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701 records in US in 1974
United States · United States Congress · 6 February 1974
Increases, under the Interanl Revenue Code, the personal exemption from $750 to $850.
United States · United States Congress · 6 February 1974
Allows any individual employed on a part-time basis to deduct under the Internal Revenue Code expenses for household and dependent care services necessary for gainful employment. Limits such tax deduction to $200. Defines the term "employed on a part-time basis" as gainful employment for more than 20 but less than 40 hours per week.
United States · United States Congress · 6 February 1974
Tax Policy Review Act - Title I: Provisions to Terminate on January 1, 1975 - Provides that the following provisions of the Internal Revenue Code of 1954 shall terminate on January 1, 1975: (1) the $30,000 exemption and deduction of regular income taxes for the minimum tax on tax preferences, (2) treatment of group-term life insurance purchased for employees, (3) exclusion from gross income of $5,000 employee's death benefit, (4) exemption from tax of $100 of dividends received by individuals, (5) treatment of loss from certain nonbusiness guaranties, (6) twenty-percent variation under the asset depreciation range system, (7) capital gain treatment for lump-sum distribution from pension funds, (8) treatment of employee stock options, (9) tax exemption of credit unions and mutual insurance funds for certain financial institutions, (10) treatment of bad debt reserves of banks and other financial institutions, (11) percentage depletion for oil, gas, and other minerals, (12) capital gain for timber, coal, and iron ore royalties, (13) exclusion of gross-up on dividends of less developed countries corporations, (14) exemption of earned income from foreign sources, (15) alternative tax on capital gains, (16) rules for recapture of depreciation on sale at gain of real property, and (17) special exemptions for excess deductions account for farm losses. Title II: Provisions to Terminate on January 1, 1976 - Provides that the following provisions of the Internal Revenue Code of 1954 shall terminate on January 1, 1976: (1) exclusion from gross income of amounts received as sick pay, (2) deduction of nonbusiness interest and taxes, (3) fast depreciation methods, (4) deduction of research and experimental expenditures, (5) deduction of soil and water conservation expenditures, (6) additional first-year depreciation allowance, (7) deduction of expenditures for clearing land, (8) amortization of railroad grading and tunnel bores, (9) deduction of intangible drilling and development costs, (10) deduction of development expenditures in the case of mines, (11) tax exemption for ships under foreign flag, (12) special deduction for a Western Hemisphere trade corporation, (13) exemption of income from sources within possessions of United States, (14) exclusion from subpart F income of shipping profits and certain dividends, interest, and gains, (15) tax exemption for a DISC, (16) step-up in tax basis of property acquired from decedent, and (17) capital gains on sale or exchange of patents. Title III: Provisions to Terminate on January 1, 1977 - Provides that the following provisions of the Internal Revenue Code of 1954 shall terminate on January 1, 1977: (1) corporate surtax exemption, (2) retirement income credit, (3) credit or deduction for contributions to candidates for public office, (4) investment credit, (5) tax-exempt interest, (6) exclusion from gross income of rental value of parsonages, (7) exclusion from gross income of scholarship and fellowship grants, (8) exclusion from gross income of gain on the sale of residence by person over 65, (9) additional exemption for age 65 or blindness of taxpayer or spouse, (10) exemption for child whose income exceeds $750, (11) deduction for nonbusiness casualty losses, (12) charitable contribution deductions, (13) medical expense deduction, (14) household and dependent care deduction, (15) deduction of moving expenses, (16) nonrecognition of gain on appreciated property used to redeem stock, (17) nonrecognition of gain in connection with certain liquidations, and (18) deduction for capital gains.
United States · United States Congress · 6 February 1974
States that in the case of any person regularly engaged in the commercial transportation of property by the use of highway motor vehicles, there shall be allowed a tax credit, under the Internal Revenue Code, for the taxable year in an amount equal to the total expenditures made by such person during the taxable year for price increases accruing after July 1, 1973, for gasoline, diesel fuel, and other fuel used for such transportation. Defines the term price increases. Authorizes the Secretary of the Treasury to prescribe such regulations as may be necessary to carry out the provisions of this Act. Authorizes the Secretary to refund the tax credits established under this Act on a quarterly basis.
