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Taxation

Records whose title is actually about this topic. Use a country filter if the list is still too broad.

101 records in US in 1981

All countriesUnited States · 53,051European Union · 5,204Ireland · 4,382Austria · 4,153United Kingdom · 3,280France · 2,309Germany · 1,779Netherlands · 865Belgium · 1Search this topic

Records

Bill· HRH.R. 5120 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to increase the deduction for net capital gains from 60 percent to 70 percent and to reduce to 6 months the holding period required for long-term capital gain treatment.

United States · United States Congress · 7 December 1981

Amends the Internal Revenue Code to increase the capital gains deduction from 60 to 70 percent. Reduces from one year to six months the holding period requirement for long-term capital gain treatment.

Bill· HRH.R. 5122 (97th)referred

A bill to exclude certain back pay awards from Federal income taxation, and for other purposes.

United States · United States Congress · 7 December 1981

Excludes from gross income qualified backpay awards received by former employees of Darlington Manufacturing Company of Darlington, South Carolina, in settlement of claims resulting from the closing of the Darlington Mill. Provides that such backpay awards shall not be taken into account for purposes of determining the eligibility of an individual for public assistance.

Bill· SS. 1905 (97th)open

A bill to require certain reductions in the windfall profit tax contained in the Economic Recovery Tax Act of 1981.

United States · United States Congress · 3 December 1981

Amends the Economic Recovery Tax Act of 1981 to repeal the credit for any windfall profit tax paid in connection with taxable crude oil which is attributable to a qualified royalty interest and which is removed from the premises during 1981. Repeals the exemption for 1982 and thereafter of royalty interests from the windfall profit tax. Repeals the reductions in the tax imposed on newly discovered tier three oil. Repeals the exemption from the windfall profit tax on the stripper well oil of independent producers.

Bill· SS. 1904 (97th)open

A bill to amend the Internal Revenue Code of 1954 to provide targeted rate schedules to replace the across-the-board tax cuts enacted by the Economic Recovery Act of 1981.

United States · United States Congress · 3 December 1981

Amends the Internal Revenue Code, as amended by the Economic Recovery Tax Act of 1981, to set forth income tax rate schedules for each category of taxpayer for taxable years 1982 and 1983 and thereafter. Repeals the ten percent withholding reductions provided for in 1982 and 1983 contained in such Act.

Bill· HRH.R. 5109 (97th)referred

A bill to provide for the inclusion of certain items within the unified budget, effective with respect to the fiscal year 1983 budget.

United States · United States Congress · 3 December 1981

Amends the Rural Electrification Act of 1936, the Regional Rail Reorganization Act of 1973, and the Federal Financing Bank Act of 1973 to include within the unified budget for fiscal year 1983 specified items that would otherwise be left out. States that all transactions of the Postal Service Fund and of the United States Synthetic Fuels Corporation shall be included in such budget.

Bill· HRH.R. 5113 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to reduce the rate of certain taxes paid to the Virgin Islands on Virgin Islands source income, and for other purposes.

United States · United States Congress · 3 December 1981

Amends the Internal Revenue Code to reduce to ten percent the income tax rate on Virgin Islands source income and provide for corresponding reductions in tax withholding. Provides that limitations on the foreign tax credit shall not apply to taxes paid to the Virgin Islands on Virgin Islands source income.

Bill· SS. 1897 (97th)open

A bill to amend the Internal Revenue Code of 1954 to provide an additional 8 years to amend governing instruments to meet the requirements for gifts of split interests to charity, and for other purposes

United States · United States Congress · 1 December 1981

Amends the Internal Revenue Code, with respect to charitable contribution deductions from a decedent's gross estate, to extend through December 31, 1983, the period during which governing instruments may be amended to meet the requirements for a gift of a split interest to charity. Amends the Revenue Act of 1978 to provide that under regulations prescribed by the Secretary of the Treasury, similar rules shall apply to the income tax and gift tax charitable deduction.

