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701 records in US in 1978

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Bill· HRH.R. 10832 (95th)referred

A bill to allow a credit against Federal income taxes or a payment from the United States Treasury for State and local real property taxes or an equivalent portion of rent paid on their residences by individuals who have attained age 65.

United States · United States Congress · 8 February 1978

Amends the Internal Revenue Code to provide a limited tax credit to persons age 65 or over for the real property taxes, or 25 percent of the rent, they pay for their principal residences.

Bill· HRH.R. 10851 (95th)referred

Small Business Tax Reform Act

United States · United States Congress · 8 February 1978

Small Business Tax Reform Act - Amends the Internal Revenue Code to replace the corporate income tax rates with a graduated, five-tier rate schedule, imposing the uppermost (48 percent) marginal rate upon income in excess of $100,000.

Law· HRH.R. 10822 (95th)open

A bill to improve the operations of the national sea grant program, to authorize appropriations to carry out such program for fiscal years 1979 and 1980, and for other purposes.

United States · United States Congress · 7 February 1978

Amends the Marine Resources and Engineering Development Act of 1966 to redesignate title II of the Act as the National Sea Grant College Program. Authorizes appropriations to carry out the purposes of the Program for fiscal years 1979 and 1980. Authorizes the Secretary of Commerce to accept funds from Federal departments and agencies to pay for certain contracts and grants relating to the Program. Amends the Sea Grant Program Improvement Act of 1976 to authorize appropriations to carry out the purposes of the Act during fiscal years 1978, 1979, and 1980.

Law· HRH.R. 10823 (95th)open

An Act to amend the National Advisory Committee on Oceans and Atmosphere Act of 1977 to authorize appropriations to carry out the provisions of such Act for fiscal years 1979, and for other purposes.

United States · United States Congress · 7 February 1978

Amends the National Advisory Committee on Oceans and Atmosphere Act of 1977 to: (1) establish expiration dates for the terms of office of the original appointees of the Committee; and (2) authorize appropriations to carry out the purposes of such Act during fiscal year 1979.

Bill· HRH.R. 10820 (95th)referred

A bill to provide that individuals who retired on disability before October 1, 1976, shall be entitled to the exclusion for disability payments under section 105(d) of the Internal Revenue Code of 1954 without regard to the income limitation in such section, and for other purposes.

United States · United States Congress · 7 February 1978

Amends the Tax Reform Act to provide an unlimited exclusion from gross income of disability payments received by persons who retired on or before October 1, 1976, and either retired on disability, or were entitled to retire on disability.

Bill· HRH.R. 10801 (95th)referred

A bill to simplify the private foundation return and reporting requirements under the Internal Revenue Code, and to make private foundation information returns more readily accessible to the public.

United States · United States Congress · 7 February 1978

Amends the Internal Revenue Code to repeal the requirement that private foundations file annual reports with the Secretary of the Treasury. Requires certain information that is currently included in such reports to be included in the tax returns of foundations and that the returns be made available to the public in the same manner that such reports are currently.

Bill· HRH.R. 10802 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction of not more than $1,500 for amounts paid or incurred for maintaining a household a member of which is a dependent of the taxpayer who has attained the age of 65.

United States · United States Congress · 7 February 1978

Amends the Internal Revenue Code to allow a deduction of up to $1,500 for household expenses to any taxpayer who maintains a household in which a dependent aged 65 or over resides.

Bill· HRH.R. 10803 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction of not more than $1,500 for amounts paid or incurred for maintaining a household a member of which is a dependent of the taxpayer who has attained the age of 65.

United States · United States Congress · 7 February 1978

Amends the Internal Revenue Code to allow a deduction of up to $1,500 for household expenses to any taxpayer who maintains a household in which a dependent aged 65 or over resides.

Bill· SS. 2497 (95th)referred

Corporate Tax Reduction Act

United States · United States Congress · 6 February 1978

Corporate Tax Reduction Act - Amends the Internal Revenue Code to reduce the rate of tax on the first $150,000 of corporate income and to increase the corporate surtax exemption.

Bill· SS. 2499 (95th)referred

Asset Depreciation Simplification Act

United States · United States Congress · 6 February 1978

Asset Depreciation Simplification Act - Amends the Internal Revenue Code to provide a new rapid depreciation method for up to $200,000 worth of property.