United States · United States Congress · 6 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 6 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 6 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 6 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 6 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to rates of pay of Members of Congress transmitted to the Congress in the Appendix to the Budget for the fiscal year 1975.
United States · United States Congress · 5 February 1974
Declares that the Senate disapproves the recommendations of the President with respect to rates of pay transmitted to the Congress during fiscal years 1975 through 1977, pursuant to the Federal Salary Act of 1967.
United States · United States Congress · 5 February 1974
Establishes a formula for income averaging under the Internal Revenue Code in the event of a downward fluctuation in income. Provides that if an eligible individual has reduced income for the computation year and the amount of such income exceeds $3,000, then the tax imposed under the Internal Revenue Code for the computation year shall be the tax which would be imposed on 80 percent of the average base period income, minus five times the decrease in such tax which would result from subtracting 20 percent of reduced income from 80 percent of average base period income.
United States · United States Congress · 5 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 5 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 5 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to rates of pay of Members of Congress transmitted to the Congress in the Appendix to the Budget for the fiscal year 1975.
United States · United States Congress · 5 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 5 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to rates of pay of Members of Congress transmitted to the Congress in the Appendix to the Budget for the fiscal year 1975.
United States · United States Congress · 5 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 5 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 5 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 4 February 1974
Declares that the Senate disapproves the recommendations of the President with respect to rates of pay transmitted to the Congress in the budget for the fiscal year 1975 pursuant to the Federal Salary Act of 1967.
United States · United States Congress · 4 February 1974
Eliminates under the Internal Revenue Code of 1954 the percentage oil and gas depletion allowance for taxable years ending on or before December 31, 1974. (Amends 26 U.S.C. 613(b)(1)(A))
United States · United States Congress · 4 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 4 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 4 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 4 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 4 February 1974
States that the House of Representatives disapproves the recommendations of the President with respect to the rates of pay of Federal officials transmitted to the Congress in the budget for the fiscal year ending June 30, 1975.
United States · United States Congress · 4 February 1974
Expresses the sense of the Congress that the President should evaluate the commodity requirements of the domestic economy to determine which commodities should be designated as in short supply for purposes of taxation of Domestic International Sales Corporations.
United States · United States Congress · 4 February 1974
Expresses the sense of the Congress that the President should evaluate the commodity requirements of the domestic economy to determine which commodities should be designated as in short supply for purposes of taxation of Domestic International Sales Corporations.
United States · United States Congress · 31 January 1974
Authorizes appropriations to enumerated State Department agencies under the Department of State Appropriations Authorization Act of 1973. Makes conforming amendments to level IV and level V of the Executive Schedule pay rates by including the Assistant Secretary for Oceans and International Environmental and Scientific Affairs under level IV and removing the Director of International Scientific Affairs from level V.
United States · United States Congress · 31 January 1974
Authorizes additional appropriations to the Secretary of State under the Foreign Service Buildings Act of 1926 for the acquisition of sites and buildings in foreign countries. (Amends 22 U.S.C. 295(g))
United States · United States Congress · 31 January 1974
Payments in Lieu of Taxes Act - States that, within two years after the date of enactment of this Act, each county shall elect whether it wishes to proceed under the terms of this Act to receive payments from the Federal Government equal to the real property taxes otherwise due from public lands within such county, or to continue to receive whatever payments such county is entitled to receive under any existing applicable Federal law providing for Federal payments for such county similar to those available under this Act or for payment to such county of part of the revenue derived from such public land. Establishes procedures for the appraisal of public lands. Provides that when any county within a State has elected to proceed under the terms of this Act, there shall be established for that State a State board of appraisal appeal. Provides that each board shall consider and decide any appeal from a county within the State relating to the appraisal of public land within such county. States that decisions of the board shall not be subject to judicial review unless arbitrary or capricious. States that, begining in the first complete fiscal year after the acceptance of such appraisal by both the county involved and the Administrator, the Secretary of the Treasury is authorized to pay annually to the State in which such county is located an amount equivalent to the State, county, and local real property taxes on public lands within such county, based on the tax rate applicable to similar private lands at the value arrived at under the appraisal conducted under this Act. Stipulates that nothing in this Act shall interfere with the right of State or local governments to levy possessory interests taxes on private owners of improvements made by private users on public lands. Authorizes to be appropriated such sums as may be necessary to administer this Act and to make the payments authorized by it.
