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Resolution· HRESH.Res. 285 (101st)passed
United States · United States Congress · 8 November 1989
Waives points of order against the conference report on H.R. 2461 (armed forces funding) and against its consideration.
Bill· HRH.R. 3599 (101st)referred
United States · United States Congress · 7 November 1989
Amends the Internal Revenue Code to permit a taxpayer to select an income tax deduction for either: (1) State and local income taxes; or (2) State and local sales taxes.
Bill· HRH.R. 3592 (101st)referred
United States · United States Congress · 7 November 1989
Amends the Internal Revenue Code to impose a 60 percent excise tax on the sale of certain optional extended warranty and service contracts, to be paid by the person receiving the payment from the sale. Makes such taxes nondeductible.
Bill· SS. 1843 (101st)referred
United States · United States Congress · 6 November 1989
Amends the Internal Revenue Code to provide a nonrefundable tax credit for the purchase and installation of Mode C equipment for transponders used in aircraft. (Describes Mode C equipment as certain equipment in a transponder which gives it automatic altitude reporting capacity.)
Bill· HRH.R. 3590 (101st)referred
United States · United States Congress · 6 November 1989
Amends the District of Columbia Income and Franchise Tax Act of 1947 to exempt from the District of Columbia income tax the spouses and minor children of elective officers of the Federal Government and the spouses and minor children of certain employees on the staffs of elected officials in the legislative branch of the Federal Government.
Bill· SS. 1836 (101st)referred
United States · United States Congress · 3 November 1989
Mathematics and Science Teacher Recruitment and Retention Act - Amends the Internal Revenue Code to allow a tax credit to mathematics and science teachers who: (1) have been full-time employees in public elementary or secondary schools for the previous five years; and (2) have completed during the taxable year at an institution of higher education six credit hours in mathematics, science, or any other subject area for which there is a critical need for teachers. Allows a tax deduction for education expenses relating to certification as a mathematics or science teacher. Makes available matching grants to States for math/science secondary school feasibility studies.
Bill· HRH.R. 3580 (101st)referred
United States · United States Congress · 2 November 1989
Mathematics and Science Teacher Recruitment and Retention Act - Amends the Internal Revenue Code to allow a tax credit to mathematics and science teachers who: (1) have been full-time employees in public elementary or secondary schools for the previous five years; and (2) have completed during the taxable year at an institution of higher education six credit hours in mathematics, science, or any other subject area for which there is a critical need for teachers. Allows a tax deduction for education expenses relating to certification as a mathematics or science teacher.
Bill· HRH.R. 3582 (101st)referred
United States · United States Congress · 2 November 1989
Amends the Internal Revenue Code to allow an individual income tax deduction for contributions to a savings account established to pay the educational expenses (tuition, supplies, meals, and lodging) of the taxpayer's child or certain other relatives at an institution of higher education or a vocational school. Limits the deduction to $1,500 annually (adjusted for inflation) for each account. Disallows the deduction for contributions to an account maintained for any individual aged 19 or older. Requires any account balance to be distributed after the beneficiary attains age 30. Excludes from gross income any account distributions that are: (1) used to pay educational expenses of the eligible beneficiary; or (2) transferred within 60 days to an individual retirement account. Exempts an account from taxation (except for the tax on unrelated business income of a charitable organization), unless a contributor or the beneficiary engages in specified prohibited transactions in connection with it. Imposes a ten percent surtax on distributions not used for educational purposes. Requires the account trustee to report to the Secretary of the Treasury and to the account's beneficiary concerning the account. Imposes a penalty for failure to report. Allows taxpayers who do not otherwise itemize deductions to deduct for contributions to an education savings account. Imposes penalty taxes in connection with excess contributions or prohibited transactions associated with an account. Exempts from contribution limitations any distributions from education savings accounts into individual retirement accounts. Excludes from gross income distributions from individual retirement accounts into education savings accounts.
