Records whose title is actually about this topic. Use a country filter if the list is still too broad.
Records
Bill· HRH.R. 755 (100th)open
United States · United States Congress · 27 January 1987
Amends the definitions of "city" and "county" for purposes of the withholding of city or county income or employment taxes from Federal employees residing in or employed in such cities and counties under agreements between the Secretary of the Treasury and the city or county. Eliminates the requirement that there be 500 or more persons regularly employed by all agencies of the Federal Government in such city or county before an agreement can be entered into.
Bill· HRH.R. 766 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to exclude from gross income compensation received by a volunteer fire fighter for service as a member of a State or local fire department or rescue unit.
Bill· HRH.R. 746 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to allow businesses an income tax deduction for self-insured losses. Limits the amount of such deduction for taxpayers maintaining a self-insurance trust to an amount equal to the value of total liability for self-insured losses per year minus the amount in the taxpayer's reserve account or self-insurance trust. Limits the amount of such deduction for taxpayers self-insuring through either an affiliated or unaffiliated insurer to an amount equal to the premium paid to the insurer. Provides that payments made with respect to self-insured losses shall be deductible only to the extent of the aggregate of the contribution made to the self-insurance trust or reserve account for the year in which the losses were incurred. Requires an annual accounting of self-insured losses whether or not a deduction is taken for that year. Includes in the gross income of the taxpayer any amount in a reserve account which exceeds any liability for self-insured losses. Defines and sets requirements for a self-insurance trust. Defines "self-insured losses" as: (1) losses, to the extent not compensated by insurance (other than insurance provided by an affiliate insurance company) or otherwise; and (2) amounts paid to insurers unrelated to the taxpayer to the extent such amounts are not otherwise deductible as insurance expenses when the insurer assumes risks of the taxpayer's business and adjusts the taxpayer's premium subsequent to payment.
Bill· HRH.R. 780 (100th)referred
United States · United States Congress · 27 January 1987
Provides that the Tax Reform Act of 1986 shall be applied and administered as if the three-year basis recovery rule applicable to employees' annuities had not been repealed.
Bill· HRH.R. 751 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to provide that governments issuing tax-exempt securities must not have an income, franchise, or other tax on corporations which includes, as part of the tax base, items of income from sources outside the United States.
Bill· HRH.R. 753 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to exclude from gross income any expense reimbursement allowances received by a State police officer. Limits the amount of such exclusion to a maximum of six dollars per day. Defines "expense reimbursement allowance" to mean any statutory allowance (or allowance negotiated in accordance with State law) to reimburse a State police officer for specified expenses incurred in connection with the performance of his duties (including the cost of meals purchased while on duty). Prohibits the deduction for expenses for which the taxpayer has received such allowance.
Bill· HRH.R. 747 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to permit the deductibility of business expenses of attending conventions in Bermuda. Requires the existence of a presidential certification to the effect that the inclusion of Bermuda is in the national security interest and that the administration and enforcement of the U.S. tax laws is not materially impeded by Bermuda's information exchange policies. Deletes the provision stating that an exchange of information agreement need not provide for the exchange of qualified confidential information which is sought for civil tax purposes if certain conditions are met.
Bill· HRH.R. 743 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to restore and make permanent the deduction for charitable contributions by taxpayers who do not itemize deductions.
Bill· HRH.R. 749 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to provide that the amount of the charitable deduction allowable for motor vehicle expenses will be determined in the same manner Federal employees determine reimbursement for business use of their vehicles.
Bill· HRH.R. 745 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to increase the amount of employer-paid group-term life insurance premiums which may be excluded from the gross income of employees to that amount required to purchase $150,000 of such insurance. (Previous law set a limit of the cost of $50,000 of such insurance.)
Bill· HRH.R. 741 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to increase from 70 1/2 to 72 1/2 the age: (1) until which deductions will be allowed for qualified retirement contributions for the benefit of an individual; and (2) at which an individual is required to begin receiving distributions from individual retirement accounts and annuities.
