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Bill· HRH.R. 332 (100th)referred
United States · United States Congress · 6 January 1987
Non-Discrimination in Advertising Act of 1987 - Amends the Internal Revenue Code to disallow an income tax deduction for the expenses of advertising to persons who discriminate against minority owned or formatted communications entities in the purchase or placement of advertisements. Establishes a private civil action for any person aggrieved by anyone purchasing or placing any advertisement in a manner which discriminates against any communications entity by reason of race, color, or ethnic background.
Bill· HRH.R. 116 (100th)open
United States · United States Congress · 6 January 1987
Establishes National Tax Liberation Day as a legal public holiday. Amends the Internal Revenue Code to set such day, which represents the day on which the average taxpayer stops working for the Government's benefit and begins working for his or her own benefit, as the deadline for filing Federal income tax returns.
Bill· HRH.R. 199 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Public Works and Economic Development Act of 1965 to extend through FY 1990 the authorization of appropriations in the following areas: (1) general authorization of appropriations; (2) public works and development facility loans; (3) technical assistance and economic development planning; and (4) special economic development and adjustment assistance to areas with high unemployment, economic dislocation, or long-term economic deterioration problems. Amends the Appalachian Regional Development Act of 1965 (ARDA) to authorize appropriations through FY 1990 for: (1) the administrative expenses of the Appalachian Regional Commission; (2) the leasing of office space for the Commission; (3) the Appalachian development highway system; and (4) general implementation of ARDA. Extends the termination date for ARDA until October 1, 1990.
Bill· HRH.R. 311 (100th)referred
United States · United States Congress · 6 January 1987
Requires the President to transmit to the Congress, and the Committee on the Budget of each House to report to the Congress, a balanced budget for each fiscal year beginning with FY 1989. Authorizes the President or Budget Committees to submit alternative budgets providing for a surplus or deficit upon determining that a balanced budget would be inappropriate for a fiscal year. Requires any alternative budget to include a comprehensive plan to balance the budget.
Bill· HRH.R. 150 (100th)referred
United States · United States Congress · 6 January 1987
Amends the District of Columbia Self-Government and Governmental Reorganization Act to repeal the limitation on the Council of the District of Columbia regarding the imposition of any tax upon individuals who are non-residents of the District.
Bill· HRH.R. 294 (100th)referred
United States · United States Congress · 6 January 1987
Minority Telecommunications Ownership Tax Act of 1987 - Amends the Internal Revenue Code to allow an investment tax credit for the purchase of used telecommunications property pursuant to a Federal Communications Commission tax certificate. Defines "FCC tax certificate" as any certificate granted by the Federal Communications Commission which provides that the purchase of the property is necessary or appropriate to effectuate an FCC policy with respect to the ownership and control of systems of communication by wire or radio. Extends the nonrecognition of gain for FCC-certified sales or exchanges of radio broadcasting stations to systems of communications by wire or radio.
Bill· HRH.R. 301 (100th)referred
United States · United States Congress · 6 January 1987
Federal Tax Delinquency Amnesty Act of 1987 - Provides for a one-time amnesty from criminal and civil tax penalties for a taxpayer who: (1) files a written statement with specified information concerning any underpayment of tax; (2) pays the amount of such underpayment when filing the statement; and (3) within 30 days of notification of 50 percent of the amount of interest payable on any tax delinquent amount, pays the amount of such interest or delinquency. Permits installment payments in certain cases. Defines the amnesty period as the period from July 1, 1987, to December 31, 1987, or the six-month period beginning the first July 1 after the enactment of this Act. Applies such amnesty to all payments relating to tax periods or taxable events before January 1, 1986. Disallows such amnesty where: (1) the taxpayer was contacted before a statement was filed; (2) there was fraud in seeking amnesty; (3) a criminal investigation is pending; or (4) the income involved is illegal source income. Authorizes appropriations to administer such amnesty program and to employ 3,000 additional Internal Revenue Service agents. Increases criminal and civil tax penalties by 50 percent.
Bill· HRH.R. 304 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to provide that in the case of a retroactive termination of the community under applicable community property laws relating to divorce or separate maintenance, an item earned by one spouse shall not be includible in the gross income of the other spouse, if the other spouse: (1) did not receive an interest in the item of income under the decree; and (2) did not exercise control over the item of income earned on or after the date on which the community was terminated.