Bill· HRH.R. 3569 (101st)referred
United States · United States Congress · 1 November 1989
Amends the Internal Revenue Code to qualify displaced homemakers for the targeted jobs income tax credit. Defines "displaced homemaker" as an individual who: (1) has not worked in the labor force for a substantial number of years but has, during those years, worked in the home providing unpaid services for family members; and (2) has been dependent on public assistance or on the income of another family member but is no longer supported by that income or is receiving public assistance on account of dependent children in the home.
Bill· SS. 1815 (101st)referred
United States · United States Congress · 31 October 1989
Amends the Internal Revenue Code to exclude the imposition of employer social security taxes on cash tips.
Bill· SS. 1808 (101st)referred
United States · United States Congress · 31 October 1989
Nuclear Decommissioning Reserve Fund Act of 1989 - Amends the Internal Revenue Code to: (1) decrease from 34 percent to 15 percent the rate of the tax imposed on the income of any Nuclear Decommissioning Reserve Fund; and (2) remove restrictions on permitted investments of Fund monies.
Bill· HRH.R. 3560 (101st)referred
United States · United States Congress · 31 October 1989
Amends the Internal Revenue Code to allow a tax credit for unused disaster losses attributable to a disaster occurring before December 31, 1991. Prohibits the use of the tax credit together with the tax deduction for losses. Sets forth special rules for disaster losses involving residences. Allows penalty-free withdrawals from retirement plans for disaster losses occurring after July 31, 1989, and before January 1, 1992. Provides a tax exemption for State and local bonds used to provide disaster loans to small and moderate businesses for disasters occurring after July 31, 1989.
Bill· HRH.R. 3556 (101st)referred
United States · United States Congress · 31 October 1989
Amends the Internal Revenue Code to reduce the occupational tax from $250 to $165 for retail dealers in liquors and in beer. Limits assessments of underpayments with respect to taxable periods beginning after the date of enactment of this Act in connection with such tax. Abates assessments and mandates refund of overpayments of any post-1987 tax. Places additional limitations on the deductibility by a C corporation of interest on corporate stock acquisition indebtedness, denying a deduction for such interest in excess of $5,000,000 incurred in connection with any acquisition of stock pursuant to the acquiring corporation's plan to acquire 50 percent or more (by vote or value) of the stock in a corporation.
Resolution· HRESH.Res. 276 (101st)passed
United States · United States Congress · 31 October 1989
Sets forth the rule for the consideration of a motion to recede and concur in a Senate amendment to H.R. 3015 (Department of Transportation and related agencies appropriations) and waives points of order against such motion.
Bill· SS. 1803 (101st)referred
United States · United States Congress · 26 October 1989
Amends the Internal Revenue Code with respect to the tax exclusion for discharges of indebtedness under certain student loans made on or after January 1, 1986, by a State with no accredited professional law or medical schools. Waives the statute of limitations for tax claims.
Bill· HRH.R. 3525 (101st)referred
United States · United States Congress · 25 October 1989
Amends the Internal Revenue Code to reduce the occupational tax for retail dealers in liquor, wine, or beer if: (1) annual gross receipts from the sale of alcohol products equal less than $750,000; and (2) at least 33 percent of the alcohol products sold are consumed on the premises of such retail dealer.
