduction is equal to the taxpayer's marginal tax rate multiplied by the size of the deduction.

The Impact of Repeal of the Deductions for State and Local Taxes

The Impact of Repeal of the Deductions for State and Local Taxes PDF Author: United States. Congress. Joint Economic Committee. Subcommittee on Monetary and Fiscal Policy
Publisher:
ISBN:
Category : Income tax
Languages : en
Pages : 176

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Impact of the Elimination of State and Local Tax Deduction

Impact of the Elimination of State and Local Tax Deduction PDF Author: United States. Congress. House. Committee on the District of Columbia. Subcommittee on Fiscal Affairs and Health
Publisher:
ISBN:
Category : Income tax
Languages : en
Pages : 152

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How Public Education Benefits from the Federal Income Tax Deduction for State and Local Taxes and Other Special Tax Provisions. A Background Paper from the Center on Education Policy

How Public Education Benefits from the Federal Income Tax Deduction for State and Local Taxes and Other Special Tax Provisions. A Background Paper from the Center on Education Policy PDF Author: Wayne C. Riddle
Publisher:
ISBN:
Category :
Languages : en
Pages : 15

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This background paper is intended to serve as a companion to the Center on Education Policy report, "Get the Federal Government Out of Education? That Wasn't the Founding Fathers' Vision." That report discusses the historical foundations and current purposes of the federal role in education. This paper goes into more detail about an issue mentioned briefly in the other report--the financial benefits that education incurs from special federal tax provisions for "individual" taxpayers, particularly the deduction for state and local taxes. Although federal "corporate" tax provisions also affect education, they are beyond the scope of this paper. This paper presents a summary of key findings. Following the key findings is a broad overview of all the special tax provisions for individuals that benefit any level of education and the estimated amount of benefits from each provision. The subsequent sections, which comprise the bulk of the paper, analyze the impact of state and local tax deductibility on public K-12 education. Key findings include: (1) Special tax provisions indirectly subsidize all levels of education; (2) Public K-12 education receives benefits worth billions of dollars through the deductibility of state and local taxes; (3) The federal deduction for state and local taxes has a greater impact in some states than in others; and (4) The federal deduction for state and local taxes appears to maximize the ability of states and localities to raise revenues for public K-12 education. (Contains 3 tables and 3 footnotes.) [For the companion report, "Get the Federal Government out of Education? That Wasn't the Founding Fathers' Vision," see ED518386.].

Your Federal Income Tax for Individuals

Your Federal Income Tax for Individuals PDF Author:
Publisher:
ISBN:
Category : Income tax
Languages : en
Pages : 300

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Federal Income Tax Deduction for State and Local Taxes

Federal Income Tax Deduction for State and Local Taxes PDF Author: United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Intergovernmental Relations
Publisher:
ISBN:
Category : Income tax deductions
Languages : en
Pages : 0

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