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Bill· HRH.R. 200 (99th)open
United States · United States Congress · 3 January 1985
Ten Percent Flat Tax Rate Act - Title I: Ten Percent Tax Rate For All Individuals And Unincorporated Associations - Amends the Internal Revenue Code to impose a flat rate tax of ten percent on the adjusted gross income of individuals and unincorporated associations. Defines "unincorporated association" as any taxable entity which is not incorporated pursuant to the laws of any State, the United States, or any foreign nation. Repeals the income tax credits for: (1) the elderly; (2) contributions to candidates for public office; (3) the purchase of a new principal residence; (4) dependent care expenses; (5) earned income; and (6) residential energy conservation expenses. Repeals the alternative minimum tax for taxpayers other than corporations. Provides that specified income tax credits shall not be available to individuals and unincorporated associations. Excludes from the gross income of individuals or unincorporated associations: (1) alimony and separate maintenance payments; (2) scholarship payments and fellowship grants; (3) social security payments; (4) excess social security tax payments; (5) payments received for disability; (6) payments received pursuant to the Railroad Retirement Act; (7) certain civil service retirement benefits; and (8) interest payments received on State and municipal bonds. Defines "adjusted gross income" in the case of an individual or unincorporated association as gross income minus: (1) trade or business deductions; (2) trade and business deductions of employees; and (3) expenses relating to income production. Disallows certain exclusions from the gross income of individuals and unincorporated associations, including exclusions for: (1) certain death payments; (2) gifts and inheritances; (3) injury or sickness compensation; (4) employer contributions to accident and health plans; (5) partial dividends; (6) contributions to corporation capital; and (7) dependent care assistance. Allows deductions from the adjusted gross income of individuals for personal exemptions. Sets the amounts of such exemptions at: (1) $2,000 for the taxpayer and spouse; and (2) $2,000 for each dependent of the taxpayer. Provides for cost-of-living adjustments for such amounts. Disallows all itemized deductions for individuals and unincorporated associations except those for interest, taxes, charitable contributions, and certain retirement savings. Repeals the income tax deductions for: (1) medical and dental expenses; (2) alimony payments; (3) taxes, interest, and business depreciation by cooperative housing tenant-stockholders; (4) two-earner married couples; and (5) adoption expenses. Imposes a flat rate tax of ten percent on the gross income of estates and trusts. Repeals special rules, income tax deductions, and income tax credits applicable to estates and trusts. Revises rules for determining the income tax of a partner to provide that each partner shall take into account separately his or her distributive share of the partnership's: (1) gains and losses; (2) taxes; and (3) taxable income or loss. Provides that the foreign tax credit shall not apply to unincorporated associations. Repeals the estate tax. Title II: Tax Amnesty - Provides for a one-time amnesty from criminal and civil tax penalties for taxpayers who: (1) file a written statement with specified information concerning any underpayment of tax; (2) pay the amount of such underpayment when filing the statement; and (3) within 30 days of notification of the amount of interest payable on any tax delinquent amount, pay the full amount of such interest or delinquency. Permits installment payments of tax due in certain cases. Disallows an amnesty period for taxpayers against whom a tax deficiency has already been assessed, who have committed fraud in seeking amnesty, or against whom a criminal investigation is pending. Establishes a special fund in the Treasury for taxes recovered under such amnesty program. Requires that revenues from such fund be used to offset possible revenue losses.