Bill· HRH.R. 269 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to exclude from gross income gain from the sale or exchange of certain farmland if the use of such land is restricted to farming by a covenant binding all future owners of such land.
Bill· HRH.R. 265 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to repeal the withholding tax requirements with respect to gambling winnings. Requires information returns for gambling winnings only for payments of $10,000 or more. Provides a three-year carryover and carryback for net gambling losses.
Bill· HRH.R. 246 (100th)referred
United States · United States Congress · 6 January 1987
Competition Enhancement and Tax Relief Act of 1987- Amends the Internal Revenue Code to allow a five percent investment tax credit after 1987 for tangible property which: (1) is used as a part of manufacturing, production, or extraction or of furnishing transportation, communications, electrical energy, gas water, or sewage disposal services; (2) constitutes a research facility used in connection with such activities; or (3) constitutes a facility used in connection with such activities for the bulk storage of fungible commodities. Exempts from estate taxes the transfer of an interest in a closely held business to a qualified heir of the decendent. Exempts from gift taxes the transfer of an interest in a closely held business to a member of the donor's family. Allows the nonrecognition of gain realized from the sale or exchange of the entire interest in an unincorporated trade or business to the extent such gain is used within a 24-month period to purchase property used in an unincorporated trade or business which is entirely owned by the taxpayer. Increases from $10,000 to $25,000 the annual limitation on the expensing of certain depreciable business assets. Requires the public availability of the annual returns of tax-exempt organizations. Denies special mailing privileges to organizations which are taxed on unrelated business income. Makes applicable to the Internal Revenue Service provisions of the Regulatory Flexibility Act relating to rule making. Provides that, for purposes of employee benefit plans, a leasing organization shall be deemed to be the sole employer of a leased employee if: (1) the organization retains the right to hire, transfer, pay, and direct the manner of the employee's performance of services; (2) the organization is responsible for paying its employees regardless of receiving fees from the recipient; (3) any employee benefits provided are comparable and nondiscriminatory among all employees; and (4) the organization bills the recipient on a total fee rather than a direct cost pass-through basis.
Bill· HRH.R. 234 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to exempt from the penalty for failure to pay estimated income tax certain individuals who have attained age 62 if: (1) the taxable income of such individual is less than $20,000 ($30,000 for a joint return); and (2) more than 50 percent of the gross income of such individual is retirement income.
Bill· HRH.R. 264 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to exclude from gross income the net legal wagering gains of a taxpayer who is not engaged in the trade or business of placing wagers. Sets forth the method of calculating net legal wagering gains.
Bill· HRH.R. 260 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to increase the excise tax on cigarettes from: (1) $8 to $16 per thousand for small cigarettes; and (2) $16.80 to $33.60 per thousand for large cigarettes. Imposes a floor stock excise tax on small and large cigarettes.
Bill· HRH.R. 226 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to allow handicapped individuals an income tax deduction for expenses incurred in commuting between their residence and their principal place of employment.
Bill· HRH.R. 231 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to allow a refundable income tax credit to any individual who maintains a household which includes one or more qualified elderly persons. Sets the amount of such credit at $1,000 for each such elderly person living in the household. Limits the aggregate amount creditable to $2,000 on any return for the taxable year. Defines "qualified elderly person" as any individual who: (1) has attained age 65; (2) has an impairment which, as determined by a physician, renders such individual physically or mentally incapable of caring for himself and has lasted or is expected to last six months or longer; and (3) has as a principal place of abode for more than half of the taxable year the home of the taxpayer.
Bill· HRH.R. 225 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to allow a taxpayer an income tax deduction for expenses paid for the higher education of the taxpayer or a dependent. Limits the amount of such deduction to $1,000 for each dependent per taxable year.
Bill· HRH.R. 232 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to allow an income tax deduction for expenses incurred for dependent care services while the taxpayer performs volunteer work for civic and charitable organizations. Limits such deduction to $400 per month. Reduces the allowable amount of such deduction by one-fourth of the amount by which the taxpayer's adjusted gross income exceeds $20,000. Prohibits a deduction for any amounts paid to a relative of the taxpayer for dependent care services.
