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Bill· HRH.R. 1400 (100th)open

Department of Justice Appropriation Authorization Act, Fiscal Year 1988

United States · United States Congress · 4 March 1987

Department of Justice Appropriation Authorization Act, Fiscal Year 1988 - Authorizes appropriations for FY 1988 to the Department of Justice for: (1) general administration; (2) the United States Parole Commission; (3) general legal activities; (4) the Antitrust Division; (5) the Foreign Claims Settlement Commission; of the United States; (6) United States marshals; (7) United States attorneys; (8) United States trustees; (9) the support of United States prisoners in non-Federal institutions; (10) fees and expenses of witnesses; (11) the Community Relations Service; (12) the Federal Bureau of Investigation (FBI); (13) the Immigration and Naturalization Service (INS); (14) the Drug Enforcement Administration (DEA); and (15) the Federal Prison System. Provides general authorizations for: (1) travel; (2) meetings; (3) insurance; (4) salaries and expenses; and (5) undercover operations of the FBI and DEA. Requires each organization of the Department to notify specified congressional committees before: (1) reprogramming funds; (2) increasing personnel or funds for any restricted project or program; (3) creating new programs or augmenting existing programs; (4) reorganizing offices or programs; and (5) relocating offices or employees. Allows funds to be expended to assist Cuban and Haitian entrants. Requires the Attorney General to report to the Congress when the Department determines that it will contest, or refrain from defending, any provision of law enacted by the Congress. States that none of the sums authorized by this Act shall be used to overturn or alter the per se prohibition against resale price maintenance in effect under the Federal antitrust laws. Provides that certain payments received under the Immigration and Nationality Act during FY 1988 shall be deposited in the Treasury as miscellaneous receipts. Provides that sums authorized by this Act may not be expended until the Department submits certain plans and reports to the Equal Employment Opportunity Commission.

Bill· HRH.R. 1411 (100th)open

A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to increase the sums authorized to be appropriated for drug law enforcement programs for the fiscal years 1988 and 1989, and for other purposes.

United States · United States Congress · 4 March 1987

Amends the Omnibus Crime Control and Safe Streets Act of 1968 to increase the sums authorized to be appropriated for drug law enforcement programs. Provides additional limitations on the allocation of funds for discretionary grants under such programs.

Bill· HRH.R. 1402 (100th)referred

A bill to amend the Social Security Act to increase the existing dollar limitation on the total amount of the federal payments which may be made to Puerto Rico in any fiscal year under the programs of aid to families with dependent children and aid to the aged, blind, and disabled.

United States · United States Congress · 4 March 1987

Amends part A (General Provisions) of title XI of the Social Security Act to increase the total amount of Federal payments which may be made to Puerto Rico in any fiscal year under titles I (Grants to States for Old-Age Assistance for the Aged), X (Grants for States for Aid to the Blind), XIV (Grants to States for Aid to the Permanently and Totally Disabled), XVI (Grants to States for Aid to the Aged, Blind, or Disabled), and parts A (Aid to Families with Dependent Children) and E (Foster Care and Adoption Assistance) of title IV of the Social Security Act.

Bill· HRH.R. 1395 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to provide an additional standard deduction of $600 for certain physically disabled individuals.

United States · United States Congress · 4 March 1987

Amends the Internal Revenue Code to allow a standard deduction of an additional amount for a taxpayer or the spouse of the taxpayer if the taxpayer or spouse is a paraplegic, a quadriplegic, a hemiplegic, an amputee, or a deaf person at the close of the taxpayer's taxable year. Requires the taxpayer to furnish proof of such condition in such form and manner, and at such times, as prescribed by regulations.

Bill· SS. 628 (100th)open

A bill to amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.

United States · United States Congress · 3 March 1987

Amends the Internal Revenue Code to allow an income tax deduction for interest paid or incurred on a qualified educational loan. Defines "qualified educational loan" as any indebtedness incurred to pay the educational expenses of the taxpayer or the taxpayer's spouse or dependent. (Present law requires that such a loan be secured by an interest in real property.)

Bill· SS. 639 (100th)open

A bill to eliminate restrictions on the taxing power of the State to impose, collect, and administer State and local sales and use taxes on sales in interstate commerce.

United States · United States Congress · 3 March 1987

Allows any State, or political subdivision thereof, to impose a sales or use tax on: (1) any interstate sale of tangible personal property by a person located outside such State or political subdivision; or (2) the use of tangible personal property in such State or political subdivision acquired through any interstate sale by a resident of such State or political subdivision. Defines "interstate sale" as a sale in which tangible personal property sold is shipped or delivered by common carrier or the United States Postal Service to the purchaser in a State from a point outside such State.

Bill· HRH.R. 1368 (100th)open

A bill to delay for 1 year the effective date of the provision of the Tax Reform Act of 1986 which increases from 80 to 90 percent the current year tax liability test for estimated tax payments by individuals.

United States · United States Congress · 3 March 1987

Delays from December 31, 1986, until December 31, 1987, the effective date of provisions of the Tax Reform Act of 1986 which increase from 80 percent to 90 percent the current year tax liability test for estimated tax payments by individuals.

Bill· HRH.R. 1375 (100th)referred

Cable Rate Disclosure Act of 1989

United States · United States Congress · 3 March 1987

Repeals provisions of the Internal Revenue Code which limit the use of certain losses from non-life insurance companies against the consolidated taxable income of an affiliated group which includes one or more domestic insurance companies.

Bill· HRH.R. 1347 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to permit expenses incurred in filing withholding certificates to be deductible whether or not the individual itemizes his deductions, and for other purposes.

United States · United States Congress · 3 March 1987

Amends the Internal Revenue Code to allow a deduction for expenses related to preparation of withholding certificates. Requires that a person who filed such certificate knew it to be false or fraudulent before the imposition of civil penalties. Establishes a transition period for imposition of such penalties.

Bill· HRH.R. 1329 (100th)open

A bill to repeal the provisions of the Tax Reform Act of 1986 which require partnerships, S corporations, and personal service corporations to adopt certain taxable years.