Bill· HRH.R. 38 (99th)referred
United States · United States Congress · 3 January 1985
Enterprise Zone Act of 1985 - Title I: Designation of Enterprise Zones - Amends the Internal Revenue Code to provide for the designation of enterprise zones by the Secretary of Housing and Urban Development for purposes of extending the tax incentives and regulatory flexibility measures provided by this Act. Provides that State and local governments shall nominate areas for such designation. Limits the designation of enterprise zones to 75 nominated areas over a 36-month period (one-third of which must be in rural areas). Limits the period during which such designations shall remain in effect. Provides that the Secretary may designate such zones only if: (1) the area is within the jurisdiction of the local government; (2) the boundary of the area is continuous; (3) the area has a population of at least 4,000 if any portion thereof is located within a standard metropolitan statistical area (with a population of at least 50,000) or 1,500 otherwise, or is within an Indian reservation; and (4) the area meets specified unemployment and poverty requirements. Requires nominating local governments, as a condition of the Secretary's designation, to agree in writing to follow a course of action which may include reducing tax rates, improving local services, simplifying or streamlining regulation of business, or receiving commitments of private entities to assist employees and residents of the area. Terminates the authority of the Secretary to designate enterprise zones on June 30, 1988, or three years after the publication of regulations pertaining to such zones, whichever is later. Describes areas to which preference shall be given in deciding to designate enterprise zones. Requires the Secretary to prepare and submit to the Congress every four years a report on the effects of such enterprise zones' designation. Requires that any property tax reduction effected by a local government under the terms of this Act be disregarded for purposes of determining the eligibility of a State or local government for Federal assistance or benefits. States that designation of an enterprise zone shall not give displaced persons from such an area any rights or benefits under the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970. Exempts enterprise zones from certain requirements relating to Federal environmental policy. Title II: Federal Income Tax Incentives - Subtitle A: Credit for Employers and Employees - Allows employers located in enterprise zones a nonrefundable income tax credit for increased employment expenditures and employment of the disadvantaged. Allows a three-year carryback and 15-year carryover of such credit. Sets the amount of such credit at ten percent of the increase in payroll (taking into account a maximum of $15,000 in wages per year per employee) plus 50 percent of the wages paid to certain disadvantaged workers for the first three years of the enterprise zone designation. Phases out such credit in the last three years of the enterprise zone designation. Disallows a deduction for the portion of wages taken into account for such credit. Allows employees located in enterprise zones a nonrefundable income tax credit equal to five percent of qualified wages earned per year (taking into account a maximum of $9,000 in wages per year). Phases out such credit in the last three years of the enterprise zone designation. Subtitle B: Credits for Investment in Tangible Property in Enterprise Zones - Allows businesses an additional investment tax credit for investment in certain tangible property located in enterprise zones. Limits such credit to five percent for zone personal property and ten percent for new zone construction property, including rental property. Requires that the property subject to such credit be predominantly used in the zone, be purchased after zone designation, and not be acquired from relatives or related corporations. Requires the recapture of such credit upon early disposition of the property. Phases out such credit in the last three years of the enterprise zone designation. Subtitle C: Rules Reduction in Capital Gain Tax Rates - Eliminates the capital gains tax on property of corporations acquired after the enterprise zone designation and used in a zone business. Qualifies certain low-income rental housing located in an enterprise zone for such treatment. Permits property to remain qualified for purposes of the revised capital gains treatment after a designation of an enterprise zone has terminated. Exempts gain from the sale or exchange of property used in a business in an enterprise zone from the computation of the minimum tax. Allows noncorporate taxpayers to deduct from gross income 100 percent of any net capital gain from qualified enterprise zone property. Subtitle D: Rules Relating to Industrial Development Bonds - Provides that limitation on the cost recovery deductions for property financed with tax-exempt industrial development bonds shall not apply to enterprise zone property. Provides that the termination of the small issue exemption shall not apply to industrial development bonds the proceeds of which are used to finance facilities in such enterprise zones. Subtitle E: Sense of the Congress with Respect to Tax Simplification - Expresses the sense of the Congress that the Internal Revenue Service should simplify the administration and enforcement of any provision of the Internal Revenue Code affected by this Act. Title III: Regulatory Flexibility - Revises the definition of "small entity" for purposes of the analysis of regulatory functions to include qualified businesses (as defined in Title II of this Act) and governments and nonprofit enterprises operating within enterprise zones. Authorizes Federal agencies, upon request by a designating government, to waive or modify rules and regulations which pertain to the carrying out of projects or activities within an enterprise zone. Requires agencies to approve such request if the resulting benefits of job creation, community development, or economic revitalization outweigh the public interest in continuation of the rule unchanged. Disallows waiver or modification of a rule that would directly violate a statutory requirement (including the Davis-Bacon Act and Fair Labor Standards Act) or which would present a danger to the public health and safety. Provides that such waivers or modifications of a rule shall remain in effect as long as the zone designations. Amends the Department of Housing and Urban Development Act to direct the Secretary of Housing and Urban Development to promote the coordination of all enterprise zone programs and consolidate all periodic reports required under such programs into one summary report. Title IV: Establishment of Foreign-Trade Zones in Enterprise Zones - Requires the Foreign-Trade Board to consider on a priority basis and expedite the processing of applications for the establishment of foreign trade zones within enterprise zones. Requires the Secretary of the Treasury to give priority to, and expedite applications for, the establishment of ports of entry necessary to establish such zones. States that, to the maximum extent practicable, foreign-trade zones should be established within enterprise zones.
