E-mail Newsletter
Enter your e-mail address to receive periodic updates on TPC publications and events.
newsletter archive
|
2006 Tax Acts
Tables:
-
(Jun 03, 2011) - T11-0138 - Baseline AMT Table by Cash Income Level: Effect of AMT on 2001-10 Tax Cuts, 2012
Displays the effect of the AMT on the 2001-2010 individual income tax cuts for the year 2012. Specifically, it presents the percentage of tax-units who lose their individual income tax cuts partially or completely due to the AMT and the percentage reduction in the individual income tax-cuts due to the AMT across cash income levels.
-
(Aug 04, 2006) - T06-0240 - H.R. 4 as Passed by the House and Senate: The Pension Protection Act of 2006, Distribution of Federal Tax Change by Cash Income Class, 2011
Preliminary estimates of H.R. 4: The Pension Protection Act of 2006
-
(Aug 02, 2006) - T06-0238 - H.R. 5970 as Passed by the House, Fully-Phased In at 2006 Income and Wealth Levels with Lowest Rate of 15 Percent, Distribution of Tax Change by Cash Income Class
Preliminary estimates of H.R. 5970: Estate Tax and Extension of Tax Relief Act of 2006, as Passed by the House
-
(Aug 02, 2006) - T06-0236 - H.R. 5970 as Passed by the House, Fully-Phased In at 2006 Income and Wealth Levels with Lowest Rate of 20 Percent, Distribution of Tax Change by Cash Income Class
Preliminary estimates of H.R. 5970: Estate Tax and Extension of Tax Relief Act of 2006, as Passed by the House
-
(May 15, 2006) - T06-0092 - Conference Agreement on the Tax Increase Prevention and Reconciliation Act of 2005, Fully-Phased In Impact of Major Provisions at 2006 Income Levels, With Financing Proportional to Individual Income Tax, Distribution by Cash Income Class
The Conference Agreement on the Tax Increase Prevention and Reconciliation Act of 2005 includes the following components: increasing the exemption levels for the Alternative Minimum Tax, extending the dividends and capital gains tax rate cuts to 2009 and 2010, and the elimination of income limits for access to Roth IRAs. This tables shows the distribution of benefits under a scenario with financing proportional to income income tax.
-
(May 15, 2006) - T06-0090 - Conference Agreement on the Tax Increase Prevention and Reconciliation Act of 2005, Fully-Phased In Impact of Major Provisions at 2006 Income Levels, With Financing Proportional to Income, Distribution of Federal Tax Change by Cash Income Class
The Conference Agreement on the Tax Increase Prevention and Reconciliation Act of 2005 includes the following components: increasing the exemption levels for the Alternative Minimum Tax, extending the dividends and capital gains tax rate cuts to 2009 and 2010, and the elimination of income limits for access to Roth IRAs. This tables shows the distribution of benefits under a scenario with financing proportional to income.
-
(May 15, 2006) - T06-0088 - Conference Agreement on the Tax Increase Prevention and Reconciliation Act of 2005, Fully-Phased In Impact of Major Provisions at 2006 Income Levels, With Lump-Sum Financing, Distribution of Federal Tax Change by Cash Income Class
The Conference Agreement on the Tax Increase Prevention and Reconciliation Act of 2005 includes the following components: increasing the exemption levels for the Alternative Minimum Tax, extending the dividends and capital gains tax rate cuts to 2009 and 2010, and the elimination of income limits for access to Roth IRAs. This tables shows the distribution of benefits under a lump-sum financing scenario.
-
(May 10, 2006) - T06-0085 - Conference Agreement on the Tax Increase Prevention and Reconciliation Act of 2005, Fully-Phased In Impact of Major Provisions at 2006 Income Levels, Distribution of Federal Tax Change by Cash Income Class
The House and Senate are negotiating a tax cut package for 2006. This table shows the distribution of benefits by income percentile for the following reported components of the package: increasing the exemption levels for the Alternative Minimum Tax, extending the dividends and capital gains tax rate cuts to 2009 and 2010, and the elimination of income limits for access to Roth IRAs. The benefits are shown as the fully-phased in impact of the provisions at 2006 income levels.
-
(May 09, 2006) - T06-0081 - Possible Elements of 2006 Tax Reconciliation Bill: Increase AMT Exemption and Allow Credits Against AMT, Distribution of Federal Tax Change by Cash Income Class, 2006
A likely element of the tax reconciliation bill being negotiated between the House and Senate is AMT relief. This table shows effects of increasing the AMT exemption to $62,550 for married couples filing a joint return, $42,500 for singles and heads of household, and $31,275 for married individuals filing a separate return, and allowing personal non-refundable credits against the regular tax and AMT, regardless of tentative AMT. The distribution of benefits by income class for 2006.
-
(May 03, 2006) - T06-0077 - Possible Elements of 2006 Tax Reconciliation Bill, Eliminate Income Limitation on Roth IRA Contributions and Allow Conversions Regardless of Income, Distribution of Federal Tax Change by Cash Income Class, 2006
The tax reconciliation bill being negotiated between the House and Senate is reported to include the elimination of income limitations on Roth IRA contributions and the elimination of income limitations on Roth IRA conversions. Under current law, the income limits to Roth IRA contributions are $4,000/$8,000 in 2006 and $5,000/$10,000 in 2010 for individuals and couples, respectively. The proposal would also allow taxpayers to roll over traditional IRAs into Roth IRAs in 2010 regardless of their incomes and pay the tax in two installments in 2011 and 2012. Under current law, taxpayers can only elect to convert their IRAs if their incomes are under $100,000, and there is no option to defer paying tax. Taxpayers benefit from rolling over and paying tax now because all future gains are completely exempt from tax. This table shows the distribution of benefits by income class for these provisions in 2006.
-
(May 03, 2006) - T06-0075 - Possible Elements of 2006 Tax Reconciliation Bill, Eliminate Income Limitation on Roth IRA Contributions, Distribution of Federal Tax Change by Cash Income Class, 2006
A reported component of the tax reconciliation bill being negotiated between the House and Senate is the elimination of income limitations on Roth IRA contributions, effective January 1, 2006. Under current law, the income limits are $4,000 for an individual and $8,000 for a couple in 2006, and $5,000 for an individual and $10,000 for a couple in 2010. This table shows the distribution of benefits by income class for 2006.
-
(May 02, 2006) - T06-0073 - Possible Major Individual Income Tax Provisions in 2006 Tax Reconciliation Bill Fully-Phased In Impact at 2006 Income Levels, Distribution of Federal Tax Change by Cash Income Class
The House and Senate are negotiating a tax cut package for 2006. This table shows the distribution of benefits by income percentile for the following reported components of the package: increasing the exemption levels for the Alternative Minimum Tax, extending the dividends and capital gains tax rate cuts to 2009 and 2010, and the elimination of income limits for access to Roth IRAs. The benefits are shown as the fully-phased in impact of the provisions at 2006 income levels.
-
(May 02, 2006) - T06-0071 - IRA Conversion Provision Fully-Phased In Impact at 2006 Income Levels, Distribution of Federal Tax Change by Cash Income Class
A reported element of the 2006 tax reconciliation bill would allow taxpayers to roll over traditional IRAs into Roth IRAs in 2010 regardless of their incomes and pay the tax in two installments in 2011 and 2012. Under current law, taxpayers can only elect to convert their IRAs if their incomes are under $100,000, and there is no option to defer paying tax. Taxpayers benefit from rolling over and paying tax now because all future gains are completely exempt from tax. This table shows the distribution of lifetime tax benefits from the rollover option by income class at 2006 income levels.
|