United States · United States Congress · 2 March 1987

Amends the Tax Reform Act of 1986 to repeal provisions which require the adoption of certain taxable years by: (1) partnerships; (2) S corporations; and (3) personal service corporations. Specifies that the Internal Revenue Code shall be applied and administered as if such provisions had not been enacted.

Bill· SS. 604 (100th)open

Omnibus Taxpayers' Bill of Rights Act

United States · United States Congress · 26 February 1987

Omnibus Taxpayers' Bill of Rights Act - Requires the Secretary of the Treasury to prepare a statement setting forth in nontechnical terms: (1) the rights and obligations of a taxpayer and of the Internal Revenue Service (IRS) during a tax audit; (2) the procedures by which a taxpayer may appeal adverse decisions, prosecute refund claims, and file complaints; and (3) the procedures that the IRS may use in enforcing revenue laws. Directs the Secretary to transmit drafts of such statement to specified congressional committees and to distribute the final statement to all taxpayers with tax forms sent by the IRS. Amends the Inspector General Act of 1978 and other Federal law to establish within the Department of the Treasury an Office of Inspector General. Transfers to such Office the existing audit and investigation units of the Department. Prohibits the Inspector from reviewing: (1) monetary, fiscal, and tax policy; and (2) the exercise of legal judgment in the investigation and litigation of cases. Authorizes the Secretary to: (1) withhold from the Inspector requested information that the Secretary determines will jeopardize the success of an ongoing investigation or litigation, confidential sources, or the national security; and (2) prohibit the Inspector from undertaking or continuing an audit or investigation under limited circumstances described in this Act. Requires the IRS, upon taxpayer request, to conduct any interview regarding a deficiency assessment at a reasonable time and place convenient to the taxpayer and to the IRS, and to permit the taxpayer, at his or her own expense, to record the interview. Authorizes the IRS interviewer to record such interview if the taxpayer has been given prior notice and is provided, upon request and payment of reproduction costs, with a transcript of the recording. Requires the interviewer to warn the taxpayer that: (1) he or she has a right to remain silent; (2) any statement the taxpayer makes may be used against him or her; and (3) he or she has the right to the presence of an attorney, certified public accountant, enrolled agent, or enrolled actuary. Permits a waiver of such rights if voluntarily and knowingly made. Amends Federal law to require the Comptroller General of the General Accounting Office to: (1) conduct audits of the IRS with respect to the efficiency, uniformity, and equity of the internal revenue laws (current law specifies no particular focus for such audits); and (2) conduct special audits or investigations of internal revenue law administration upon the request of any congressional committee or Member of Congress. Requires the Comptroller's annual report to the Congress to include specified findings concerning IRS management, efficiency, procedures, and structure. Divests of its finality a vote of the Joint Committee on Taxation to disapprove a Comptroller audit of the IRS. Designates such vote as a recommendation to disapprove an audit and makes such recommendation subject to congressional approval. Prohibits evaluations of IRS personnel based on revenue collected from taxpayers as a result of audits or investigations involving such personnel. Amends the Internal Revenue Code to prescribe criminal penalties for: (1) any investigation by an officer or employee of the United States in connection with Federal tax laws that inquires into the beliefs, associations, or activities of any individual or organization; or (2) the maintenance of any records containing information derived from such an investigation. Creates a civil cause of action in Federal court (regardless of the amount in controversy) for any taxpayer aggrieved by such prohibited investigation or recordkeeping. Authorizes both equitable remedies and awards of damages, including punitive damages, litigation costs, and reasonable attorney fees, in such cases. Extends from ten to 30 days the period between the required notice to a person who neglects or refuses to pay tax liability and a levy on such person's salary, wages, or other property. Specifies information that must be incorporated in such notice, including possible alternative actions and the appropriate appeals procedures. Adds to the circumstances triggering termination of such a levy: (1) an agreement between the taxpayer and the Secretary for payment of the liability; and (2) the Secretary's determination that the taxpayer's financial condition precludes enforceability of the liability. Revises the list of property exempt from levy to: (1) increase the exempt amount permitted for certain personal effects, the property of a business, and wages; (2) add an exemption for certain deposits in qualified institutions; and (3) provide an express exemption, except under limited circumstances specified in this Act, for the taxpayer's principal residence, a motor vehicle used by the taxpayer as the primary means of transportation to work, and any tangible personal property essential to the operation of the taxpayer's business in cases when a levy would prevent the taxpayer from carrying on such business. Prohibits a levy on any property when levy and sales expenses would exceed either the liability for which the levy is made or the fair market value of the levied property. Sets forth situations in which the Secretary must release a levy. Applies to jeopardy levies the administrative and judicial review procedures currently applicable to jeopardy assessments. Authorizes the Secretary, in certain cases, to enter into a binding agreement with a taxpayer under which such taxpayer may pay tax liability in installments. Requires the Secretary to offer in writing to enter such an agreement with any individual: (1) whose tax liability is $20,000 or less; and (2) who has not been delinquent in installment tax payments under similar agreements during a specified period. Permits the Secretary, after proper notice and a hearing, to modify or annul such an agreement upon the finding that the financial condition of the affected taxpayer has significantly changed. Requires the Secretary to abate in full any deficiency, including penalty or interest, completely attributable to erroneous advice in writing given to a taxpayer by an IRS officer or employee in response to such taxpayer's specific inquiry. Directs IRS officers and employees, when giving oral advice to a person, to inform such person that the contents of such communication are not binding on the IRS. Authorizes the IRS Ombudsman, upon application filed by a taxpayer, to issue a Taxpayer Assistance Order if, in the determination of the Ombudsman: (1) the taxpayer is suffering or is about to suffer from an unusual or irreparable loss as a result of the manner in which the internal revenue laws are being administered by the Secretary; and (2) the Secretary has failed to carry out any of his or her duties or has violated any provision of law. Allows the terms of a Taxpayer Assistance Order to require the Secretary to release property of the taxpayer levied upon or to cease or refrain from certain actions. Requires the Secretary to obey any Taxpayer Assistance Order issued by the Ombudsman. Allows an administrative appeal of tax liens. Revises the criteria according to which the Secretary determines a minimum sale price for property seized by levy and subject to a tax sale. Prohibits the Secretary from authorizing a class audit of taxpayers in a particular business or trade until each group member is given proper notice and the opportunity either to file an amended return or to challenge the Secretary's findings at a hearing. Places upon the IRS the burden of proof on all issues in all administrative and judicial proceedings between the IRS and a taxpayer. Applies the rulemaking provisions of the Administrative Procedure Act to all IRS rules and regulations prescribed by the Secretary.