United States · United States Congress · 30 January 1974
Establishes a formula for income averaging under the Internal Revenue Code in the event of a downward fluctuation in income. Provides that if an eligible individual has reduced income for the computation year and the amount of such income exceeds $3,000, then the tax imposed under the Internal Revenue Code for the computation year shall be the tax which would be imposed on 80 percent of the average base period income, minus five times the decrease in such tax which would result from subtracting 20 percent of reduced income from 80 percent of average base period income.
United States · United States Congress · 30 January 1974
Establishes a formula for income averaging under the Internal Revenue Code in the event of a downward fluctuation in income. Provides that if an eligible individual has reduced income for the computation year and the amount of such income exceeds $3,000, then the tax imposed under the Internal Revenue Code for the computation year shall be the tax which would be imposed on 80 percent of the average base period income, minus five times the decrease in such tax which would result from subtracting 20 percent of reduced income from 80 percent of average base period income.
United States · United States Congress · 30 January 1974
Provides that real property which is farmland, woodland, or open scenic land and forms part of an estate shall be valued, under the Internal Revenue Code of 1954 for estate tax purposes, at its value as farmland if it continues to be used as such.
United States · United States Congress · 30 January 1974
Establishes a formula for income averaging under the Internal Revenue Code in the event of a downward fluctuation in income. Provides that if an eligible individual has reduced income for the computation year and the amount of such income exceeds $3,000, then the tax imposed under the Internal Revenue Code for the computation year shall be the tax which would be imposed on 80 percent of the average base period income, minus five times the decrease in such tax which would result from subtracting 20 percent of reduced income from 80 percent of average base period income.
United States · United States Congress · 29 January 1974
Payments in Lieu of Taxes Act - States that, within two years after the date of enactment of this Act, each county shall elect whether it wishes to proceed under the terms of this Act to receive payments from the Federal Government equal to the real property taxes otherwise due from public lands within such county, or to continue to receive whatever payments such county is entitled to receive under any existing applicable Federal law providing for Federal payments for such county similar to those available under this Act for payment to such county of part of the revenue derived from such public land. Establishes procedures for the appraisal of public lands. Provides that when any county within a State has elected to proceed under the terms of this Act, there shall be established for that State a State board of appraisal appeal. Provides that each board shall consider and decide any appeal from a county within the State relating to the appraisal of public land within such county. States that decisions of the board shall not be subject to judicial review unless arbitrary or capricious. States that, begining in the first complete fiscal year after the acceptance of such appraisal by both the county involved and the Administrator, the Secretary of the Treasury is authorized to pay annually to the State in which such county is located an amount equivalent to the State, county, and local real property taxes on public lands within such county, based on the tax rate applicable to similar private lands at the value arrived at under the appraisal conducted under this Act. Stipulates that nothing in this Act shall interfere with the right of State or local governments to levy possessory interests taxes on private owners of improvements made by private users on public lands. Authorizes to be appropriated such sums as may be necessary to administer this Act and to make the payments authorized by it.