Bill· HRH.R. 146 (100th)referred
United States · United States Congress · 6 January 1987
Tax Relief for Elderly Pensioners Act - Amends the Internal Revenue Code to exclude from the gross income of individuals age 65 or over amounts received as annuities, pensions, or other retirement benefits. Limits the exclusion to $7,500 for single individuals and $10,000 for joint returns.
Bill· HRH.R. 130 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Tax Reform Act of 1986 to repeal provisions which eliminated the three-year use of the basis recovery rule in computing the amount of an employee's retirement benefits includable in gross income. Provides that the Internal Revenue Code shall be applied and administered as if such provisions had not been enacted.
Bill· HRH.R. 122 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to allow qualified farmers to use income averaging. Defines "qualified farmer" as a person who: (1) is actively engaged in the trade or business of farming; and (2) has 50 percent or more of income for the three preceding taxable years which is attributable to such trade or business.
Bill· HRH.R. 144 (100th)referred
United States · United States Congress · 6 January 1987
Tax Relief for the Unemployed Act - Amends the Internal Revenue Code to repeal the inclusion in gross income of unemployment compensation.
Bill· HRH.R. 129 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to: (1) require that requests to waive the minimum funding standards for certain pension plans by reason of substantial business hardship be accompanied by a list of the plan participants; and (2) direct the Secretary of the Treasury to make public any request for such a waiver and to provide for a 60-day comment period at the close of which a public hearing shall be held at which interested parties may testify about such request.
Bill· HRH.R. 110 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to exclude tips from gross income.
Bill· HRH.R. 119 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to repeal the estate tax, the gift tax, and the tax on generation-skipping transfers.
Bill· HRH.R. 113 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to make permanent the deduction for charitable contributions by taxpayers who do not itemize deductions.
Bill· HRH.R. 94 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to allow individual taxpayers who have attained the age of 18 an income tax deduction for contributions (cash or readily tradeable securities) to a savings account established for the exclusive purpose of financing the taxpayer's first principal residence. Limits the aggregate amount allowable as a deduction under this Act to any individual for any taxable year to 15 percent of such individual's adjusted gross income. Provides that the amount allowable as a deduction to all taxpayers for amounts paid or transferred to a house savings account may not exceed $1,500 ($3,000 for accounts of married couples). Provides for a $15,000 maximum lifetime deduction ($30,000 for joint returns), with annual inflation adjustments. Limits to ten years the period during which deductible contributions may be made to housing savings accounts. Prohibits any individual from being a beneficiary of more than one account. Excludes distributions from a housing savings account from the gross income of its beneficiary if such distributions are used exclusively for the purchase of a principal residence. Exempts a housing savings account from taxation. Provides for the forfeiture of such exemption where the taxpayer uses the account for certain prohibited purposes. Imposes a penalty on distributions from an account which are used for a prohibited purpose. Requires the trustee of a housing savings account to file a report on the maintenance of the account. Imposes a penalty for the failure to file any required report. Imposes: (1) a six percent excise tax on excess contributions to a housing savings account; and (2) a five percent excise tax on amounts connected with any prohibited transaction with respect to such an account.
Bill· HRH.R. 109 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to reduce the alternative tax on capital gains realized by a corporation from 34 percent to ten percent of net capital gains. Provides for cost-of-living adjustments to such rate. Eliminates the holding period requirement for capital assets.
Bill· HRH.R. 111 (100th)referred
United States · United States Congress · 6 January 1987
Crane Tithe Tax Act of 1987 - Amends the Internal Revenue Code to repeal: (1) the corporate income tax; (2) the corporate minimum tax; (3) the tax on unrelated business income of tax-exempt organizations; (4) the tax on accumulated earnings of a corporation; (5) the personal holding company tax; (6) the alternative tax for certain mutual savings banks; (7) the tax on life insurance companies; (8) the tax on certain mutual insurance companies; (9) the tax on certain types of insurance companies; (10) the tax on regulated investment companies; (11) the tax on real estate investment trusts; and (12) the tax on income of foreign corporations connected with U.S. businesses. Revises the individual income tax to impose a ten percent tax on the earned income of an individual in excess of a $10,000 exemption amount. Provides for annual cost-of-living adjustments to such exemption amount. Defines "earned income" as: (1) wages, salaries, and other employee compensation; (2) the amount of net earnings from self-employment; and (3) the amount of dividends from a personal service corporation or which are otherwise directly or indirectly compensation for services. Exempts from earned income: (1) any amount received as a pension or annuity; and (2) tips. Provides for a general amnesty for any tax (or for penalties and interest with respect to such tax) for any taxable year ending on or before January 6, 1987. Repeals all specific exclusions from gross income, all deductions, and all income tax credits to the extent related to the computation of individual income tax liability. Repeals the estate and gift taxes.