Bill· SS. 591 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to clarify the estate tax deduction for sales of employer securities to employee stock ownership plans or worker-owned cooperatives, and for other purposes.

United States · United States Congress · 26 February 1987

Amends the Internal Revenue Code (IRC) to revise provisions relating to the estate tax deduction for proceeds received from a sale of employer securities to an employee stock ownership plan (ESOP) or worker-owned cooperative. Makes such a deduction available only if: (1) the decedent directly owned the securities immediately before death; and (2) after the sale, the securities are either allocated to participants or held for future allocation in connection with certain exempt loans or transfers of assets. Prohibits, except in a bona fide business transaction, the treatment of employer securities as allocated or held for future allocation insofar as they are so categorized in substitution of other employer securities so designated. Applies the deduction to any sales of qualified employer securities (Current law applies only to sales made by the executor of the estate). Prohibits the amount of the deduction from exceeding: (1) the amount that would lead to a reduction in estate tax liability (before credits) equal of $750,000; or (2) 50 percent of the taxable estate. Disallows proceeds from being taken into account when: (1) they exceed the net sale amount of dispositions of employer securities by the plan during the year preceding the sale in question; (2) they are attributable to transferred assets (except for assets held by the ESOP on February 26, 1987); (3) the sale takes place after the estate tax return filing deadline; or (4) the decedent received the securities under certain specified conditions. Applies the deduction to employer securities that are: (1) issued by a domestic corporation which has no stock outstanding which is readily tradable on an established securities market; (2) includable in the gross estate of the decedent; and (3) would have been includable if the decedent had died within a specified time period. Revises the requirements governing the contents of the written statement to be submitted by the executor of the decedent's estate in order to qualify for the deduction. Imposes an excise tax on ESOP dispositions of employer securities for which an estate tax deduction was allowed. Sets forth the amount of tax applicable to relevant taxable events as follows: (1) 30 percent of the amount realized from any disposition of employer securities by an ESOP or eligible worker-owned cooperative within three years of the group's acquisition of qualified employer securities; (2) 30 percent of the amount realized from a disposition (not within three years after acquisition) that occurs before allocation of such securities to participants' accounts in cases when the proceeds are not allocated; or (3) 30 percent of the repayment amount in cases of a payment by an ESOP of any part of a loan used to acquire employer securities from transferred assets. Sets out the ordering rules to govern dispositions of employer securities for purposes of this excise tax and another specified excise tax relating to ESOPs. Makes the excise tax inapplicable to: (1) dispositions to employees, in certain cases; (2) exchanges associated with the liquidation of a corporation into a cooperative or with other reorganizational purposes; and (3) sales effected to meet IRC diversification requirements relating to pension trusts. Places liability for the excise tax on the employer maintaining the ESOP or the eligible worker-owned cooperative.