United States · United States Congress · 29 January 1974
States that in the case of any taxable year beginning after December 31, 1973, the aggregate of the allowances under the Internal Revenue Code, for depletion with respect to oil and gas wells in the United States shall not exceed the amount of the average base period allowance for oil and gas wells in the United States. Defines "base period" to mean the period beginning January 1, 1970, and ending December 31, 1972. Sets forth the formula for computing the average base period allowance for oil and gas wells in the United States. Allows a taxpayer, with respect to such oil and gas wells as he may designate, to have the depletion allowance, under the Internal Revenue Code, computed without regard to this Act, under regulations prescribed by the Secretary of the Treasury or his delegate. (Adds 26 U.S.C. 613(e))
United States · United States Congress · 29 January 1974
States that all returns made with respect to taxes imposed under the Internal Revenue Code are confidential and private records; but they may be opened to inspection by the following persons at such times and in such manner as the Commissioner of Internal Revenue by regulation may prescribe: (1) the taxpayer for whom the return was made or his attorney in fact; (2) officers and employees of the Internal Revenue Service, the Department of Justice for tax administration and economic stabilization purposes; (3) shareholders of record owning 1 percent or more of the outstanding stock of any corporation; (4) tax officials of the States; (5) the Committee on Ways and Means of the House of Representatives, the Finance Committee of the Senate, and the Joint Committee on Internal Revenue and Taxation; (6) the Attorney General, Assistant Attorneys General, and United States attorneys; and (7) officers and employees of executive departments and other establishments of the Federal Government upon written request of the head of such department or establishment naming the taxpayer whose return is to be inspected and provided that the inspection is necessary in the enforcement of Federal statutes. States that whenever a return is open to the inspection of any person, a certified copy thereof shall, upon request, be furnished to such person under regulations prescribed by the Commissioner of Internal Revenue who may prescribe a reasonable fee for furnishing such copy. Provides that all regulations issued by the Commissioner of Internal Revenue pursuant to this Act must have written approval of the Chief of Staff of the Joint Committee on Internal Revenue Taxation. States that this Act shall be effective upon enactment. Allows the Commissioner of Internal Revenue a period of ninety days after enactment to issue the regulations required herein.
United States · United States Congress · 29 January 1974
Authorizes appropriations for the Indian Claims Commission for fiscal year 1975.
United States · United States Congress · 29 January 1974
Payments in Lieu of Taxes Act - States that, within two years after the date of enactment of this Act, each county shall elect whether it wishes to proceed under the terms of this Act to receive payments from the Federal Government equal to the real property taxes otherwise due from public lands within such county, or to continue to receive whatever payments such county is entitled to receive under any existing applicable Federal law providing for Federal payments for such county similar to those available under this Act or for payment to such county of part of the revenue derived from such public land. Establishes procedures for the appraisal of public lands. Provides that when any county within a State has elected to proceed under the terms of this Act, there shall be established for that State a State board of appraisal appeal. Provides that each board shall consider and decide any appeal from a county within the State relating to the appraisal of public land within such county. States that decisions of the board shall not be subject to judicial review unless arbitrary or capricious. States that, begining in the first complete fiscal year after the acceptance of such appraisal by both the county involved and the Administrator, the Secretary of the Treasury is authorized to pay annually to the State in which such county is located an amount equivalent to the State, county, and local real property taxes on public lands within such county, based on the tax rate applicable to similar private lands at the value arrived at under the appraisal conducted under this Act. Stipulates that nothing in this Act shall interfere with the right of State or local governments to levy possessory interests taxes on private owners of improvements made by private users on public lands. Authorizes to be appropriated such sums as may be necessary to administer this Act and to make the payments authorized by it.
United States · United States Congress · 28 January 1974
Allows an individual, under the Internal Revenue Code, a credit against tax of $200 multiplied by the number of personal exemptions he is entitled to for the taxable year. Provides that such election to take a credit in lieu of a deduction for exemptions shall apply with respect to taxable years beginning after December 31, 1973.
United States · United States Congress · 28 January 1974
Increases, under the Internal Revenue Code, the personal exemption from $750 to $850.