Bill· SS. 1898 (97th)open

A bill to amend the Internal Revenue Code of 1954 to exempt certain vehicles, trailers, bodies, chassis, parts and accessories used for farming purposes from the excise tax and from the highway use tax imposed on such property.

United States · United States Congress · 1 December 1981

Amends the Internal Revenue Code to exempt from the manufacturers' excise tax on motor vehicles any vehicle, trailer, semitrailer, body, chassis, part, or accessory primarily designed as feed, seed, or fertilizer equipment or as livestock transportation equipment. Exempts such equipment from the highway use tax.

Bill· SS. 1891 (97th)open

A bill to protect the confidentiality of information filed by individual taxpayers with the Internal Revenue Service, to promote the effective enforcement of Federal and State criminal laws, to facilitate judicial resolution of challenges to Internal Revenue Service summonses, and for other purposes.

United States · United States Congress · 24 November 1981

Amends the Internal Revenue Code to set forth new criteria for the disclosure of tax return information to Federal law enforcement officials. Revises the definition of tax return information and investigative nonreturn information. Defines "investigative return information" as tax returns of all taxpayers and underlying records and information submitted in support of such returns. Defines "investigative nonreturn information" as all information obtained by the Internal Revenue Service which is not encompassed in the definition of investigative return information, including corporate books and records and information about taxpayers obtained from third parties. Requires an ex parte Federal court order for the disclosure of investigative return information to Justice Department officials for use in preparing any administrative, judicial, or grand jury proceeding involving the enforcement of a specific Federal criminal statute (but not involving tax administration) or in an ancillary proceeding involving the United States or for purposes of locating a fugitive from justice. Specifies the grounds for granting an ex parte order. Authorizes Justice Department officials who have obtained investigative return information pursuant to a court order to disclose such information to other government officials or potential witnesses crucial to a criminal investigation or needed for the preparation of criminal proceedings. Grants the Secretary of the Treasury discretion to refuse disclosure of investigative return or nonreturn information if he determines and certifies to the court granting the ex parte order (in the case of return information), that such disclosure would identify a confidential informant or seriously impair a civil or criminal tax investigation. Requires the Secretary to disclose investigative return information to Justice Department officials as soon as practicable after the issuance of the ex parte order. Permits the disclosure of investigative nonreturn information upon the written request of a head of a Federal agency, the Inspector General of such agency, or certain officials of the Justice Department for use in Federal grand jury proceedings, or in preparation for any administrative, judicial, or grand jury proceedings. Sets forth the information which such request must contain. Permits officials who have obtained investigative nonreturn information to disclose such information to other government personnel or potential witnesses crucial to a criminal investigation or needed for the preparation of criminal proceedings. Directs the Secretary to disclose in writing to appropriate Federal officials investigative nonreturn information (other than information which would identify a confidential informant or seriously impair a tax investigation) which may indicate a violation of Federal criminal laws. Directs the Secretary, when making a recommendation to the Justice Department for prosecution of a criminal tax violation, to disclose return or nonreturn information obtained during the tax investigation which indicates a violation of Federal criminal law. Allows information disclosed under the provisions of this Act to be entered into evidence in nontax judicial or administrative proceedings or in any ancillary proceedings to which the United States is a party. Limits such disclosure to the extent required by applicable discovery requirements. Prohibits admission of such evidence into evidence if the Secretary determines that it would identify a confidential informant or seriously impair a tax investigation, unless a court otherwise directs disclosure. Directs the Secretary, in specified emergency circumstances, to disclose return or nonreturn information to the extent necessary to apprise appropriate Federal officials of such emergency. Permits the Internal Revenue Service to assist the Department of Justice or any other Federal agency in joint tax and nontax investigations of criminal matters which may involve tax violations. Permits Federal officials to apply to a Federal court for permission to disclose to appropriate State officials any investigative return or nonreturn information which may indicate a violation of a State felony statute. Sets forth the factors which the court must consider in authorizing such disclosure. Permits the disclosure of investigative return and nonreturn information to a foreign government which has a treaty with the United States for the exchange of tax information in nontax criminal matters. Requires a Federal judge or magistrate to determine whether the information is relevant to the criminal investigation. Permits the disclosure of investigative return and nonreturn information to Federal intelligence agencies upon the certification of the Attorney General that such information is sought exclusively for use in foreign intelligence collection or a foreign counterintelligence investigation. Sets forth additional factors which the Attorney General must consider in making his certification. Allows as an affirmative defense to a prosecution for the unauthorized disclosure of return or nonreturn information that such disclosure resulted from a good faith, but erroneous, interpretation of the requirements of this Act. Enlarges the remedy of a taxpayer aggrieved by an unauthorized disclosure of returns or return information to permit suit for civil damages against the Federal agency responsible for the disclosure. Permits direct suit against nonemployees of a Federal agency who are responsible for an unauthorized disclosure. Expands the authority of the Secretary of the Treasury to examine the books of a taxpayer and certain witnesses to permit the Secretary to make inquiries regarding possible criminal tax violations. Revises procedures for challenging Internal Revenue Service third-party summonses to permit third-party recordkeepers to file a motion in Federal court to quash such summonses. Allows an appeal of an order denying a motion to quash only as part of an appeal from a final order. Grants the U.S. magistrate jurisdiction over all proceedings involving third-party summonses.