Bill· HRH.R. 1313 (100th)open

Omnibus Taxpayers' Bill of Rights Act

United States · United States Congress · 26 February 1987

Omnibus Taxpayers' Bill of Rights Act - Requires the Secretary of the Treasury (Secretary) to prepare a statement setting forth in nontechnical terms: (1) the rights and obligations of a taxpayer and of the Internal Revenue Service (IRS) during a tax audit; (2) the procedures by which a taxpayer may appeal adverse decisions, prosecute refund claims, and file complaints; and (3) the procedures that the IRS may use in enforcing revenue laws. Directs the Secretary to transmit drafts of such statement to specified congressional committees and to distribute the final statement to all taxpayers with tax forms sent by the IRS. Amends the Inspector General Act of 1978 and other Federal law to establish within the Department of the Treasury (Department) an Office of Inspector General (Inspector). Transfers to such Office the existing audit and investigation units of the Department. Prohibits the Inspector from reviewing: (1) monetary, fiscal, and tax policy; and (2) the exercise of legal judgment in the investigation and litigation of cases. Authorizes the Secretary to: (1) withhold from the Inspector requested information that the Secretary determines will jeopardize the success of an ongoing investigation or litigation, confidential sources, or the national security; and (2) prohibit the Inspector from undertaking or continuing an audit or investigation under limited circumstances described in this Act. Requires the IRS, upon taxpayer request, to conduct any interview regarding a deficiency assessment at a reasonable time and place convenient to the taxpayer and to the IRS, and to permit the taxpayer, at his or her own expense, to record the interview. Authorizes the IRS interviewer to record such interview if the taxpayer has been given prior notice and is provided, upon request and payment of reproduction costs, with a transcript of the recording. Requires the interview to warn the taxpayer that: (1) he or she has a right to remain silent; (2) any statement the taxpayer makes may be used against him or her; and (3) he or she has the right to the presence of an attorney, certified public accountant, enrolled agent, or enrolled actuary. Permits a waiver of such rights if voluntarily and knowingly made. Amends Federal law to require the Comptroller General (Comptroller) of the General Accounting Office to: (1) conduct audits of the IRS with respect to the efficiency, uniformity, and equity of the internal revenue laws (current law specifies no particular focus for such audits); and (2) conduct special audits or investigations of internal revenue law administration upon the request of any congressional committee or Member of Congress. Requires the Comptroller's annual report to the Congress to include specified findings concerning IRS management, efficiency, procedures, and structure. Divests of its finality a vote of the Joint Committee on Taxation to disapprove a Comptroller General audit of the IRS. Designates such vote as a recommendation to disapprove an audit and makes such recommendation subject to congressional approval. Prohibits evaluations of IRS personnel based on revenue collected from taxpayers as a result of audits or investigations involving such personnel. Amends the Internal Revenue Code to prescribe criminal penalties for: (1) any investigation by an officer or employee of the United States in connection with Federal tax laws that inquires into the beliefs, associations, or activities of any individual or organization; or (2) the maintenance of any records containing information derived from such an investigation. Creates a civil cause of action in Federal court (regardless of the amount in controversy) for any taxpayer aggrieved by such prohibited investigation or recordkeeping. Authorizes both equitable remedies and awards of damages, including punitive damages, litigation costs and reasonable attorney fees, in such cases. Extends from ten to 30 days the period between the required notice to a person who neglects or refuses to pay tax liability and a levy on such person's salary, wages, or other property. Specifies information that must be incorporated in such notice, including possible alternative actions and the appropriate appeals procedures. Adds to the circumstances triggering termination of such a levy: (1) an agreement between the taxpayer and the Secretary for payment of the liability; and (2) the Secretary's determination that the taxpayer's financial condition precludes enforceability of the liability. Revises the list of property exempt from levy to: (1) increase the exempt amount permitted for certain personal effects, the property of a business, and wages; (2) add an exemption for certain deposits in qualified institutions; and (3) provide an express exemption, except under limited circumstances specified in this Act, for the taxpayer's principal residence, a motor vehicle used by the taxpayer as the primary means of transportation to work, and any tangible personal property essential to the operation of the taxpayer's business in cases when a levy would prevent the taxpayer from carrying on such business. Prohibits a levy on any property when levy and sales expenses would exceed either the liability for which the levy is made or the fair market value of the levied property. Sets forth situations in which the Secretary must release a levy. Applies to jeopardy levies the administrative and judicial review procedures currently applicable to jeopardy assessments. Authorizes the Secretary, in certain cases, to enter into a binding agreement with a taxpayer under which such taxpayer may pay tax liability in installments. Requires the Secretary to offer in writing to enter such an agreement with any individual: (1) whose tax liability is $20,000 or less; and (2) who has not been delinquent in installment tax payments under similar agreements during a specified period. Permits the Secretary, after proper notice and a hearing, to modify or annul such an agreement upon the finding that the financial condition of the affected taxpayer has significantly changed. Requires the Secretary to abate in full any deficiency, including penalty or interest, completely attributable to erroneous advice in writing given to a taxpayer by an IRS officer or employee in response to such taxpayer's specific inquiry. Directs IRS officers and employees, when giving oral advice to a person, to inform such person that the contents of such communication are not binding on the IRS. Authorizes the IRS Ombudsman, upon application filed by a taxpayer, to issue a Taxpayer Assistance Order if, in the determination of the Ombudsman: (1) the taxpayer is suffering or is about to suffer from an unusual or irreparable loss as a result of the manner in which the internal revenue laws are being administered by the Secretary; and (2) the Secretary has failed to carry out any of his or her duties or has violated any provision of law. Allows the terms of a Taxpayer Assistance Order to require the Secretary to release property of the taxpayer levied upon or to cease or refrain from certain actions. Requires the Secretary to obey any Taxpayer Assistance Order issued by the Ombudsman. Allows an administrative appeal of tax liens. Revises the criteria according to which the Secretary determines a minimum sale price for property seized by levy and subject to a tax sale. Prohibits the Secretary from authorizing a class audit of taxpayers in a particular business or trade until each group member is given proper notice and the opportunity either to file an amended return or to challenge the Secretary's findings at a hearing. Places upon the IRS the burden of proof on all issues in all administrative and judicial proceedings between the IRS and a taxpayer. Applies the rulemaking provisions of the Administrative Procedure Act to all IRS rules and regulations prescribed by the Secretary.

Bill· HRH.R. 1311 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to clarify the estate tax deduction for sales of employer securities to employee stock ownership plans or worker-owned cooperatives, and for other purposes.

United States · United States Congress · 26 February 1987

Amends the Internal Revenue Code (IRC) to revise provisions relating to the estate tax deduction for proceeds received from a sale of employer securities to an employee stock ownership plan (ESOP) or worker-owned cooperative. Makes such a deduction available only if: (1) the decedent directly owned the securities immediately before death; and (2) after the sale, the securities are either allocated to participants or held for future allocation in connection with certain exempt loans or transfers of assets. Prohibits, except in a bona fide business transaction, the treatment of employer securities as allocated or held for future allocation insofar as they are so categorized in substitution of other employer securities so designated. Applies the deduction to any sales of qualified employer securities (current law applies only to sales made by the executor of the estate). Prohibits the amount of the deduction from exceeding: (1) the amount that would lead to a reduction in estate tax liability (before credits) equal of $750,000; or (2) 50 percent of the taxable estate. Disallows proceeds from being taken into account when: (1) they exceed the net sale amount of dispositions of employer securities by the plan during the year preceding the sale in question; (2) they are attributable to transferred assets (except for assets held by the ESOP on February 26, 1987); (3) the sale takes place after the estate tax return filing deadline; or (4) the decedent received the securities under certain specified conditions. Applies the deduction to employer securities that are: (1) issued by a domestic corporation which has no stock outstanding which is readily tradable on an established securities market; (2) includable in the gross estate of the decedent; and (3) would have been includable if the decedent had died within a specified time period. Revises the requirements governing the contents of the written statement to be submitted by the executor of the decedent's estate in order to qualify for the deduction. Imposes an excise tax on ESOP dispositions of employer securities for which an estate tax deduction was allowed. Sets forth the amount of tax applicable to relevant taxable events as follows: (1) 30 percent of the amount realized from any disposition of employer securities by an ESOP or eligible worker-owned cooperative within three years of the group's acquisition of qualified employer securities; (2) 30 percent of the amount realized from a disposition (not within three years after acquisition) that occurs before allocation of such securities to participants' accounts in cases when the proceeds are not allocated; or (3) 30 percent of the repayment amount in cases of a payment by an ESOP of any part of a loan used to acquire employer securities from transferred assets. Sets out the ordering rules to govern dispositions of employer securities for purposes of this excise tax and another specified excise tax relating to ESOPs. Makes the excise tax inapplicable to: (1) dispositions to employees, in certain cases; (2) exchanges associated with the liquidation of a corporation into a cooperative or with other reorganizational purposes; and (3) sales effected to meet IRC diversification requirements relating to pension trusts. Places liability for the excise tax on the employer maintaining the ESOP or the eligible worker-owned cooperative.