Bill· HRH.R. 98 (99th)referred
United States · United States Congress · 3 January 1985
Establishes National Tax Liberation Day as a legal public holiday.
Bill· HRH.R. 199 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to allow a nonrefundable income tax credit equal to one-half the amount of health insurance premiums paid by taxpayer during the taxable year for the taxpayer's medical care or for the medical care of a spouse or dependent. Limits the dollar amount of such credit to $250 for the taxable year. Allows the deduction of such premiums along with other medical and dental expenses to the extent that they exceed three percent of the taxpayer's adjusted gross income. Reduces the amount of medical expenses allowable as a deduction by the amount allowable to the taxpayer as a credit for health insurance premium payments. Requires the Secretary of the Treasury to conduct a study of the health insurance premium credit every third year after the enactment of this Act and to report the findings to the Congress.
Bill· HRH.R. 193 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Tax Equity and Fiscal Responsibility Act of 1982 to repeal provisions which impose the hospital insurance tax on Federal employees.
Bill· HRH.R. 144 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to repeal the inclusion in gross income of unemployment compensation.
Bill· HRH.R. 145 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to increase from $12,000 to $20,000 (from $18,000 to $25,000 in the case of a married taxpayer filing a joint return) the base amount beyond which unemployment compensation must be included in gross income.
Bill· HRH.R. 92 (99th)referred
United States · United States Congress · 3 January 1985
Self-Employed Tax Status Clarification Act of 1985 - Amends the Internal Revenue Code to specify three alternative standards for determining whether certain individuals are self-employed for purposes of social security taxation. Treats an individual as self-employed if: (1) such individual controls the total number of his or her work hours; (2) such individual does not maintain a principal place of business, or, if he or she does, such place of business is not provided, or is not provided rent-free, by the person for whom such individual performs services; (3) such individual has substantial investment in his or her business and earns income based upon sales or output rather than upon number of hours worked; (4) such individual performs services pursuant to a written contract and is provided written notice of his or her responsibility with respect to income and self-employment taxes; and (5) the recipient of such individual's services files returns disclosing payments made to such individual. Treats an individual as self-employed if such individual: (1) has a substantial investment in the assets used to perform such service; (2) owns the assets or holds them under a lease agreement; (3) is responsible for the maintenance of the assets; (4) bears the principal burden of the operating costs of the assets; (5) is responsible for supplying personal services necessary in the performance of the business; and (6) performs such services pursuant to a contract. Provides that failure of the taxpayer to file information returns with respect to remuneration received while self-employed shall not disqualify him or her from being treated as self-employed unless such failure is willful or intentional. Treats an individual as self-employed if such individual performs similar services for five or more clients during the preceding year or is expected to perform services for five or more such clients during the taxable year. States that no inference shall be made about the employment status of a taxpayer for failure to comply with any of the criteria specified by this Act. Requires the Secretary of the Treasury to report to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate on taxpayer compliance with the self-employment criteria specified by this Act.
Bill· HRH.R. 3 (99th)referred
United States · United States Congress · 3 January 1985
Requires the President to transmit to Congress for FY 1986 and each fiscal year thereafter a balanced budget. Permits the transmittal of alternate budget proposals which, if implemented, would result in a deficit or surplus if the President determines that a balanced budget is inappropriate for any fiscal year. Requires that any such alternate budget proposals for a fiscal year include a comprehensive plan to balance the Federal budget. Requires the Committee on the Budget of each House to report by April 15 of every year a balanced budget for the upcoming fiscal year. Requires the Committee on the Budget of either House also to report a comprehensive plan to balance the Federal budget, if it determines that a balanced budget is inappropriate for any fiscal year.
Bill· HRH.R. 223 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to exclude from gross income amounts received by law enforcement officers as statutory or negotiated subsistence allowances. Limits such exclusion to five dollars per day.
Bill· HRH.R. 208 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to allow pensioners under a public retirement system, other retirees who are age 65 or over, or disabled or handicapped individuals an exclusion from gross income for any amount received as an annuity, pension, or other retirement benefit up to $10,000.