Bill· HRH.R. 112 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to allow married individuals filing separate income tax returns to elect to be taxed at rates applicable to unmarried individuals.
Bill· HRH.R. 93 (100th)referred
United States · United States Congress · 6 January 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 educational expenses (tuition, supplies, meals, and lodging) of an eligible beneficiary at an institution of higher education or a vocational school. Limits the amount of such deduction to $1,000 (adjusted for inflation) for each account per calendar year. Disallows any deduction for contributions to an account for individuals who have attained age 19. Provides that no account may have more than one beneficiary and that no individual may be a beneficiary of more than one account. Permits the deferral of income tax on payments and distributions from such education savings accounts as long as such amounts are used exclusively for educational expenses. Imposes penalties for the use of account funds for other than educational purposes. Requires that the trustee of an education savings account file reports with the Secretary of the Treasury on the maintenance of the account. Imposes penalties for not filing required reports. Extends the deduction for contributions to an educational savings account to taxpayers who do not otherwise itemize deductions. Requires that amounts distributed from an education savings account be included in the gross income of the recipient unless the distribution is made to another education savings account or to an eligible education institution, or unless the distribution is a distribution of excess contributions before the due date of the tax return. Provides that for the ten tax years beginning when the individual attains age 27, ten percent of the amount paid or distributed from an education savings account to pay education expenses incurred by the individual for whose benefit the account was established shall be included in the gross income of the individual each year. Exempts such education savings accounts from taxation, except for the tax on unrelated business income of a charitable organization. Provides that contributions to an education savings account are not subject to gift tax. 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.
Bill· HRH.R. 88 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to allow a deduction of an additional exemption 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· HRH.R. 45 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to provide that the value of transportation provided to any person on a noncommercially operated aircraft shall be considered "no-additional-cost service" and therefore excludible from gross income if: (1) such transportation is provided on a flight made in the ordinary course of the trade or business of the taxpayer owning or leasing such aircraft for use in such trade or business; (2) the flight on which the transportation is provided would have been made whether or not such person was transported on the flight; and (3) no substantial additional cost is incurred in providing such transportation to such person.
Bill· HRH.R. 41 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to repeal the termination date of and make permanent: (1) the exemption for early withdrawals from employee stock option plans from the ten percent additional income tax; (2) the exemption from the ten percent excise tax on excess assets recovered by a sponsor of a terminated defined benefit plan, if excess assets are transferred to an employee stock option plan; and (3) the exclusion of 50 percent of the proceeds from the sale of certain stock to an employee stock option plan for estate tax purposes.
Bill· HRH.R. 44 (100th)referred
United States · United States Congress · 6 January 1987
Amends the Internal Revenue Code to repeal the windfall profit tax on domestic crude oil.
Bill· HRH.R. 24 (100th)referred
United States · United States Congress · 6 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· HJRESH.J.Res. 29 (100th)open
United States · United States Congress · 6 January 1987
Constitutional Amendment - Requires a two-thirds vote of each House of the Congress to increase taxes.
Bill· HJRESH.J.Res. 11 (100th)open
United States · United States Congress · 6 January 1987
Constitutional Amendment - Prohibits total Federal expenditures from exceeding net revenues. Authorizes suspension of such prohibition in time of war or national economic emergency upon the concurrence of two-thirds of the Members of each House of the Congress. Requires the Congress, with respect to such a suspension, to consider the extent and rate of industrial activity, unemployment, inflation, and other appropriate factors.
Resolution· HCONRESH.Con.Res. 10 (100th)referred
United States · United States Congress · 6 January 1987
Expresses the sense of the Congress that the President's FY 1988 budget request for activities related to acquired immune deficiency syndrome should not be reduced.
Resolution· HCONRESH.Con.Res. 7 (100th)referred
United States · United States Congress · 6 January 1987
Expresses the sense of the Congress that the rate reductions contained in the Tax Reform Act of 1986 for the years 1987, 1988, and thereafter should take effect as scheduled in such Act.