Bill· SS. 1887 (97th)open

A bill to amend the Internal Revenue Code of 1954 to expedite the installation of automatic safety air bags.

United States · United States Congress · 24 November 1981

Amends the Internal Revenue Code to impose a $300 excise tax on the sale by the manufacturer of each 1984 or later model passenger automobile in which an automatic safety air bag has not been installed. Allows a manufacturer a refundable $300 tax credit for each 1984 or later model passenger automobile in which such an air bag has been installed.

Bill· SS. 1888 (97th)open

A bill to amend the Internal Revenue Code of 1954 to clarify the tax treatment of variable annuity contracts.

United States · United States Congress · 24 November 1981

Amends the Internal Revenue Code to revise requirements for the tax deferral of amounts received under variable annuity contracts. Permits the use of an independent investment manager of such annuities. Allows the like-kind exchange of one annuity contract for another. Provides that the tax treatment of any payment made by a contract holder on or before September 25, 1981 shall be determined without regard to Revenue Ruling 81-225 (disallowing tax deferral of amounts received under certain variable annuity contracts).

Resolution· SCONRESS.Con.Res. 50 (97th)passed

An original resolution re-affirming the congressional budget for the United States Government for fiscal years 1982, 1983, and 1984.

United States · United States Congress · 24 November 1981

Reaffirms the concurrent resolution on the budget most recently agreed to with respect to the fiscal year 1982 (H. Con. Res. 115, Ninety- seventh Congress). Declares that it is the sense of the Congress that: (1) the economic crisis now facing the American people is so severe that solutions must be found immediately; (2) the President should submit a plan as soon as possible to bring interest rates down, to decrease unemployment, to decrease substantially inflation, and to balance the budget in fiscal year 1984; and (3) Presidential guidance and leadership is essential to reach these goals.

Bill· SS. 1884 (97th)open

A bill to amend the Internal Revenue Code of 1954 with respect to refunds relating to the repeal of the excise tax on buses.

United States · United States Congress · 22 November 1981

Amends the Energy Tax Act of 1978, with respect to refunds resulting from the repeal of the manufacturers' excise tax on buses, to extend to December 31, 1982, the period for reimbursement of the tax to the ultimate purchaser. Permits the manufacturer to make such reimbursement at the same time it receives the refund.

Bill· HRH.R. 5085 (97th)referred

National Dividend Act of 1981

United States · United States Congress · 21 November 1981

National Dividend Act of 1981 - 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 fiscal years 1981 and 1985. 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 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. Requires a deduction from the national dividend payment for taxable years in which there is a Federal budget deficit.