Bill· SS. 2498 (95th)referred

Small Business Reinvestment Act

United States · United States Congress · 6 February 1978

Small Business Reinvestment Act - Amends the Internal Revenue Code to provide that if an equity or proprietary interest is sold, gain from such sale shall be recognized only to the extent that the sale price exceeds the cost of an equity or proprietary interest in a small business purchased within two years from the date of the sale.

Bill· HRH.R. 10766 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow taxpayers to treat certain federally required nonproductive expenditures as not chargeable to capital account and as currently deductible.

United States · United States Congress · 6 February 1978

Amends the Internal Revenue Code to allow taxpayers to deduct all current expenditures for plants and facilities which are otherwise chargeable to capital account and which are certified as required by Federal law and as not significantly increasing the plant's or facility's value or productivity.

Bill· HRH.R. 10745 (95th)referred

A bill relating to the year for including in income certain payments received in 1978 under the Agricultural Act of 1949 and attributable to drought or other disaster in 1977.

United States · United States Congress · 2 February 1978

Permits a taxpayer, who has received cash payments under the Agricultural Act of 1949 in 1978 for crop disaster losses sustained in 1977, to elect to include such payments in his 1977 income, if he establishes that, under his practice, income from the lost crops would have been reported in his 1977 income.

Bill· HRH.R. 10692 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide for a 2-year amortization of property which is used in connection with a plan or other property in operation before January 1, 1978, and which is required with respect to such plant or other property pursuant to the Occupational Safety and Health Act of 1970.

United States · United States Congress · 1 February 1978

Amends the Internal Revenue Code to allow the amortization over a 24 month period of depreciable tangible property which is required to be used in a plant or other facility by the Occupational Safety and Health Act of 1970 and which does not have any economic usefulness to the taxpayer.

Bill· HRH.R. 10674 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow taxpayers to treat certain federally required nonproductive expenditures as not chargeable to capital account and as currently deductible.

United States · United States Congress · 1 February 1978

Amends the Internal Revenue Code to allow taxpayers to deduct all current expenditures for plants and facilities which are otherwise chargeable to capital account and which are certified as required by Federal law and as not significantly increasing the plant's or facility's value or productivity.

Bill· SS. 2461 (95th)referred

Estate and Gift Tax Amendments Act

United States · United States Congress · 31 January 1978

Estate and Gift Tax Amendments Act - Amends the Internal Revenue Code to increase the minimum value for carryover basis property from $60,000 to $175,000. Specifies formulae for determining adjustments to basis for December 31, 1976, fair market value for marketable bonds and securities and other property, and minimum basis for non-business tangible personal property and personal residence. Decreases from $100 to $50 per failure the penalty an executor must pay for failing to furnish beneficiaries specified information with respect to carryover basis property. Amends the formula for computing the income tax deduction for estate taxes paid on income in respect of a decedent. Specifies a new formula for the increase in the basis of gifts because of the Federal gift tax paid attributable to appreciation, and allows an increase in basis for the amount of a State gift tax by the amount of such tax attributable to appreciation in value of the gift. Expands the material participation criteria for the special use valuation of certain farm and other real property to provide for the satisfaction of the requirement where the decedent or his spouse has so participated for any 20 years before the decedent's death. Revises the material participation requirement for heirs to allow satisfaction of the requirement by an heir's agents or fiduciaries under specified conditions. Requires the uniform definition of interests in closely held businesses for purposes of qualifying for the alternative time extensions for paying estate taxes on estates consisting mostly of such businesses.

Bill· SS. 2462 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to permit a limited individual retirement deduction to individuals who are participants in retirement plans.

United States · United States Congress · 31 January 1978

Amends the Internal Revenue Code to allow individuals, who are participants in a retirement plan, an income tax deduction for contributions to an individual retirement (IRA) account. Limits such deduction to the amount allowed individuals for contributions to IRA accounts, reduced by the amounts contributed by or on behalf of the individual to the plan in which he is a participant.

Bill· HRH.R. 10653 (95th)referred

A bill to amend the Internal Revenue Code of 1954 with respect to the redemption of United States Railway Association certificates of value issued to railroads in reorganization.

United States · United States Congress · 31 January 1978

Amends the Internal Revenue Code to allow income derived from a certificate of value of the United States Railway Corporation issued to a corporation which is a member of an affiliated group of corporations to be offset by the expired net operating loss carryover deductions of other members of the affiliated group.

Bill· HRH.R. 10662 (95th)referred

Tax Averaging Equity Act

United States · United States Congress · 31 January 1978

Tax Averaging Equity Act - Amends the Internal Revenue Code to exempt certain individuals utilizing income averaging from the minimum income attribution rules for former spouses.