Bill· HRH.R. 1293 (100th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the excise taxes providing revenues for the Airport and Airway Trust Fund shall not apply if the unobligated balance in such Fund exceeds $1,000,000,000.

United States · United States Congress · 26 February 1987

Amends the Internal Revenue Code to suspend during a specified period of time the excise taxes on: (1) aviation fuel; (2) aircraft tires; (3) gasoline used in aircraft; and (4) air transportation. Provides that such taxes shall be suspended during a time when the unobligated balance in the Airport and Airway Trust fund exceeds $1,000,000,000.

Bill· HRH.R. 1242 (100th)open

Interstate Sales Tax Collection Act of 1987

United States · United States Congress · 25 February 1987

Interstate Sales Tax Collection Act of 1987 - Allows any State or political subdivision to require retailers engaged in business in that State to collect a State and local sales or use tax on the sale or use of tangible personal property shipped or delivered into that State or political subdivision. Amends the Internal Revenue Code to require interstate retailers to file information returns with the Internal Revenue Service for the purpose of assisting States in the collection of such sales or use taxes. Authorizes disclosure of such information to State tax officials. Imposes penalties for failure to file such information returns.

Bill· HRH.R. 1254 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to allow a credit against income tax for employers which provide onsite day care services for dependents of their employees.

United States · United States Congress · 25 February 1987

Amends the Internal Revenue Code to allow an income tax credit to employers for the expenses of establishing an on-site dependent care facility. Sets the amount of such credit at 35 percent of the aggregate net qualified dependent care expenses.

Bill· HRH.R. 1273 (100th)referred

A bill to repeal the restrictions added by the Tax Reform Act of 1986 on the deduction for retirement savings.

United States · United States Congress · 25 February 1987

Amends the Tax Reform Act of 1986 to repeal provisions relating to: (1) the limitations on individual retirement account deductions for active participants in certain pension plans; and (2) nondeductible contributions made to individual retirement plans. Specifies that the Internal Revenue Code shall be applied and administered as if such provisions had not been enacted.

Bill· HRH.R. 1233 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to increase the tax on cigarettes to 40 cents per pack, and to provide annual adjustments to the rate of such tax based on increases in the cost-of-living.

United States · United States Congress · 25 February 1987

Amends the Internal Revenue Code to increase the excise tax on: (1) small cigarettes from $8 to $20 per thousand; and (2) large cigarettes from $16.80 to $42 per thousand. Provides for cost-of-living adjustments in the amount of such tax.

Bill· HRH.R. 1240 (100th)referred

A bill to repeal the provision of the Tax Reform Act of 1986 which disallowed the treatment of certain technical personnel as self-employed individuals.

United States · United States Congress · 25 February 1987

Amends the Tax Reform Act of 1986 to repeal the provision which disallows the treatment of certain technical personnel as self-employed individuals for employment tax purposes. Specifies that the Internal Revenue Code shall be applied and administered as if such provision had not been enacted.