Bill· HRH.R. 752 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to provide that the maximum income tax deduction for charitable contributions to private foundations shall be the same as the deduction allowed for contributions to public charities (50 percent of taxpayer adjusted gross income). Eliminates distinctions between public charities and private foundations for purposes of the tax deduction for charitable contributions. Provides an exemption from the tax on taxable expenditures of a private foundation for grants to charitable organizations not exceeding a total of $15,000 for the calendar year. Permits the abatement of excise tax penalties imposed on private foundations relating to the initial tax on self-dealing. Redefines "members of family" for purposes of identifying disqualified persons under the private foundation self-dealing rules to include only the individual's spouse, ancestors, and children and the spouse of the individual's children. Classifies expenses for the production of gross investment income or for the management of investment property as qualifying distributions for purposes of calculating the undistributed income of a private foundation. Excludes capital gain income from the computation of net investment income for purposes of computing the tax on the investment income of private foundations.
Bill· HRH.R. 744 (100th)referred
United States · United States Congress · 27 January 1987
Amends the Internal Revenue Code to exclude from gross income the gain from the sale or exchange of property if the taxpayer has owned and used such property as a principal residence for periods aggregating 11 months out of the 12 preceding months. (Current law allows such tax exclusion if the taxpayer is age 55 and has owned and used such property as a principal residence for periods aggregating three years out of the five preceding years.) Removes the requirement that the taxpayer must be at least 55 years old. Limits the exclusion to one sale or exchange during the taxable year. Deletes the limitation on the amount of gain which can be excluded.
Bill· SS. 376 (100th)referred
United States · United States Congress · 22 January 1987
Repeals provisions of the Tax Reform Act of 1986 relating to limitations on individual retirement account contribution deductions. Requires that the Internal Revenue Code be applied as if the provisions repealed by this Act had not been enacted.
Bill· HRH.R. 719 (100th)referred
United States · United States Congress · 22 January 1987
Tax Exemption Equity Act of 1987 - Amends the Internal Revenue Code to deny status as a tax-exempt organization to organizations which directly or indirectly perform or finance abortions. Denies the income, estate, and gift tax charitable contribution deductions for amounts contributed to such organizations.
Law· HJRESH.J.Res. 102 (100th)enacted
United States · United States Congress · 22 January 1987
Transfers specified amounts from previously appropriated FY 1987 funds to the emergency food and shelter program of the Federal Emergency Management Agency.
Bill· SS. 350 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Tax Reform Act of 1986 to extend for one year (from April 16, 1987, to April 16, 1988) the waiver of estimated tax penalties for underpayments by individuals attributable to such Act.
Bill· HRH.R. 634 (100th)open
United States · United States Congress · 21 January 1987
Taxpayer Protection Act - Amends the Internal Revenue Code to subject the Internal Revenue Service (IRS), in the collection of taxes, to provisions of the Fair Debt Collection Practices Act regarding communication and harassment in connection with debt collection. Prohibits the publication of any tax deficiency which has not been adjudged to be payable by a competent court. Permits individual taxpayers to bring a civil action in a U.S. district court for damages resulting from collection practices prohibited by this Act. Requires a Federal court order before property of a taxpayer may be levied upon for the collection of tax. Specifies that a showing of fraud or malfeasance or a misrepresentation, for purposes of modifying or reconsidering a closing agreement between an individual taxpayer and the Secretary of the Treasury, shall be taken into account only if such a showing or misrepresentation is determined by a competent court. Prohibits the Secretary from consenting to extend for more than one year the period for assessment of the income tax liability of any individual taxpayer. Requires the Secretary to prepare, for distribution to taxpayers, brief but comprehensive statements which set forth in nontechnical terms: (1) the rights and obligations of taxpayers during an audit; (2) the procedures which the IRS may use in enforcing revenue laws; and (3) the procedures by which a taxpayer may appeal adverse decisions, prosecute refund claims, and file taxpayer complaints. Requires a copy of such statement to accompany any tax forms sent to taxpayers. Prescribes criminal penalties for: (1) any investigation by employees of the United States in connection with Federal tax laws which 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 for any taxpayer aggrieved by a prohibited investigation or by the deprivation of any civil rights. Permits the award of a judgment of costs, including reasonable attorney's fees, to a prevailing taxpayer in proceedings before the Tax Court. Makes binding on the Secretary: (1) a tax return prepared for the taxpayer by an IRS officer or employee acting in official capacity to provide such assistance; and (2) written information or advice given to the taxpayer by such an officer or employee acting in official capacity. Places the burden of proof upon the IRS in administrative and judicial proceedings involving the IRS and a taxpayer. Directs that the property of taxpayers, for purposes of the estate and gift tax, be valued at historical cost (original cost to the taxpayer or the basis of the property if it was not purchased). Prohibits the use in IRS personnel evaluations of amounts collected pursuant to audits or investigations. Precludes the Secretary from exercising any enforcement authority over churches or certain other organizations. Prohibits the audit of any group of taxpayers unless the Secretary has first met certain notice requirements or permitted members of the group to file an amended return. Sets forth conditions which must be met by the IRS before any action is taken to interfere with the property rights of a taxpayer. Requires the IRS, before securing the records of or personal data concerning any taxpayer, to: (1) notify the taxpayer in writing of the demand, the material sought, and the need for the material; (2) have commenced an action in a competent court against the taxpayer; and (3) have justified its need before the court consistent with the discovery rules of the Federal Rules of Civil Procedure. States that the IRS shall have no authority, in enforcing the tax obligations of any person, which conflicts with rights and privileges granted under the Constitution.