Bill· HRH.R. 210 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to allow an individual taxpayer a $25 income tax deduction from gross income for each pint of blood donated during the taxable year.
Bill· HRH.R. 196 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to provide an additional $1,000 personal tax exemption for a taxpayer, his spouse, or a dependent who is handicapped. Defines "handicapped" as a physical or mental impairment of a permanent nature which constitutes a substantial handicap to employment or education.
Bill· HRH.R. 194 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to extend to permanently and totally disabled persons the one-time exclusion from gross income of gain from the sale of a principal residence which is currently limited to persons who have attained age 55. Defines "permanently and totally disabled" and requires individuals to furnish proof of such disability in order to qualify for such exclusion.
Bill· HRH.R. 197 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to provide that the standard mileage rate used in computing the charitable deduction for expenses incurred in the operation of a motor vehicle shall be the same as the standard mileage rate established by the Secretary of the Treasury for the business-related deduction.
Bill· HRH.R. 188 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to permit a married taxpayer filing a joint return to deduct from gross income certain amounts paid to an individual retirement account established for the benefit of a working spouse. Increases from $1,125 to $2,000 the allowable deduction for contributions to an individual retirement account for certain divorced taxpayers.
Bill· HRH.R. 195 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to allow an income tax deduction for State and local public utility taxes.
Bill· HRH.R. 189 (99th)referred
United States · United States Congress · 3 January 1985
Taxpayers' Bill of Rights Act - Requires the Secretary of the Treasury to prepare pamphlets which set forth in nontechnical terms: (1) the rights and obligations of taxpayers during an audit; (2) the procedures which the Internal Revenue Service (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 that copies of such pamphlets accompany the first communication from the IRS to any taxpayer regarding tax liability. Establishes within the IRS an Office of Taxpayer Services, directed by an Assistant Commissioner of Internal Revenue, whose primary responsibilities shall include: (1) assisting taxpayers with information about tax returns, audits, corrections, appeals procedures, and payment or document location; and (2) receiving and evaluating complaints of improper, abusive, or inefficient service by IRS personnel. Authorizes the Assistant Commissioner for Taxpayer Services to issue a Taxpayer Assistance Order prohibiting the Secretary, for up to 60 days after such issuance, from taking any assessment, collection, or other action adverse to a taxpayer if the Assistant Commissioner determines that such taxpayer is suffering from an unusual, unnecessary, or irreparable loss as a result of such action. Amends the Internal Revenue Code to prescribe 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 which are not directly related to such tax laws; 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 any proceeding before the Tax Court. Requires the IRS, upon a taxpayer's request, to conduct any interview regarding a deficiency assessment in the taxpayer's residence or place of business, at a reasonable time convenient to the taxpayer. Requires the officer or employee conducting such interview to warn the taxpayer that: (1) he or she has a right to remain silent; (2) any statement he or she makes may be used against him or her; and (3) he or she has the right to the presence of an attorney. Exempts certain income producing property from levy for nonpayment of taxes. Directs the Comptroller General of the United States to establish, and to report annually to the Congress on, a program to provide for a continuing audit and investigation of the efficiency, uniformity, and equity of the administration of the internal revenue laws of the United States.
Bill· HRH.R. 187 (99th)referred
United States · United States Congress · 3 January 1985
Prohibits the issuance of any regulations by the Internal Revenue Service after April 30, 1984, concerning the taxation of fringe benefits.
Bill· HRH.R. 152 (99th)referred
United States · United States Congress · 3 January 1985
Minority Telecommunications Ownership Tax Act of 1985 - Amends the Internal Revenue Code to increase the 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. 146 (99th)referred
United States · United States Congress · 3 January 1985
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. 136 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to disallow the income tax deduction for business expenses paid or incurred for regularly scheduled air transportation to the extent that such amount exceeds the normal tourist class fare for such transportation.
Bill· HRH.R. 139 (99th)referred
United States · United States Congress · 3 January 1985
Reckless Risk Recovery Act of 1985 - Amends the Internal Revenue Code to impose an excise tax on financial institutions which have outstanding loans to foreign governments which are insolvent and which have received funds from the United States since they became insolvent.