United States · United States Congress · 28 January 1974
Provides, under the General Education Provisions Act, that funds appropriated for specified programs for fiscal year 1974 shall remain available during the succeeding fiscal year and that such funds for fiscal year 1973 shall remain available during fiscal years 1974 and 1975.
United States · United States Congress · 24 January 1974
Provides, under the General Education Provisions Act, that funds appropriated for specified programs for fiscal year 1974 shall remain available during the succeeding fiscal year and that such funds for fiscal year 1973 shall remain available during fiscal years 1974 and 1975.
United States · United States Congress · 24 January 1974
Provides, under the Internal Revenue Code, that the percentage depletion method may be used only for oil and gas wells located in the "northwestern quadrisphere" as the 50 States, the District of Columbia, Panama, Costa Rica, and any country located entirely above 10 degrees north latitude, east of 170 degrees longitude west of greenwick, and west 50 degrees longitude west of greenwich. (Amends 26 U.S.C. 613)
United States · United States Congress · 24 January 1974
Provides, under the Internal Revenue Code, that the tax deduction allowance for depletion for oil and gas wells and for oil shale shall not be determined for any taxable year ending after December 31, 1973. (Adds, 26 U.S.C. 6139(e))
United States · United States Congress · 24 January 1974
Extends to all unmarried individuals the full tax benefits of income splitting now available to married individuals filing joint returns.
United States · United States Congress · 24 January 1974
Expands, under the Internal Revenue Code, the definition of a small business corporation from 10 shareholders to 15 shareholders, or 25 shareholders in the case of a corporation which has been in existence for 5 or more years. Provides that stock owned by an individual which was received by him by reason of the death of an original shareholder shall, for specified purposes be treated as if it were still owned by such original shareholder. Broadens the classes of permissible shareholders. Permits specified types of trusts to be shareholders. Provides that termination of Subchapter S Corporation election under the Internal Revenue Code may be revoked only if shareholders owning more than 50 percent of the stock of the corporation on the day on which the revocation is made consent to the revocation. Provides for a carryover of disallowed deductions for a corporation's net operating loss with regard to the determination of a shareholder's portion of such loss.
United States · United States Congress · 23 January 1974
Authorizes the Committee on Finance effective February 1, 1974, to expend not to exceed $3,000 each fiscal year for purposes which assist the committee properly to discharge its legislative activities and oversight responsibilities in matters affecting foreign countries and which facilitate the interchange of views with and reception of members of foreign legislative bodies and prominent officials of foreign governments and international and regional organizations.
United States · United States Congress · 23 January 1974
Payments in Lieu of Taxes Act - States that, within two years after the date of enactment of this Act, each county shall elect whether it wishes to proceed under the terms of this Act to receive payments from the Federal Government equal to the real property taxes otherwise due from public lands within such county, or to continue to receive whatever payments such county is entitled to receive under any existing applicable Federal law providing for Federal payments for such county similar to those available under this Act or for payment to such county of part of the revenue derived from such public land. Establishes procedures for the appraisal of public lands. Provides that when any county within a State has elected to proceed under the terms of this Act, there shall be established for that State a State board of appraisal appeal. Provides that each board shall consider and decide any appeal from a county within the State relating to the appraisal of public land within such county. States that decisions of the board shall not be subject to judicial review unless arbitrary or capricious. States that, begining in the first complete fiscal year after the acceptance of such appraisal by both the county involved and the Administrator, the Secretary of the Treasury is authorized to pay annually to the State in which such county is located an amount equivalent to the State, county, and local real property taxes on public lands within such county, based on the tax rate applicable to similar private lands at the value arrived at under the appraisal conducted under this Act. Stipulates that nothing in this Act shall interfere with the right of State or local governments to levy possessory interests taxes on private owners of improvements made by private users on public lands. Authorizes to be appropriated such sums as may be necessary to administer this Act and to make the payments authorized by it.