Bill· HRH.R. 698 (100th)referred
United States · United States Congress · 21 January 1987
Repeals the provisions of the Internal Revenue Code which include one-half of social security and tier 1 railroad retirement benefits in the gross income of the taxpayer. Provides that one-half of social security benefits paid to nonresident aliens is includible in the gross income of the nonresident alien.
Bill· HRH.R. 697 (100th)referred
United States · United States Congress · 21 January 1987
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to prohibit the taxation of title II benefits.
Bill· HRH.R. 668 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to exclude from a taxpayer's modified adjusted gross income the amount of tax-exempt interest received or accrued by the taxpayer in determining whether the taxpayer's social security benefits or railroad retirement benefits are to be included in gross income subject to income tax.
Bill· HRH.R. 701 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to exclude from gross income up to $1,250 ($2,500 for joint returns) of interest earned on a savings account maintained in a savings and loan or similar institution.
Bill· HRH.R. 699 (100th)referred
United States · United States Congress · 21 January 1987
Long-Term Care Savings Account Act of 1987 - Amends the Internal Revenue Code to allow an income tax deduction for contributions made to a savings account established to pay the long-term care expenses of an individual. Defines "long-term care expenses" as expenses incurred for any item or service medically necessary or prudent for the care of the beneficiary of such an account. Limits such deduction to $2,000 (adjusted for inflation) annually. Provides that only the beneficiary, the spouse of the beneficiary, and the parents of the beneficiary may contribute to such an account. Provides that no account may have more than one beneficiary and that no individual may be the beneficiary of more than one account. Permits a tax exclusion for income accumulated in such savings accounts as long as such amounts are used exclusively for long-term care expenses. Sets forth penalties for the use of account funds for other than long-term care purposes. Extends the deduction for contributions to a long-term care savings account to taxpayers who do not otherwise itemize deductions.
Bill· HRH.R. 666 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Tax Reform Act of 1986 to repeal provisions revising the taxable years of: (1) partnerships; (2) S corporations; (3) personal service corporations; and (4) trusts. States that the Internal Revenue Code shall be applied and administered as if such provisions had not been enacted.
Bill· HRH.R. 700 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to allow pensioners under a public retirement system and other retirees who are age 65 or over a $10,000 exclusion from gross income of any amount received as an annuity, pension, or other retirement benefit.
Bill· HRH.R. 654 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to increase the excise tax on gasoline from nine cents per gallon to 12 cents per gallon. Specifies that revenues raised by such increase in the excise tax on gasoline shall be transferred to the Mass Transit Account of the Highway Trust Fund. Imposes a floor stock tax on gasoline of three cents per gallon. Specifies that revenues raised by such floor stock tax shall be transferred to the Highway Trust Fund.
Bill· HRH.R. 650 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to reinstate deductions for State and local general sales taxes and State and local taxes on the sale of gasoline, diesel fuel, and other motor fuels.
Bill· HRH.R. 642 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to treat as unmarried for income tax purposes married individuals who: (1) maintain a separate residence apart from a spouse for the entire taxable year; and (2) contribute more than one-half the cost of maintaining such household.
Bill· HRH.R. 667 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to allow homeowners to deduct the full amount of prepaid interest in connection with the refinancing of their principal residences for the taxable year in which paid.
Bill· HRH.R. 630 (100th)referred
United States · United States Congress · 21 January 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 or 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; (4) income from the sale or exchange of any interests in affected land or water; or (5) payments made under the rural abandoned mine program of such Act.
Bill· HRH.R. 641 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to provide that an unmarried individual who maintains a household shall be considered a head of household, without regard to whether the individual has a dependent who is a member of the household.