Bill· HRH.R. 10645 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to eliminate the adjusted gross income limitation on the credit for the elderly, to increase the amount of such credit, and for other purposes.

United States · United States Congress · 31 January 1978

Amends the Internal Revenue Code to: (1) remove the adjusted gross income limitation on the credit for the elderly; (2) increase the amount of the credit; and (3) provide an annual cost-of-living adjustment for the credit.

Bill· HRH.R. 10640 (95th)referred

Small Business Tax Reform Act

United States · United States Congress · 31 January 1978

Small Business Tax Reform Act - Amends the Internal Revenue Code to replace the corporate income tax rates with a graduated, five-tier rate schedule, imposing the uppermost (48 percent) marginal rate upon income in excess of $100,000.

Bill· HRH.R. 10636 (95th)referred

Estate and Gift Tax Amendments Act

United States · United States Congress · 31 January 1978

Estate and Gift Tax Amendments Act - Amends the Internal Revenue Code to increase the minimum value for carryover basis property from $60,000 to $175,000. Specifies formulae for determining adjustments to basis for December 31, 1976, fair market value for marketable bonds and securities and other property, and minimum basis for non-business tangible personal property and personal residence. Amends the formula for computing the income tax deduction for estate taxes paid on income in respect of a decedent. Specifies a new formula for the increase in the basis of gifts because of the Federal gift tax paid attributable to appreciation, and allows an increase in basis for the amount of a State gift tax by the amount of such tax attributable to appreciation in value of the gift. Expands the material participation criteria for the special use valuation of certain farm and other real property to provide for the satisfaction of the requirement where the decedent or his spouse has so participated for any 20 years before the decedent's death. Revises the material participation requirement for heirs to allow satisfaction of the requirement by an heir's agents or fiduciaries under specified conditions.

Bill· HRH.R. 10628 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow any State taxing authority which receives Federal tax return information to disclose such information to a State auditing agency for the purpose of auditing the activities of the taxing authority.

United States · United States Congress · 31 January 1978

Amends the Internal Revenue Code to allow any State taxing authority which receives Federal tax return information to disclose such information to a State auditing agency for the purpose of auditing the activities of the taxing authority.

Bill· HRH.R. 10624 (95th)referred

A bill to repeal the carryover basis provisions added by the Tax Reform Act of 1976.

United States · United States Congress · 31 January 1978

Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property's basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent.

Bill· HRH.R. 10623 (95th)referred

A bill to improve the operations of the National sea grant program, to authorize appropriations to carry out such program for fiscal years 1979 and 1980, and for other purposes.

United States · United States Congress · 31 January 1978

Amends the Marine Resources and Engineering Development Act of 1966 to redesignate title II of the Act as the National Sea Grant College Program. Authorizes appropriations to carry out the purposes of the Program for fiscal years 1979 and 1980. Authorizes the Secretary of Commerce to accept funds from Federal departments and agencies to pay for certain contracts and grants relating to the Program. Amends the Sea Grant Program Improvement Act of 1976 to authorize appropriations to carry out the purposes of the Act during fiscal years 1978, 1979, and 1980.

Bill· HRH.R. 10617 (95th)referred

Estate and Gift Tax Amendments Act

United States · United States Congress · 30 January 1978

Estate and Gift Tax Amendments Act - Amends the Internal Revenue Code to increase the minimum value for carryover basis property from $60,000 to $175,000. Specifies formulae for determining adjustments to basis for December 31, 1976, fair market value for marketable bonds and securities and other property, and minimum basis for non-business tangible personal property and personal residence. Decreases from $100 to $50 per failure the penalty an executor must pay for failing to furnish beneficiaries specified information with respect to carryover basis property. Amends the formula for computing the income tax deduction for estate taxes paid on income in respect of a decedent. Specifies a new formula for the increase in the basis of gifts because of the Federal gift tax paid attributable to appreciation, and allows an increase in basis for the amount of a State gift tax by the amount of such tax attributable to appreciation in value of the gift. Deems an agricultural or horticultural commodity sold or exchanged by an estate property used in a trade or business, if such sale or exchange occurs during the year following the decedent's death, even though the estate did not engage in farming. Expands the material participation criteria for the special use valuation of certain farm and other real property to provide for the satisfaction of the requirement where the decedent or his spouse has so participated for any 15 years before the decedent's death. Revises the material participation requirement for heirs to allow satisfaction of the requirement by an heir's agents or fiduciaries under specified conditions. Requires the uniform definition of interests in closely held businesses for purposes of qualifying for the alternative time extensions for paying estate taxes on estates consisting mostly of such businesses. Extends the capital gains treatment for redemptions of stock of a closely held business to pay estate taxes to the amount necessary to pay the income taxes generated by the redemption.