Bill· HRH.R. 5086 (97th)referred

Coal Excise Tax Payment Reform Act of 1981

United States · United States Congress · 21 November 1981

Coal Excise Tax Payment Reform Act of 1981 - Amends the Internal Revenue Code to require the collection of excise taxes on coal by means of a return filed according to a specified uniform schedule. Specifies that no deposit of tax shall be required before the last day for filing such a return.

Bill· HRH.R. 5068 (97th)referred

Home Protection Tax Credit Act

United States · United States Congress · 20 November 1981

Home Protection Tax Credit Act - Amends the Internal Revenue Code to provide a tax credit equal to the purchase and installation price of a security device placed in a residence. Allows a maximum credit of $100 ($50 in the case of a married individual filing a separate return). Defines "security device" as any anti-intrusion device or system.

Bill· HRH.R. 5059 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to allow an individual a credit against income tax for any taxable year during a limited period of years after the individual attains age 65 if the individual is eligible to retire on social security, but does not retire, during such year.

United States · United States Congress · 19 November 1981

Amends the Internal Revenue Code to allow a nonrefundable income tax credit for delaying social security retirement past age 65. Limits the amount of such credit to $1,000 for retirement at age 66, $1,500 for retirement at age 67, and $2,000 for retirement at age 68 or older.

Bill· SS. 1861 (97th)open

A bill to amend the Internal Revenue Code of 1954 to simplify certain requirements regarding withholding and reporting at the source and to correct inequities regarding carryover of losses.

United States · United States Congress · 18 November 1981

Amends the Internal Revenue Code to repeal the withholding of tax requirements with respect to gambling winnings. Requires information returns for gambling winnings for payment of $10,000 or more. Defines "gambling winnings" as the proceeds of: (1) a State lottery; (2) a parimutuel pool, if the amount of proceeds is at least 300 times as large as the amount wagered; (3) keno; (4) bingo; or (5) slot machines. Provides a three year carryover and carryback for net gambling losses.

Bill· HRH.R. 5031 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income a certain portion of governmental pensions based on services not covered under the social security system.

United States · United States Congress · 18 November 1981

Amends the Internal Revenue Code to exclude from gross income amounts received under a governmental pension that are not attributable to services covered under the social security system. Limits such exclusion to the maximum individual social security benefit, one and one-half times such amount for joint returns, and three-fourths of such amount for married individuals filing separately.

Bill· HRH.R. 5011 (97th)open

A bill to amend the effective date provision of section 403(b)(3) of the Windfall Profit Tax Act of 1980 (Public Law 96-223) to further defer the effective date of certain provisions providing for the recognition as income of LIFO inventory amounts.

United States · United States Congress · 18 November 1981

Amends the Crude Oil Windfall Profit Tax Act of 1980 to delay until December 31, 1982, the effective date of the requirement that in cases of corporate liquidations a corporation inventorying goods under the last-in, first-out (LIFO) method of accounting treat the LIFO recapture amount with respect to distributed inventory assets as gain from the sale of such assets.

Bill· HRH.R. 5017 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide an additional 3 years to amend governing instruments to meet the requirements for gifts of split interests to charity, and for other purposes.

United States · United States Congress · 18 November 1981

Amends the Internal Revenue Code, with respect to charitable contribution deductions from a decedent's gross estate, to extend through December 31, 1983, the period during which governing instruments may be amended to meet the requirements for a gift of a split interest to charity. Amends the Revenue Act of 1978 to provide that under regulations prescribed by the Secretary of the Treasury, similar rules shall apply to the income tax and gift tax charitable deduction.

Bill· HRH.R. 4999 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the individual income tax rate reductions enacted by the Economic Recovery Tax Act of 1981 for 1982 and subsequent years shall take effect 6 months sooner than scheduled under such Act.