Bill· HRH.R. 96 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to allow an income tax credit for the educational expenses paid for the elementary, secondary, college, or vocational education of the taxpayer or the taxpayer's spouse or dependents. Limits the amount of the credit to $2,000 for any individual for whom such expenses are paid. Excludes from the definition of "educational expenses" any amount paid for meals, lodging, or similar personal expenses.
Bill· HRH.R. 94 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to make permanent the deduction for charitable contributions by taxpayers who do not itemize deductions.
Bill· HRH.R. 88 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to repeal the windfall profit tax on domestic crude oil.
Bill· HRH.R. 93 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to repeal the estate tax, the gift tax, and the tax on generation-skipping transfers. Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to prohibit the payment of title II benefits to individuals who have been deported pursuant to the Immigration and Nationality Act because of activities conducted under the direction of association with the Nazi government of Germany or its allies.
Bill· HRH.R. 95 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to exclude tips from gross income.
Bill· HRH.R. 89 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to provide that a married individual who resides in the same household as or in a separate household from such individual's spouse and who files a separate return may elect to have the Secretary of the Treasury recompute the taxes of such individual and such individual's spouse as though they were filing a single joint return. Provides that the amount of any reduction in tax as a result of such computation shall be paid (without interest) to such individual and such individual's spouse in the same proportion that each individual's taxable income bears to the aggregate taxable income.
Bill· HRH.R. 91 (99th)referred
United States · United States Congress · 3 January 1985
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. 56 (99th)referred
United States · United States Congress · 3 January 1985
National Dividend Act of 1985 - Establishes a program for the distribution of corporate income tax, capital gains tax, and insurance company income tax revenues to the registered voters of each State in the form of dividend payments. Directs the Secretary of the Treasury to pay to the chief financial officer of each State an amount equal to the National Dividend Payment, as computed under this Act, multiplied by the number of registered voters in such State. Establishes the National Dividend Payment Trust Fund. Directs the payment of specified amounts to the Trust Fund between FY 1986 and 1989. Establishes a National Dividend Review Board to review the manner in which payments are made from the Trust Fund and to make investments of trust funds which are not required to meet current expenses. Amends the Internal Revenue Code to exclude from gross income all dividend income, including dividends received under this Act, received by a taxpayer from a domestic corporation. Increases the income tax deduction to corporations for dividends received on the preferred stock of a public utility. Prohibits an increase of corporate income tax rates above 46 percent. Limits increases in Federal expenditures during the five-year period beginning after the date of the enactment of this Act to an amount which is attributable to inflation.
Bill· HRH.R. 42 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to revise the restrictions on investment in tangible investment assets by individual retirement accounts and individually directed accounts. Allows such investments except for: (1) the acquisition of a tangible investment asset from the individual (or his or her beneficiaries) for whose benefit the account was created; or (2) the transfer (by distribution or otherwise) of a tangible investment asset from an account to the individual (or his or her beneficiaries) for whose benefit the account has been created.
Bill· HRH.R. 22 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to increase to $2,500 the maximum deduction for contributions to retirement savings plans. Allows certain individuals to compute the amount of the income tax deduction for retirement savings on the basis of the earned income of their spouses without regard to any community property laws.
Bill· HRH.R. 11 (99th)referred
United States · United States Congress · 3 January 1985
Amends the Internal Revenue Code to provide that one-half of the cost of insurance paid by a self-employed taxpayer for medical care during the taxable year will be allowed as a business deduction.
Bill· HJRESH.J.Res. 42 (99th)referred
United States · United States Congress · 3 January 1985
Constitutional Amendment - Prohibits the total amount of money expended by the United States in any fiscal year from exceeding the total amount of revenue received by the United States during such year, except revenue received from the issuance of bonds, notes, or other obligations. Prohibits the total amount of money expended by the United States in any fiscal year from exceeding the amount equal to 20 percent of the gross national product during the last calendar year ending before the beginning of such fiscal year. Permits the suspension of such prohibitions during any fiscal year during any part of which the United States is at war as declared by Congress.
Bill· HJRESH.J.Res. 16 (99th)referred
United States · United States Congress · 3 January 1985
Constitutional Amendment - Prohibits total Federal expenditures from exceeding net revenue. 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 the suspension of such prohibition in the case of a national economic emergency, to take into consideration the extent and rate of industrial activity, unemployment, inflation, and other appropriate factors.