Bill· SS. 2433 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to increase certain limitations on the deduction of expenditures by farmers for clearing land.

United States · United States Congress · 26 January 1978

Amends the Internal Revenue Code to change the maximum deduction allowed farmers for the expenses of clearing land from the lesser of $5,000 or 25 percent of the taxable income derived from farming to a flat $12,000. Limits the deduction to taxpayers who have been engaged in farming for two taxable years preceding the year in which the deduction is claimed.

Bill· SS. 2436 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a tax credit to employers who hire unemployed youths.

United States · United States Congress · 26 January 1978

Amends the Internal Revenue Code to: (1) remove the limitation on the amount of the income tax credit allowed employers who hire unemployed individuals; (2) make the credit refundable; (3) limit the types of tax against which the credit may be applied; and (4) restrict its application to the hiring of individuals between the ages of 16 and 19.

Bill· HRH.R. 10594 (95th)referred

A bill to clarify Section 119 of the Internal Revenue Code of 1954 by an amendment making it clear that meals provided in kind by an employer to an employee may be considered furnished for the convenience of the employer without regard to whether a charge is made or whether the employee is required to accept such meals.

United States · United States Congress · 26 January 1978

Amends the Internal Revenue Code to provide that meals furnished by an employer to an employee may be considered furnished for the convenience of the employer (and the value excluded from the employee's gross income) without regard to whether a charge is made or whether the employee is required to accept such meals.

Bill· HRH.R. 10573 (95th)referred

Small Business Tax Reform Act

United States · United States Congress · 26 January 1978

Small Business Tax Reform Act - Amends the Internal Revenue Code to replace the corporate income tax rates with a graduated, five-tier rate schedule, imposing the uppermost (48 percent) marginal rate upon income in excess of $100,000.

Bill· HRH.R. 10582 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt from Federal income tax a trust established by a taxpayer for the purpose of providing care for certain mentally incompetent dependents of the taxpayer.

United States · United States Congress · 26 January 1978

Amends the Internal Revenue Code to exempt from taxation the income of trusts established to care for mentally incompetent relatives. Excludes distributions from such trusts from the gross income of the beneficiary so long as the distribution is received by someone other than a family member of the grantor of the trust.

Bill· HRH.R. 10576 (95th)referred

A bill to amend title 4 of the United States Code to restrict the authority of any State or political subdivision to impose any income tax on any compensation paid to any individual who is not a domiciliary or resident of such State or political subdivision.

United States · United States Congress · 26 January 1978

Prohibits any State or political subdivision thereof, including the District of Columbia, from treating as taxable income any compensation paid by any employer to any individual who is not a resident or domiciliary of such State or political subdivision.

Bill· HRH.R. 10591 (95th)referred

A bill to encourage home ownership by amending the Internal Revenue Code of 1954 to allow a deduction for certain contributions to an individual housing account.

United States · United States Congress · 26 January 1978

Amends the Internal Revenue Code to allow individuals an income tax deduction of up to $2,500 annually and $10,000 in a lifetime for contributions to an individual housing account. Makes such accounts tax exempt and allows distributions from such an account to be tax free if such distributions are used exclusively for the purchase of a principal residence for the distributee.

Bill· HRH.R. 10542 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction of not more than $1,500 for amounts paid or incurred for maintaining a household a member of which is a dependent of the taxpayer who has attained the age of 65.

United States · United States Congress · 25 January 1978

Amends the Internal Revenue Code to allow a deduction of up to $1,500 for household expenses to any taxpayer who maintains a household in which a dependent aged 65 or over resides.

Bill· HRH.R. 10559 (95th)referred

Tuition Tax Credit Act

United States · United States Congress · 25 January 1978

Tuition Tax Credit Act - Amends the Internal Revenue Code to allow a credit against an individual's income tax in an amount equal to 50 percent of the sum of the amounts paid by him to educational institutions as tuition (though no more than $500 for any single individual) for the attendance of the taxpayer, the taxpayer's spouse, or any of his dependents with respect to whom he is entitled to a personal exemption.

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