Bill· SS. 1784 (101st)referred
United States · United States Congress · 24 October 1989
Internal Revenue Code Penalty Reform Act - Title I: Document and Information Return Penalties - Amends the Internal Revenue Code to revise penalty provisions in connection with tax return administration. Imposes a uniform penalty of $50 per offense to a maximum of $250,000 per year on any person who fails to: (1) file timely and correct information returns; (2) furnish correct payee statements; or (3) comply with other information reporting requirements. Reduces penalties if corrections are made within a specified time period. Allows exceptions for de minimis failures. Increases penalties and removes the annual penalty ceiling in cases of intentional disregard of filing requirements. Lowers the maximum penalties for taxpayers whose gross receipts do not exceed a specified amount for the most recent three years. Modifies certain reporting requirements relating to individual retirement accounts and certain trusts and annuity plans. Requires United States shareholders of a controlled foreign corporation to meet certain reporting requirements. Revises requirements governing regulations prescribed by the Secretary of the Treasury in connection with returns that must be filed on magnetic media or in other machine-readable form. Directs the Comptroller General to study and report to specified congressional committees concerning ways to resolve discrepancies between taxpayer identity information shown on information returns and that in Internal Revenue Service (IRS) records. Title II: Revision of Substantial Understatement of Liability Penalties - Reduces the penalty for substantial understatement of income tax liability. Establishes additional penalties if such understatement is due to negligence. Imposes: (1) a 100 percent penalty in the form of additional tax with respect to any underpayment attributable to fraud; and (2) a 50 percent penalty in connection with underpayments of or failure to pay any stamp tax. Title III: Preparer, Promoter, and Protester Penalties - Revises provisions governing damages assessable for offenses related to Tax Court litigation to: (1) grant the Tax Court discretion in requiring a taxpayer to pay the United States a penalty (current law requires the penalty); (2) increase the amount of the permissible penalty from a $5,000 to a $25,000 maximum; (3) authorize the Tax Court to impose a penalty upon any attorney who unreasonably multiplies the proceedings in question. Authorizes similar sanctions in cases brought before other courts. Modifies penalty provisions associated with understatements of taxpayer liability by income tax return preparers to: (1) increase penalty amounts; and (2) institute penalties for understatements due to unrealistic positions or reckless or intentional disregard of tax laws. Increases from $25 to $50 (to an annual maximum of $25,000) the penalty imposed on income tax return preparers who fail to furnish copies to taxpayers, sign returns, or furnish identifying numbers. Modifies penalties imposed on tax preparers who fail to file correct information returns. Increases the possible penalty imposed on persons who promote abusive tax shelters. Broadens the scope of persons subject to penalties for aiding and abetting understatements of tax liability. Increases from $500 to $1,000 the penalty for filing a frivolous income tax return. Repeals a provision prohibiting injunctions against any income tax return preparer who files a surety bond. Requires that regulations governing disclosure or use of information by tax return preparers permit disclosures for quality or peer reviews. Title IV: Failures to File or Pay - Increases the penalty for failure to file a tax return, except for certain low-income taxpayers. Modifies the penalty for failure to make timely deposit of taxes. Provides that the liability for interest or penalties for failure to deduct and withhold tax on nonresident aliens and foreign corporations is not relieved by the payment of such tax.
Bill· HRH.R. 3516 (101st)referred
United States · United States Congress · 24 October 1989
Amends the Internal Revenue Code to provide a refundable income tax credit of two cents per pound of hazardous waste recycled by the taxpayer.
Bill· HRH.R. 3518 (101st)referred
United States · United States Congress · 24 October 1989
Higher Education Tax Equity Act of 1989 - Amends the Internal Revenue Code with respect to the tax exclusion for discharges of indebtedness under certain student loans made by a State with no accredited professional law or medical schools.
Resolution· HRESH.Res. 274 (101st)passed
United States · United States Congress · 24 October 1989
Waives points of order against the consideration of the conference report on H.R. 2991 (Departments of Commerce, Justice, and State, the Judiciary, and related agencies appropriations) and against certain amendments in disagreement.
Resolution· HRESH.Res. 271 (101st)passed
United States · United States Congress · 23 October 1989
Sets forth the rule for the consideration of H.J. Res. 423 (continuing appropriations) and deletes a proposed amendment to Public Law 101-100.
Bill· SS. 1774 (101st)referred
United States · United States Congress · 20 October 1989
Amends the Internal Revenue Code to repeal provisions that establish nondiscrimination requirements for coverage and benefits under certain statutory employee benefit plans. Reinstates prior nondiscrimination rules and modifies other provisions relating to nontaxable benefits.
Law· HJRESH.J.Res. 423 (101st)enacted
United States · United States Congress · 20 October 1989
Fiscal Year 1990 Dire Emergency Supplemental to Meet the Needs of Natural Disasters of National Significance - Amends the joint resolution making continuing appropriations for FY 1990 (Public Law 101-100) to extend its provisions until November 15, 1989. Makes continuing appropriations for FY 1990 to meet the present emergencies arising from recent natural disasters. Declares that obligations under this Act shall not be charged against the Budget Act, Gramm-Rudman-Hollings, or other ceilings.