Bill· SS. 579 (100th)open

Taxpayers' Bill of Rights Act

United States · United States Congress · 23 February 1987

Taxpayers' Bill of Rights Act - Requires the Secretary of the Treasury (Secretary) to prepare a statement setting forth in nontechnical terms: (1) the rights and obligations of a taxpayer and of the Internal Revenue Service (IRS) during a tax audit; (2) the procedures by which a taxpayer may appeal adverse decisions, prosecute refund claims, and file complaints; and (3) the procedures that the IRS may use in enforcing revenue laws. Directs the Secretary to transmit drafts of such statement to specified congressional committees and to distribute the final statement to all taxpayers with tax forms sent by the IRS. Amends the Internal Revenue Code and the Federal judicial code to create a civil cause of action for a taxpayer deprived of rights by IRS employees. Amends the Inspector General Act of 1978 and other Federal laws to establish within the Department of the Treasury (Department) an Office of Inspector General (Inspector). Transfers to such Office the existing audit and investigation units of the Department. Prohibits the Inspector from reviewing: (1) monetary, fiscal, and tax policy; and (2) the exercise of legal judgment in the investigation and litigation of cases. Authorizes the Secretary to: (1) withhold from the Inspector requested information that the Secretary determines will jeopardize the success of an ongoing investigation or litigation, confidential sources, or the national security; and (2) prohibit the Inspector from undertaking or continuing an audit or investigation under limited circumstances described in this Act. Requires the IRS, upon taxpayer request, to conduct any interview regarding a deficiency assessment at a reasonable time and place convenient to the taxpayer and to the IRS, and to permit the taxpayer, at his or her own expense, to record the interview. Authorizes the IRS interviewer to record such interview if the taxpayer has been given prior notice and is provided, upon request and payment of reproduction costs, with a transcript of the recording. Requires the interviewer to warn the taxpayer that: (1) he or she has a right to remain silent; (2) any statement the taxpayer makes may be used against him or her; and (3) he or she has the right to the presence of an attorney, certified public accountant, enrolled agent, or enrolled actuary. Permits a waiver of such rights if voluntarily and knowingly made. Amends Federal law to require the Comptroller General (Comptroller) of the General Accounting Office to: (1) conduct audits of the IRS with respect to the efficiency, uniformity, and equity of the internal revenue laws (current law specifies no particular focus for such audits); and (2) conduct special audits or investigations of internal revenue law administration upon the request of any congressional committee or Member of Congress. Requires the Comptroller's annual report to the Congress to include specified findings concerning IRS management, efficiency, procedures, and structure. Divests of its finality a vote of the Joint Committee on Taxation to disapprove a Comptroller General audit of the IRS. Designates such vote as a recommendation to disapprove an audit and makes such recommendation subject to congressional approval. Prohibits evaluations of IRS personnel based on revenue collected from taxpayers as a result of audits or investigations involving such personnel. Amends the Internal Revenue Code to prescribe criminal penalties for: (1) any investigation by an officer or employee of the United States in connection with Federal tax laws that inquires into the beliefs, associations, or activities of any individual or organization; or (2) the maintenance of any records containing information derived from such an investigation. Creates a civil cause of action in Federal court (regardless of the amount in controversy) for any taxpayer aggrieved by such prohibited investigation or recordkeeping. Authorizes both equitable remedies and awards of damages, including punitive damages, litigation costs, and reasonable attorney fees, in such cases. Extends from ten to 30 days the period between the required notice to a person who neglects or refuses to pay tax liability and a levy on such person's salary, wages, or other property. Specifies information that must be incorporated in such notice, including possible alternative actions and the appropriate appeals procedures. Adds to the circumstances triggering termination of such a levy: (1) an agreement between the taxpayer and the Secretary for payment of the liability; and (2) the Secretary's determination that the taxpayer's financial condition precludes enforceability of the liability. Revises the list of property exempt from levy to: (1) increase the exempt amount permitted for certain personal effects, the property of a business, and wages; (2) add an exemption for certain deposits in qualified institutions; and (3) provide an express exemption, except under limited circumstances specified in this Act, for the taxpayer's principal residence, a motor vehicle used by the taxpayer as the primary means of transportation to work, and any tangible personal property essential to the operation of the taxpayer's business in cases when a levy would prevent the taxpayer from carrying on such business. Prohibits a levy on any property when levy and sales expenses would exceed either the liability for which the levy is made or the fair market value of the levied property. Sets forth situations in which the Secretary must release a levy. Applies to jeopardy levies the administrative and judicial review procedures currently applicable to jeopardy assessments. Authorizes the Secretary, in certain cases, to enter into a binding agreement with a taxpayer under which such taxpayer may pay tax liability in installments. Requires the Secretary to offer in writing to enter such an agreement with any individual: (1) whose tax liability is $20,000 or less; and (2) who has not been delinquent in installment tax payments under similar agreements during a specified period. Permits the Secretary, after proper notice and a hearing, to modify or annul such an agreement upon the finding that the financial condition of the affected taxpayer has significantly changed. Prohibits the Secretary from authorizing a class audit of taxpayers in a particular business or trade until each group member is given proper notice and the opportunity either to file an amended return or to challenge the Secretary's findings at a hearing. Places upon the IRS the burden of proof on all issues in all administrative and judicial proceedings between the IRS and a taxpayer.

Bill· HRH.R. 1196 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to prohibit the transfer of returns and return information by tax return preparers in conjunction with the sale of their business unless the taxpayer consents to the transfer.

United States · United States Congress · 23 February 1987

Amends the Internal Revenue Code to prohibit the transfer or other disclosure of taxpayer information by return preparers in conjunction with the sale of the business of preparing tax returns, unless the taxpayer consents in writing to such transfer or other disclosure.

Bill· SS. 566 (100th)referred

A bill to amend the Tax Reform Act of 1984 to provide a special rule for mutual life insurance companies and to amend the Internal Revenue Code of 1986 to provide depositors in insolvent financial institutions the option of a one-time ordinary loss deduction.

United States · United States Congress · 19 February 1987

Amends the Tax Reform Act of 1984 with respect to the tax treatment of life insurance subsidiaries of mutual property and casualty insurance companies. Revises the effect on such subsidiaries of an election by the parent company to treat individual noncancellable accident and health contracts as cancellable. Repeals the mandatory treatment of a stock life insurance company, in such a situation, as though it were a mutual life insurance company. Limits the amount of taxable income an electing parent may take into account when determining the small life insurance company deduction of any controlled group which includes a mutual company which made such an election. Requires that the amount of taxable income of the electing parent taken into account be adjusted, under regulations, so that the revenue losses to the Treasury generated by the election shall not exceed $300,000 during any fiscal year beginning after September 30, 1986. Amends the Internal Revenue Code to allow depositors in bankrupt or insolvent financial institutions to elect to treat their deposits as ordinary loss, provided such deposits: (1) are not federally insured; and (2) do not exceed $20,000 ($10,000 for a separate return by a married person) per taxpayer per institution. Reduces such limit by any amount insured under State law. Provides for revocation of the election to treat as ordinary loss only with the consent of the Secretary of the Treasury.

Bill· SS. 564 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to exclude tax-exempt interest from the computation of the alternative minimum tax and the amount of Social Security benefits to be taxed.

United States · United States Congress · 19 February 1987

Amends the Internal Revenue Code to eliminate tax-exempt interest on specified private activity bonds as an item of tax preference for purposes of alternative minimum tax or as a consideration in determining a corporation's adjusted net book income or current earnings.

Bill· SS. 561 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to allow a charitable contribution deduction to farmers who donate agricultural products to assist victims of natural disasters.

United States · United States Congress · 19 February 1987

Amends the Internal Revenue Code to allow a farmer an income tax deduction for specified agricultural products donated to a State for the care of individuals adversely affected by a major natural disaster. Sets the amount of such deduction at the fair market value of the charitable contribution minus production costs for which the taxpayer has taken a deduction.

Bill· SS. 563 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to exclude from the gross income of landowners certain payments or economic benefits received from the abandoned mine reclamation fund for uses set forth in section 401 of the Surface Mining Control and Reclamation Act of 1977, and for other purposes.