United States · United States Congress · 17 November 1981

Amends the Internal Revenue Code to provide that the individual income tax rate reductions enacted by the Economic Recovery Tax Act of 1981 shall be reflected in withholding adjustments six months sooner than scheduled.

Bill· HRH.R. 5004 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to clarify the tax treatment of variable annuity contracts.

United States · United States Congress · 17 November 1981

Amends the Internal Revenue Code to revise requirements for the tax deferral of amounts received under variable annuity contracts. Permits the use of an independent investment manager of such annuities. Allows the like-kind exchange of one annuity contract for another. Provides that the tax treatment of any payment made by a contract holder on or before September 25, 1981, shall be determined without regard to Revenue Ruling 81-225 (disallowing tax deferral of amounts received under certain variable annuity contracts).

Bill· HRH.R. 4998 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide for the exclusion from gross income of certain retirement benefits received by individuals to the extent that such benefits do not exceed the maximum social security benefits payable to any individual.

United States · United States Congress · 17 November 1981

Amends the Internal Revenue Code to exclude from gross income certain retirement benefits to the extent that such benefits do not exceed the maximum social security benefit.

Bill· HRH.R. 4990 (97th)open

A bill to amend the Internal Revenue Code of 1954 to clarify the status of certain amateur athletic organizations.

United States · United States Congress · 16 November 1981

Amends the Internal Revenue Code to qualify as tax-exempt public charities certain amateur sports organizations which, as part of their activities, provide athletic facilities or equipment. Denies a tax deduction for income, estate, and gift tax purposes, for contributions in excess of $500 made to such an organization by a person, or a member of the family of a person, who uses any athletic facility or equipment provided by the organization.

Bill· HRH.R. 4979 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that a dividend paid by a corporation directly to certain charitable organizations at the direction of a shareholder shall be treated as a charitable contribution of the corporation, and to exclude such dividend from the income of such shareholder.

United States · United States Congress · 16 November 1981

Amends the Internal Revenue Code to treat dividends paid by a corporation directly to a charitable organization at the direction of a shareholder as a charitable contribution of the corporation. Sets forth a formula to determine the charitable contribution of the corporation with respect to such payment. Excludes such dividend from the income of the shareholder.

Law· HRH.R. 4961 (97th)enacted

Tax Equity and Fiscal Responsibility Act of 1982

United States · United States Congress · 13 November 1981

Miscellaneous Revenue Act of 1981 - Amends the Internal Revenue Code to provide that the limitations placed on income tax deductions for expenses in connection with the business or rental use of a home shall not apply to rentals to a family member or a person who has an interest in the dwelling unit pursuant to a shared equity financing agreement if such person pays a fair rental and uses such residence as his principal place of residence. Defines "shared equity financing agreement" for purposes of this Act. Permits reasonable litigation costs, including attorneys' fees, to be awarded to the prevailing party (other than the United States or a creditor of the prevailing party) in any civil proceeding in any court of the United States for the determination, collection, or refund of any tax, interest, or penalty imposed under the Internal Revenue Code if it is determined that the position of the United States was unreasonable. Requires such party to have exhausted the available administrative remedies within the Internal Revenue Service. Disallows costs of proceedings involving declaratory judgments, except those involving the revocation of an organization's status as a tax-exempt public charity. Includes as attorneys' fees any amounts paid to an individual who is not an attorney but who is authorized to practice before the Tax Court. Defines "prevailing party" as a party who substantially prevails with respect to the amount in controversy or the most significant issue or set of issues. Disqualifies costs of proceedings commenced after September 30, 1984. Increases from $500 to $5,000 the maximum penalty for instituting Tax Court proceedings for purposes of delay and imposes such penalty for the bringing of proceedings which are frivolous or groundless. Revises the test for whether proceedings are brought for purposes of delay. Exempts accrual basis taxpayers from the application of tax rules limiting the acceleration of accrual of taxes by a taxing jurisdiction if they so elect or if they were not liable for any tax prior to the effective period of acceleration. Sets forth rules for the accounting of accruals in the case of taxpayers who make such an election. Revises the formula used for purposes of the personal holding company tax to determine whether the sum of the deductions directly allocable to the conduct of a lending or finance business allows the exclusion of such a business from the definition of a personal holding company. Increases from 60 to 144 months the limitation on the maturity of commercial paper and loans dealt in or made by a lending or finance business. Excepts from the definition of "lending or finance business" the making of loans, notes, or installment obligations under open end credit agreements. Amends the Tax Reform Act of 1976 to defer until 1984 the effective date of special rules limiting net operating loss carryovers. Amends the Energy Tax Act of 1978, with respect to refunds resulting from the repeal of the manufacturers excise tax on buses, to extend to December 31, 1982, the period for reimbursement of tax to the ultimate purchaser and revise requirements regarding proof of reimbursement.