Bill· SS. 1771 (101st)referred
United States · United States Congress · 19 October 1989
Title I: Capital Gains Provisions - Subtitle A: Reduction in Capital Gains Tax - Amends the Internal Revenue Code to reduce the capital gains tax for noncorporate taxpayers. Establishes a scale for determining such deduction up to a maximum of 35 percent after owning assets for seven years. Provides for not taking into account net capital gain under the phaseout of the 15-percent rate and personal exemptions. Provides for recapturing the gain from disposition of certain depreciable property. Subtitle B: Alternative Capital Gains Rate for Corporations - Reduces the alternative capital gains tax for corporations by establishing a scale for determining such tax rate based on ownership of assets for three to 15 years. Subtitle C: Indexing of Certain Assets for Purposes of Determining Gain - Provides for indexing assets held for more than two years as an option for individuals who elect not to take advantage of the lower capital gains rate. Title II: Individual Retirement Plus Accounts - Allows individuals to establish individual retirement plus accounts with tax treatment similar to that for individual retirement plans. Makes contributions to such accounts nondeductible. Provides for qualified distributions from such accounts, other than for general retirement purposes, including special purposes distributions made for the purchase of a first home and for medical or educational purposes. Prohibits special purpose distributions from being made during the first five years of the account.
Bill· HRH.R. 3495 (101st)referred
United States · United States Congress · 19 October 1989
Senior Citizens Safety Act of 1989 - Amends the Internal Revenue Code to allow a tax credit for individuals who have attained age 65 for qualified security device expenses.
Bill· HRH.R. 3500 (101st)referred
United States · United States Congress · 19 October 1989
Small Business Access Improvement Act of 1989 - Amends the Internal Revenue Code to allow a tax credit for small businesses for the expense of providing public accommodations access to the disabled. Reduces the tax deduction for expenditures to remove architectural and transportation barriers to the handicapped and elderly.
Resolution· HRESH.Res. 270 (101st)passed
United States · United States Congress · 19 October 1989
Sets forth the rule for the consideration of H.R. 2459 (Coast Guard).
Bill· HRH.R. 3491 (101st)referred
United States · United States Congress · 18 October 1989
Long-Term Care Insurance for the Elderly Act of 1989 - Amends the Internal Revenue Code to allow tax-free distributions from an individual retirement account or an individual retirement annuity for the purchase of long-term care insurance coverage when: (1) the entire amount received is used to buy such insurance for the individual or individual's spouse within 90 days of its receipt; and (2) the individual or individual's spouse has reached age 59 and one-half by the date of the distribution. Describes the method, based on the taxpayer's adjusted gross income for the taxable year, for determining the applicable percentage of the distribution or payment amount to which tax-free treatment will be accorded. Requires the Secretary of Health and Human Services to submit to the Congress, within one year after this Act's enactment, a proposal for the regulation of long-term care insurance policies, including minimum standards and an evaluation of the various catastrophic and long-term care policies currently available.
Bill· HRH.R. 3488 (101st)referred
United States · United States Congress · 18 October 1989
Amends the Internal Revenue Code to permit an individual income tax deduction of premiums paid or incurred by the taxpayer for a life insurance contract having as its exclusive beneficiary the trust of disabled members of the taxpayer's family. Sets forth qualifying criteria for such contracts and for their beneficiary trusts.
Resolution· HRESH.Res. 267 (101st)passed
United States · United States Congress · 18 October 1989
Sets forth the rule for the consideration of H.R. 2494 (Export-Import Bank).
Bill· HRH.R. 3478 (101st)referred
United States · United States Congress · 17 October 1989
Amends the Internal Revenue Code to provide that the excise tax on prohibited transactions for qualified pension plans does not apply to the treatment of individual retirement accounts when account balances are used for purposes of determining eligibility for reduced cost or no cost services.