United States · United States Congress · 19 February 1987

Amends the Internal Revenue Code to provide an income tax exclusion for payments, or economic benefits resulting from payments, made under the Abandoned Mine Reclamation Fund of the Surface Mining Control and Reclamation Act of 1977. Specifies that such exclusion shall not apply to: (1) payments made as compensation for services performed; (2) payments made for the use of acquisition of any interests in real or personal property; (3) income from the sale of minerals, soil, or any other materials in or on the affected land or water; or (4) income from the sale or exchange of any interests in affected land or water.

Bill· HRH.R. 1178 (100th)open

A bill to amend the Internal Revenue Code of 1986 to impose a 50 percent nondeductible excise tax on certain profits realized in connection with corporate takeover attempts, and for other purposes.

United States · United States Congress · 19 February 1987

Amends the Internal Revenue Code to impose a 50 percent excise tax on any "greenmail profits" paid to certain corporate stockholders. Defines "greenmail profits" as any gain realized by a four-percent shareholder of any stock in a corporation if: (1) the shareholder held such stock for a period of less than two years; and (2) during the two-year period ending on the date of the sale or exchange of such stock there was a public tender offer for such stock. Disallows an income tax deduction for any interest paid or accrued on indebtedness incurred to acquire stock in a corporation pursuant to a hostile offer.

Bill· HRH.R. 1182 (100th)referred

Health Services Act of 1987

United States · United States Congress · 19 February 1987

Health Services Act of 1987 - Amends the Internal Revenue Code to allow a deduction for amounts paid by or on behalf of an individual to a health services account. Limits the amount of the allowable deduction to any individual for any taxable year to $2,000. Defines a "health services account" as a trust created or organized exclusively to pay qualified health expenses of the distributee. Sets forth various requirements for the trust. Defines "qualified health expenses" as amounts paid for: (1) care of the distributee at a skilled nursing facility; (2) care of the distributee at an intermediate care facility; (3) care at any other long-term facility which provides nursing or custodial care; (4) home health care of the distributee prescribed by, and under the supervision of, a qualified physician; (5) Medicare supplemental policies for the distributee; or (6) health services supplemental policies for the distributee. Defines a "health services supplemental policy" as a health insurance policy or other health benefit plan offered by a private entity to an individual which provides reimbursement for expenses incurred, or services for, catastrophic and long-term care. Requires the Secretary of the Treasury to establish minimum requirements and standards for the certification of health services supplemental policies and procedures for the Secretary to certify policies submitted to the Secretary. Requires any amount distributed from an individual health services account to be included in the gross income of the distributee for the taxable year in which the distribution is received. Imposes a ten percent penalty on distributions which are not used exclusively for qualified health expenses. Permits the exclusion of 20 percent of a distribution from an individual health services account where the distribution is used exclusively to pay qualified health expenses of the distributee. Provides that only 50 percent of any distribution used exclusively to pay for Medicare supplemental policies or health services supplemental policies shall be included in income of the distributee. Provides that an individual health services account will be exempt from taxation unless the distributee engages in prohibited transactions with the account. Treats as a distribution from the account any portion of the account used as security for a loan. Provides that the individual health services account will terminate on the death of the distributee. Allows the deduction for amounts paid to a health services savings account to be taken in arriving at adjusted gross income. Imposes a tax penalty on excess contributions to an individual health services account, on prohibited transactions, and on failure to file certain information reports. Directs the Secretary, in consultation with various interested groups, to report to the Congress, not later than one year after the date of enactment of this Act, on a regulatory program to provide for the application of minimum standards with respect to health services supplemental policies. Amends title XVIII (Medicare) of the Social Security Act to provide Medicare benefits for catastrophic care. Provides that each individual enrolled under Medicare shall be deemed to have elected this coverage unless the individual files a notice that such coverage is not wanted. Requires the Secretary of Health and Human Services to determine the monthly actuarial rate for enrollees for the catastrophic coverage option. Provides that the monthly premiums for each individual covered under this month shall be the amount equal to the monthly actuarial rate for enrollees. Amends title XIX (Medicaid) to establish a program to provide benefits to qualified residents of a State where there exists a Statewide Pooling Corporation. Specifies that the benefits provided under such program shall consist of both the availability and use of health insurance coverage and access to and use of direct health services. Sets forth requirements for such Corporations. Requires the Secretary to pay direct grants to each such Corporation which has an approved State pool. Specifies that such grants shall begin with the quarter commencing on the date the Corporation is approved and certified. Sets forth requirements for participating States which elect to establish such a Corporation. Requires the Secretary to approve and certify any Corporation which fulfills certain specified conditions. Requires the Secretary to review: (1) the levels of insurance to be provided by the Corporation at the time of application and every 24 months thereafter; and (2) the required reports and recommendations of the State. Establishes in the Treasury the Federal Health Trust Fund (trust fund). Sets forth requirements for the administration of such trust fund. Specifies that funds contained in such trust fund shall be used to provide direct grants to Statewide Pooling Corporations. Appropriates to such trust fund the revenues raised by the change in the excise tax on tobacco products and the excise tax on health plans of employers who are not members of a Statewide Pooling Corporation. Changes the excise tax on tobacco products. Imposes an excise tax on employers who are not members of a Statewide Pooling Corporation. Sets the rate of such tax as: (1) ten percent of the amount of employee health expenses paid or incurred during the taxable year; or (2) for employers with no employee health plan, the lesser of $25,000 or five percent of the taxable income of the employers for the taxable year. Allows a business or trade expense income tax deduction for group health plan contributions by small employers if such employer is a member of a Statewide Pooling Corporation.