Bill· HRH.R. 631 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to allow a refundable income tax credit for expenses incurred in the care of elderly family members. Sets such credit at 30 percent of the expenses incurred for taxpayers with incomes of $25,000 or less. Reduces the rate of such credit, but not below 20 percent, by one percent for each $2,000 of taxpayer income in excess of $25,000. Limits such credit to taxpayers with an adjusted gross income of less than $75,000. Imposes a maximum $10,000 limit on the amount of elderly care expenses that can be taken into account. Defines "qualified family member" as any individual who: (1) is related to the taxpayer by blood or marriage; (2) is at least 70 years of age, is diagnosed with senile dementia of the Alzheimer type, or is disabled; and (3) has a family income of $15,000 or less. Defines "qualified elderly care expenses" as payments for: (1) home health agency services; (2) homemaker services; (3) adult day care; (4) respite care; or (5) certain health care equipment and supplies.
Bill· HRH.R. 632 (100th)referred
United States · United States Congress · 21 January 1987
Amends the Internal Revenue Code to provide for an additional standard deduction for deafness of a taxpayer or the taxpayer's spouse or dependents.
Resolution· HRESH.Res. 53 (100th)referred
United States · United States Congress · 21 January 1987
Expresses the sense of the House of Representatives that the Congress should reject the President's recommendation in his 1988 budget proposal to repeal the partial excise tax exemption for alcohol fuels.
Bill· SS. 338 (100th)referred
United States · United States Congress · 20 January 1987
Amends the Internal Revenue Code to allow homeowners to deduct the full amount of prepaid interest in connection with the refinancing of their principal residences for the taxable year in which paid.
Bill· HRH.R. 622 (100th)open
United States · United States Congress · 20 January 1987
Amends the Internal Revenue Code to provide that if an employer does not operate an on-premises eating facility, 50 percent of the employer's share of an off-premises meal furnished to an employee shall be treated as a de minimis fringe benefit (not includible in the employee's income) provided that: (1) the employer pays no more than one-third of the cost of the meal; (2) a maximum of one meal per working day is provided; (3) the meal is furnished during normal business hours; and (4) the employer's share is furnished in kind and not in cash.
Bill· HRH.R. 619 (100th)referred
United States · United States Congress · 20 January 1987
District Heating and Cooling Tax Incentives Act of 1987 - Amends the Internal Revenue Code to allow an investment tax credit for district heating or cooling property. Defines "district heating or cooling property" as any equipment or other property used as an integral part of a district heating or cooling system. Exempts district heating or cooling property which is transferred to a governmental unit or tax-exempt organization from the recapture rules relating to prohibited dispositions of investment tax credit property. Classifies district heating or cooling property as five-year property for purposes of depreciation under the accelerated cost recovery system. Excludes obligations for local district heating or cooling facilities from the volume cap on private activity bonds.
Bill· HRH.R. 616 (100th)referred
United States · United States Congress · 20 January 1987
Elderly Veterans Care Act of 1987 - Amends the Internal Revenue Code to allow an income tax credit for elderly care expenses paid for the care of a qualifying veteran. Sets the amount of such credit at 30 percent of such expenses reduced by one percent for each $2,000 by which the adjusted gross income of the taxpayer exceeds $10,000. Disallows such credit for a taxpayer with an adjusted gross income of $50,000 or more ($25,000 or more in the case of a married individual filing a separate return). Limits the amount of elderly care expenses which may be taken into account for such credit to an aggregate of $7,000 and not more than $3,500 for any one qualifying veteran. Defines a "qualifying veteran" as an individual who is a veteran related to the taxpayer and who is at least 65 years of age and has a family income of $15,000 or less for the taxable year. Defines "qualified elderly care expenses" as payments by the taxpayer for home health agency services, homemaker services, adult day care, respite care, or health care equipment and supplies which are provided to the veteran by an organization or individual not related to the taxpayer or the veteran and which are not compensated for by insurance or otherwise.
Bill· SS. 311 (100th)referred
United States · United States Congress · 14 January 1987
Amends the Internal Revenue Code to deny the use of the cash method of accounting for all corporations engaged in farm product processing with gross receipts in excess of $100,000,000. (Present law allows corporations with gross receipts of $1,000,000 or less to use the cash method of accounting.)