Bill· SS. 1753 (101st)referred
United States · United States Congress · 12 October 1989
Repeals specified provisions of the Tax Reform Act of 1986 that eliminated income averaging. Amends the Internal Revenue Code to permit the use of income averaging by any person: (1) actively engaged in the trade or business of farming; and (2) whose gross receipts for each of the three preceding taxable years does not exceed $5,000,000.
Bill· HRH.R. 3452 (101st)referred
United States · United States Congress · 12 October 1989
Establishes the Commission on National Fiscal Priorities to report to the President and the Congress within six months of appointment on: (1) the functions that the national Government is required by the Constitution to perform, such as defense, highways, and international affairs; (2) those functions which have become so firmly established in national appropriations that they cannot be reasonably expected to end, such as welfare, harbors, and national parks; and (3) those other functions of government which the Constitution does not require the national government to provide, such as sewers, city streets, railroads, community development, and local mass transit. Requires the Commission to report within one year of its appointment on recommendations to abolish Federal programs to balance the budget consistent with constitutional requirements. Authorizes appropriations.
Bill· HRH.R. 3467 (101st)referred
United States · United States Congress · 12 October 1989
Amends the Internal Revenue Code to remove limitations on the deductibility of contributions to individual retirement plans by active participants in employer-maintained plans.
Bill· SS. 1748 (101st)referred
United States · United States Congress · 11 October 1989
Hurricane Hugo Timber Tax Assistance Act - Amends the Internal Revenue Code to provide a tax deduction for timber losses resulting from Hurricane Hugo. Increases the dollar limitation in the amortization of reforestation expenditures incurred after September 18, 1989, and before January 1, 1992, with respect to Hurricane Hugo property. Excludes any deduction for Hurricane Hugo timber damage assessment expenses as a miscellaneous itemized deduction. Provides for the nontaxable treatment of the sale or exchange of timber damaged by Hurricane Hugo and of the use of such proceeds for related mortgage payments. Exempts from late-filing penalties any taxpayer affected by Hurricane Hugo who fails to file a return during a specified period. Amends the Internal Revenue Code to provide for the treatment of passive timber activities under the passive loss rules, for losses suffered as a result of Hurricane Hugo.
Bill· HRH.R. 3449 (101st)referred
United States · United States Congress · 11 October 1989
Hurricane Hugo Timber Tax Assistance Act - Amends the Internal Revenue Code to provide a tax deduction for timber losses resulting from Hurricane Hugo. Increases the dollar limitation in the amortization of reforestation expenditures incurred after September 18, 1989, and before January 1, 1992, with respect to Hurricane Hugo property. Excludes any deduction for Hurricane Hugo timber damage assessment expenses as a miscellaneous itemized deduction. Provides for the nontaxable treatment of the sale or exchange of timber damaged by Hurricane Hugo and of the use of such proceeds for related mortgage payments. Exempts from late-filing penalties any taxpayer affected by Hurricane Hugo who fails to file a return during a specified period. Amends the Internal Revenue Code to provide for the treatment of passive timber activities under the passive loss rules, including losses suffered as a result of Hurricane Hugo.
Bill· HRH.R. 3437 (101st)referred
United States · United States Congress · 11 October 1989
Marginal Energy Producers Incentives Act of 1989 - Amends the Internal Revenue Code with respect to the oil and natural gas allowance to allow a tax deduction to the transferee in the case of a transfer of proven oil or gas property. Increases from 50 percent to 100 percent (thus removing) the net income limitations on the use of such depletion allowances. Sets a percentage depletion allowance of 15 percent for the marginal production of domestic crude oil or natural gas by independent producers. Makes the alternative minimum tax preference for percentage depletion inapplicable to such marginal production.
Bill· HRH.R. 3433 (101st)referred
United States · United States Congress · 11 October 1989
Extends the period during which urban renovation projects must be placed in service to qualify under the Tax Reform Act of 1986 for transition relief under the accelerated cost recovery system for depreciable property.
Bill· HRH.R. 3434 (101st)referred
United States · United States Congress · 11 October 1989
Extends the period during which urban renovation projects must be placed in service to qualify under the Tax Reform Act of 1986 for transition relief under the accelerated cost recovery system for depreciable property.