Bill· HRH.R. 1167 (100th)referred

Family Education Assistance Act of 1987

United States · United States Congress · 19 February 1987

Family Education Assistance Act of 1987 - Amends the Internal Revenue Code to allow an individual taxpayer an income tax deduction for contributions to a savings account established to pay the education expenses (tuition, supplies, meals, and lodging) at an institution of higher education or a vocational school of a child of the taxpayer, of a child of a brother, sister, stepbrother, or stepsister of the taxpayer, of an individual for whom the taxpayer has been appointed as guardian, or of a descendant of a child of the taxpayer. Limits the amount of such deduction to $1,500 (adjusted for inflation) for each account per calendar year. Provides that no account may have more than one beneficiary and that no individual may be a beneficiary of more than one account. Disallows any deduction for contributions to an education savings account for any beneficiary who has attained the age of 19. Requires any balance in an education savings account to be distributed after the individual for whose benefit the account is established attains age 30. Includes the distributions from an education savings account in the gross income of the payee or distributee except for those amounts distributed or used to pay educational expenses incurred by the individual for whose benefit the account is established. Provides that an education savings account is exempt from taxation except for the tax on unrelated business income. Revokes the tax exemption of the account where the individual for whose benefit the account is established engages in certain prohibited transactions with the account. Imposes a ten percent penalty tax on distributions which are not used for educational expenses. Requires the trustee of an education savings account to file reports with the Secretary of the Treasury on the maintenance of the account. Imposes a penalty for failure to file any required report. Extends the deduction for contributions to an education savings account to taxpayers who do not otherwise itemize deductions. Imposes: (1) a six percent excise tax on excess contributions to an education savings account; and (2) a five percent excise tax on amounts connected with any prohibited transaction with respect to such an account. Excludes from the gross income of an individual distributions from an education savings account used exclusively for that individual's educational expenses. Provides that distributions from an education savings account shall not be taken into account in determining support to the extent such distribution is excluded from gross income of the individual for whose benefit the account has been established.

Bill· HRH.R. 1117 (100th)open

A bill to repeal the provision of the Tax Reform Act of 1986 which increases the current year liability test for estimated tax payments from 80 to 90 percent.

United States · United States Congress · 18 February 1987

Amends the Tax Reform Act of 1986 to repeal provisions which increase the current year liability test for estimated tax payments from 80 percent to 90 percent. Provides that the Internal Revenue Code shall be applied and administered as if such section has not been enacted.

Bill· HRH.R. 1116 (100th)referred

A bill to amend the Internal Revenue Code of 1986 with respect to the allocation of research and experimental expenditures.

United States · United States Congress · 18 February 1987

Amends the Internal Revenue Code to require deductions for research and experimental expenditures to be allocated to income from sources within the United States. Repeals a provision of the Tax Reform Act of 1986 which establishes a one-year requirement that 50 percent of such expenditures be allocated to U.S. income and the remainder on the basis of gross sales or gross income.

Bill· HRH.R. 1093 (100th)open

A bill to amend the Internal Revenue Code of 1986 to allow certain associations of football coaches to have a qualified pension plan which includes a qualified cash or deferred arrangement.

United States · United States Congress · 11 February 1987

Amends the Internal Revenue Code to allow a tax-exempt organization all of whose members primarily coach football as full-time employees of four-year colleges or universities to have a pension plan with a qualified cash or deferred arrangement, provided such organization was in existence on September 18, 1986. Requires such a plan to be treated as a multiemployer plan.

Bill· HRH.R. 1103 (100th)open

A bill to repeal the provisions of the Tax Reform Act of 1986 which require partnerships, S corporations, and personal service corporations to adopt certain taxable years.

United States · United States Congress · 11 February 1987

Amends the Tax Reform Act of 1986 to repeal provisions which require the adoption of certain taxable years by: (1) partnerships; (2) S corporations; and (3) personal service corporations. Specifies that the Internal Revenue Code shall be applied and administered as if such provisions had not been enacted.

Bill· HRH.R. 1106 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to allow a charitable contribution deduction for certain amounts paid to or for the benefit of an institution of higher education.

United States · United States Congress · 11 February 1987

Amends the Internal Revenue Code to allow a charitable contribution income tax deduction for amounts paid to or for the benefit of an institution of higher education in cases where the taxpayer receives the right to seating or the right to purchase seating for athletic events at such institution.

Bill· HRH.R. 1108 (100th)referred

A bill to amend the Internal Revenue Code of 1954 to allow an individual a credit against income tax for certain expenditures for the purpose of reducing radon levels in the principal residence of the individual.

United States · United States Congress · 11 February 1987

Amends the Internal Revenue Code to allow an income tax credit for expenses incurred for radon-reduction equipment installed in a principal residence. Sets the amount of such credit at 40 percent of such expenditures. Limits to $2,000 the amount of such expenditures which may be taken into account.

Bill· HRH.R. 1064 (100th)referred

A bill to amend the Internal Revenue Code of 1986 to allow employers a tax credit for hiring displaced homemakers.

United States · United States Congress · 10 February 1987

Amends the Internal Revenue Code to qualify displaced homemakers for the targeted jobs income tax credit. Defines "displaced homemaker" as an individual who: (1) has not worked in the labor force for a substantial number of years but has, during those years, worked in the home providing unpaid services for family members; and (2) has been dependent on public assistance or on the income of another family member but is no longer supported by that income or is receiving public assistance on account of dependent children in the home.

Bill· HJRESH.J.Res. 143 (100th)referred

A joint resolution proposing an amendment to the Constitution of the United States to provide that expenditures for a fiscal year shall neither exceed revenues for such fiscal year nor 19 percent of the Nation's gross national product for the last calendar year ending before the beginning of such fiscal year.

United States · United States Congress · 10 February 1987

Constitutional Amendment - Prohibits Government expenditures for any fiscal year from exceeding: (1) its revenues in such fiscal year; or (2) 19 percent of the gross national product for the last calendar year ending before such fiscal year. Permits the Congress to suspend such prohibition for any fiscal year in which a declaration of war is in effect or whenever three-fifths of the total membership of each House deem it necessary.

Bill· HRH.R. 1049 (100th)open

Utility Ratepayer Refund Act of 1987

United States · United States Congress · 9 February 1987

Utility Ratepayer Refund Act of 1987 - Repeals provisions of the Tax Reform Act of 1986 which extend the normalization requirements to the treatment of excess deferred tax reserves of public utility companies.

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