Bill· HRH.R. 4971 (97th)open

Self-Employed Tax Status Clarification Act of 1981

United States · United States Congress · 13 November 1981

Self-Employed Tax Status Clarification Act of 1981 - Amends the Internal Revenue Code to specify three alternative standards for determining whether certain individuals qualify as self-employed for purposes of social security taxation. Treats an individual as self-employed if such individual: (1) controls the total number of his work hours; (2) does not maintain a principal place of business, or, if he does, such place of business is not provided, or is not provided rent-free, by the person for whom such individual performs services; (3) has substantial investment in his business and earns income based upon sale or output rather than upon number of hours worked; (4) performs services pursuant to a written contract and is provided written notice of his 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 being self-employed if such individual; (1) has 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 as self-employed unless such failure was willful or intentional. Treats an individual as being 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 tax writing committees of the Congress on taxpayer compliance with the self-employment criteria specified by this Act. Amends the Revenue Act of 1978 to terminate on January 1, 1982 temporary provisions providing for the treatment of certain individuals as self-employed for employment tax purposes.

Bill· HRH.R. 4963 (97th)referred

A bill to amend title II of the Social Security Act and chapters 2 and 21 of the Internal Revenue Code of 1954 to provide that the hospital insurance program shall hereafter be financed from general revenues rather than through the imposition of payroll taxes as at present, reallocating the future proceeds of such taxes to the old-age, survivors, and disability insurance program in order to assure the actuarial soundness of that program.

United States · United States Congress · 13 November 1981

Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act and the Internal Revenue Code to finance the payment of hospital insurance benefits through general tax revenues and adjust the tax rates on employers, employees, and self-employment income to finance the old age, survivors and disability insurance program.