Bill· SS. 302 (100th)open
United States · United States Congress · 12 January 1987
Amends the Internal Revenue Code to impose an import fee on: (1) the first sale within the United States of any crude oil or any refined petroleum product imported into the United States; and (2) the use within the United States of any crude oil or any refined petroleum product imported into the United States if no such tax has been imposed prior to such use. Exempts from such tax crude oil or refined petroleum products purchased for export. Specifies that such fee shall be imposed only at a time when the average international price of crude oil for any four-week period is less than $18 per barrel. Sets the rate of such tax as the difference between $18 per barrel and the average international price of crude oil for the preceding four-week period.
Bill· HRH.R. 578 (100th)referred
United States · United States Congress · 8 January 1987
Targeted Fiscal Assistance Act of 1987 - Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to repeal provisions that terminated the general revenue sharing program. Restores program provisions as they existed before enactment of such Act. Replaces the general revenue sharing program with the Targeted Fiscal Assistance (TFA) program. Authorizes appropriations for TFA for FY 1987 through 1989. Provides for special allocations of TFA funds for Indian tribes, Alaskan native villages, and the District of Columbia. Directs the Secretary of the Treasury to allocate TFA funds to each State (for subsequent allocation to local governments) according to a specified formula based on the need factor, the general tax effort factor, and the relative fiscal gap factor, as defined in this Act, for each State. Entitles local governments to a portion of such State funds according to a specified formula based on the following factors, as defined in this Act, for each unit of local government relative to all units in such State: (1) the unit's population; (2) the unit's general tax effort factor; and (3) the unit's relative income factor. Eliminates provisions allowing State variation of local government allocations. Revises procedures for determining maximum and minimum limitations on local government entitlements.
Bill· HRH.R. 606 (100th)referred
United States · United States Congress · 8 January 1987
Amends the Internal Revenue Code to include in foreign base company income any foreign base company manufacturing related income for the taxable year. Defines "foreign base manufacturing related income" as any income derived from the sale of property by a controlled foreign corporation where the property sold was manufactured in any country other than the United States in either a tax holiday plant or in a runaway plant. Defines "tax holiday plant" and "runaway plant."
Bill· HRH.R. 594 (100th)referred
United States · United States Congress · 8 January 1987
Amends the Tax Reform Act of 1984 to provide a transitional rule allowing a spouse to be relieved of liability for tax or penalties due to an understatement of tax which is attributable to disallowed deductions of the other spouse.
Bill· HRH.R. 605 (100th)referred
United States · United States Congress · 8 January 1987
Amends the Internal Revenue Code to provide that the interest on certain governmental obligations issued by an issuer who is in arrears with respect to another obligation issued by the issuer, or guaranteed by a guarantor who is in arrears with respect to another obligation guaranteed by the guarantor, is not exempt from tax.
Bill· HRH.R. 603 (100th)referred
United States · United States Congress · 8 January 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· HRH.R. 570 (100th)referred
United States · United States Congress · 8 January 1987
Amends the Internal Revenue Code to allow the use of distributions from individual retirement accounts and individual retirement annuities for the purchase, construction, or reconstruction of a principal residence by a first-time homebuyer. Reduces the basis of the dwelling by the amount of the distribution if the distribution is not includible in gross income.
Bill· HRH.R. 581 (100th)referred
United States · United States Congress · 8 January 1987
Amends the Internal Revenue Code to provide that the amount of any contributions to any No Net Cost Tobacco Fund or any No Net Cost Tobacco Account shall be treated as a deductible expense which is not chargeable to a capital account. Provides that amounts subsequently received by the taxpayer in connection with no cost tobacco expenditures shall be included in the gross income of the taxpayer for the taxable year in which such amount is received.
Bill· HRH.R. 600 (100th)referred
United States · United States Congress · 8 January 1987
Amends the Internal Revenue Code to deny a business expense deduction for any amounts paid as restitution or damages to a party: (1) injured by a violation of a securities law or a violation of law involving fraud; or (2) pursuant to a settlement agreement reached between the taxpayer and the Securities and Exchange Commission.
Bill· HRH.R. 592 (100th)referred
United States · United States Congress · 8 January 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· HRH.R. 542 (100th)referred
United States · United States Congress · 8 January 1987
Amends the Internal Revenue Code to allow an income tax credit to individuals who maintain a household in which a dependent aged 65 or over resides. Sets the amount of such credit at $500 for each aged dependent for the taxable year.
PreviousPage 12 of 13Next