Tax Policy

Summary of GAO Work Related to Expiring Tax Provisions Gao ID: T-GGD-92-11 January 28, 1992

This testimony summarizes GAO's work on 5 of the 12 expiring tax provisions that were last extended by the Tax Extension Act of 1991. These provisions include the tax exemption for qualified mortgage revenue bonds, tax credit for targeted jobs, tax credit for low-income rental housing, tax credit for qualified research expenditures, and exclusion for employer-provided educational assistance benefits. Of the 12 provisions, these 5 account for about 70 percent of the estimated foregone federal revenues in fiscal years 1992 through 1996.

Recommendations

Our recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.

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