Bill· HRH.R. 4972 (97th)referred

Urban Growth Act of 1981

United States · United States Congress · 13 November 1981

Urban Growth Act of 1981 - Title I: Reduction of Corporate Tax Rates - Amends the Internal Revenue Code to reduce corporate income tax rates. Amends the Economic Recovery Tax Act of 1981 to reduce the tax on certain mutual insurance companies. Title II: Investment Tax Credit May Offset 100 Percent of Tax Liability - Modifies the limitation on the amount of the investment tax credit to allow the credit to offset the entire amount of tax liability for the taxable year. Title III: Incentives During Periods of High Unemployment - Includes, in the calculation of the investment tax credit, an additional ten percent, to be known as the "depressed area percentage," for investment in high unemployment areas. Sets forth the procedure for the tax treatment of investment tax credit property that ceases to be depressed area property. Allows amortization deductions for depreciable buildings located in high unemployment areas which meet specified requirements and for equipment used exclusively in a qualifying facility. Stipulates that such deductions for any month shall be in lieu of depreciation deductions for such facilities and equipment. Prohibits such deduction for any relocated facility involving significant employment whose relocation results in decreased employment at the former location. Provides an additional tax credit for an employer who retains specified levels of employees during high periods of unemployment. Title IV: Allowance of Deduction for Dividends Paid By Domestic Corporations - Allows a deduction for dividends paid by a domestic corporation during a taxable year in lieu of the current deduction allowed for dividends received by a corporation from another corporation. Makes ineligible for such deduction any subchapter S corporation, regulated investment company, real estate investment trust, or personal holding company. Disallows tax deductions for dividends paid by specified savings institutions and specified dividends paid by Domestic International Sales Corporations or former Domestic International Sales Corporations. Repeals the partial tax exclusion for dividends received from domestic corporations by individuals. Limits the aggregate amount of deductions allowed for dividends received from specified foreign corporations to 85 percent of taxable income, except in taxable years for which there is a net operating loss. Repeals specified rules regarding deductions for dividends received or paid on certain preferred stock of public utilities and dividends received from tax-exempt corporations and farmers' cooperative organizations. Title V: Certain Federally Required Expenditures Treated as Expenses - Allows a business expense deduction for certain federally required nonproductive expenditures required for compliance of any trade or business with Federal or State law. Title VI: Inflation Adjustments - Provides for annual cost of living adjustments, based on the Consumer Price Index, to: (1) the deduction for depreciation of property used in trade or business or investment property; (2) determinations of basis of property, for purposes of computing gain or loss; and (3) corporate income tax rates. Amends the Second Liberty Bond Act to provide annual cost of living adjustment, based on the the Consumer Price Index, to: (1) interest rates on U.S. savings bonds, U.S. Treasury savings certificates, and interest-bearing obligations of the United States having a maturity of one year or more; and (2) the redemption value of such bonds, certificates, and obligations.

Bill· HRH.R. 4968 (97th)referred

A bill to provide that the Internal Revenue Service may not implement certain proposed rules relating to the determination of whether private schools have discriminatory policies.

United States · United States Congress · 13 November 1981

Prohibits the Secretary of the Treasury from implementing a proposed revenue procedure entitled, "Proposed Revenue Procedure on Private Tax-Exempt Schools," or any other guidelines for determining whether private schools have forfeited their tax-exempt status through the adoption of racially discriminatory policies, during the period beginning with the enactment of this Act and ending on December 31, 1982.

Bill· HRH.R. 4970 (97th)referred

A bill to amend the Internal Revenue Code of 1954 with respect to the deduction of charitable contributions to organizations from which the taxpayer or a member of his family receive services.

United States · United States Congress · 13 November 1981

Amends the Internal Revenue Code to provide that charitable contributions to a tax-exempt organization shall not be denied tax deductibility solely because of any educational benefit derived by the taxpayer, unless such contribution was earmarked for the direct benefit of the taxpayer or his family.

Resolution· HRESH.Res. 270 (97th)passed

A resolution waiving certain points of order against the conference report on the bill (S. 815) to authorize appropriations for fiscal year 1982, for procurement of aircraft, missiles, naval vessels, tracked combat vehicles, torpedoes, and other weapons and for research, development, test, and evaluation for the Armed Forces, to authorize appropriations for fiscal year 1982 for operations and maintenance expenses of the Armed Forces, to prescribe the authorized personnel strength for each active duty component and the Selected Reserve of each Reserve Component of the Armed Forces and for civilian personnel of the Department of Defense, to authorize the military training student loans, to authorize appropriations for fiscal year 1982 for civil defense, and for other purposes.

United States · United States Congress · 13 November 1981

Sets forth the rule for the consideration of S. 815 (military funding).

Bill· SS. 1841 (97th)open

A bill to amend the Internal Revenue Code of 1954 to allow a credit for transportation expenses incurred in connection with foreign exchange programs.

United States · United States Congress · 12 November 1981

Amends the Internal Revenue Code to allow an income tax credit for the transportation expenses of a U.S. foreign exchange student incurred in traveling abroad to participate in a teenager exchange-visitor program. Limits such credit to 25 percent of the transportation expenses incurred.

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