Bill· HRH.R. 3431 (101st)referred
United States · United States Congress · 10 October 1989
Amends the Federal Water Pollution Control Act to authorize a State to obligate any remaining Federal water pollution control funds for certain projects in such State if progress toward achieving municipal compliance goals and deadlines of such Act is maintained.
Bill· SS. 1732 (101st)referred
United States · United States Congress · 5 October 1989
Amends the Internal Revenue Code to provide for the time of deposit of payroll taxes by employers if the monthly amount to be deducted and withheld does not exceed $10,000.
Bill· HRH.R. 3422 (101st)referred
United States · United States Congress · 5 October 1989
Amends title XVIII (Medicare) of the Social Security Act to permit the Secretary of Health and Human Services to reimburse fiscal intermediaries and carriers for administrative costs on other than a reasonable charge basis.
Bill· HRH.R. 3414 (101st)referred
United States · United States Congress · 5 October 1989
Amends the Internal Revenue Code to exclude from gross income up to $2,000, adjusted for inflation, of distributions from an individual retirement plan if: (1) the payee has attained age 59 1/2 on or before the date of distribution; and (2) the distribution is used during the taxable year to pay premiums for a long-term health care insurance policy covering necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services for the payee or a spouse meeting the same 59 1/2 year age requirement.
Bill· SS. 1723 (101st)referred
United States · United States Congress · 4 October 1989
Amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to increase from $100 to $600 the payment that may be made in a calendar year to an election official or election worker for services before liability for the hospital insurance tax is incurred.
Bill· HRH.R. 3396 (101st)referred
United States · United States Congress · 3 October 1989
Amends the Internal Revenue Code to exclude from the gross income of an individual the following qualified employer-provided transportation benefits: (1) the value of transportation in a commuter highway vehicle between the employee's residence and workplace; and (2) up to $60 per month of the value of any transit pass entitling the employee to transportation on mass transit facilities.
Bill· HJRESH.J.Res. 414 (101st)open
United States · United States Congress · 3 October 1989
Constitutional Amendment - Prohibits fiscal year Federal outlays (except those for retirement trust funds or repayment of debt principal) from exceeding receipts (except those derived from borrowing or retirement trust funds), unless three-fifths of both Houses of Congress provide for a specific excess. Directs the President, prior to each fiscal year, to transmit to the Congress a proposed budget in which outlays do not exceed receipts.
Resolution· HRESH.Res. 254 (101st)passed
United States · United States Congress · 3 October 1989
Sets forth the rule for the consideration of H.R. 2748 (intelligence services funding).
Bill· SS. 1700 (101st)reported
United States · United States Congress · 29 September 1989
Amends the Deep Seabed Hard Mineral Resources Act to authorize appropriations to carry out that Act for FY 1990 through 1994.
Bill· SS. 1705 (101st)open
United States · United States Congress · 29 September 1989
Amends the Export Administration Act of 1979 to authorize appropriations to the Department of Commerce for FY 1990, earmarking certain amounts for enforcement activities only. Requires the Secretary of Commerce, acting through the International Trade Administration, to submit to the Congress a five-year export market efficiency strategy. Requires the Secretary, in developing such strategy, to consider the best means to: (1) eliminate duplicative export promotion activities by the Department; and (2) improve and increase information and assistance to U.S. firms, particularly small-and medium-size firms, that export their products overseas. Requires the Secretary to report annually to the Congress on the export market efficiency strategy, including (in the first report) consideration of the best means to establish within the United States and Foreign Commercial Service a one-stop shop which would: (1) make information on export services from U.S. agencies available to exporters; and (2) coordinate Federal, State, local, and regional export activities with not-for-profit groups and trade associations involved in promoting exports.
Bill· SS. 1687 (101st)referred
United States · United States Congress · 28 September 1989
Repeals provisions of the Tax Reform Act of 1986 and the Technical and Miscellaneous Revenue Act of 1988 that establish nondiscrimination requirements for coverage and benefits under certain statutory employee benefit plans. (The consequence is the repeal of section 89 of the Internal Revenue Code.) Restores prior law under the Code.