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1,151 records in US in 1977
United States · United States Congress · 24 January 1977
Amends the Internal Revenue Code to allow individuals aged 65 or more an income tax deduction for nonrefundable social security taxes paid from their income.
United States · United States Congress · 20 January 1977
Amends the Internal Revenue Code to exempt from excise tax buses purchased by tax exempt organizations or by other persons for exclusive use in furnishing transportation for a State or local government or a tax exempt organization (currently, transportation must be limited to students and employees of schools).
United States · United States Congress · 20 January 1977
Amends the Internal Revenue Code to provide that the charitable deduction allowed for expenses incurred in the operation of a motor vehicle shall include the depreciation, operation and maintenance costs allocable to such operation and shall be determined in the same manner as for a business related deduction.
United States · United States Congress · 20 January 1977
Increases the amounts excludable from gross income as income earned abroad by repealing the provisions respecting such exclusions enacted in the Tax Reform Act and restoring former law.
United States · United States Congress · 20 January 1977
Amends the Internal Revenue Code to allow an income tax deduction by individuals who rent their principal residence for their appropriate share of the real property taxes and interest on indebtedness (incurred for the construction, acquisition or improvement of their dwellings) paid by their landlord.
United States · United States Congress · 20 January 1977
Amends the Internal Revenue Code to allow individuals an income tax credit for funds expended for the payment of public transit fares between their residences and places of employment.
United States · United States Congress · 20 January 1977
Amends the Internal Revenue Code to provide identical income tax rates for single persons and married couples filing joint returns.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to provide an income tax exclusion for residents of Hawaii and Alaska for the same percentage of their earned income as equals the percentage of pay received by Federal employees in those States as a cost-of-living allowance. Limits the exclusion to non-Federal employees.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to allow individuals an income tax deduction equal to the percentage of their total allowable personal exemptions which equals the percentage by which their State's cost of living exceeds the national average. Disallows application of this deduction to Federal pay and allowances.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to provide a deduction for State and local taxes imposed on the furnishing or sale of electrical energy, water, sewage disposal services, gas, or telephone services.
United States · United States Congress · 19 January 1977
Authorizes the Secretary of the Treasury to prescribe regulations, under the Internal Revenue Code, requiring individuals filing income tax returns to include information concerning any interest or authority they had (during the period covered by the return) over any banks, securities or other financial accounts in a foreign country, or with any foreign trust. Allows the Secretary to require disclosure of such information as he determines is necessary to fulfill the purpose of the recordkeeping requirements of the Currency and Foreign Transactions Reporting Act (presently, such records cannot be obtained except through judicial or administrative process). Provides a $100 penalty for failure to report the required information. Authorizes the Secretary to disclose such information to any other Federal department or agency for use in its official duties.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to provide for the tax exclusion of interest on industrial development bonds for the construction of hospitals.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to increase the excise tax on cigarettes. Amends the Public Health Service Act to authorize the appropriation of the additional revenues so raised to the National Heart and Lung Institute.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to allow taxpayers to credit against the income tax specified higher education expenses, including tuition, fees, books and supplies, incurred by the taxpayer for himself or any dependent. Limits the credit to 100 percent of the first $200 for any individual, 25 percent of the next $300, and 5 percent of the next $1,000. Limits the credit to expenses incurred by full time students at institutions of vocational and higher education, minus scholarships and veterans' benefits. Limits the total credit allowed the taxpayer to his income tax liability minus the sum of all other credits applied thereto. Disallows any deduction of educational expenses used to determine the amount of the credit allowed by this Act.
United States · United States Congress · 19 January 1977
Allows a tax deduction up to $750 for ordinary and necessary expenses incurred by a taxpayer under the Internal Revenue Code in making repairs and improvements to his residence during the taxable year. Allows the owner of rental housing to amortize at an accelerated rate (over a 60-month period) the cost of rehabilitating or restoring such housing. Authorizes the taxpayer to switch from such accelerated amortization to the regular depreciation deduction allowable under the Internal Revenue Code for property used in a trade or business or held for the production of income.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to allow an income tax deduction for new investments in the taxpayer's trade or business. Limits the deduction to $40,000 or 20 percent of the business' net income, whichever is less.
United States · United States Congress · 19 January 1977
Authorizes the Administrator of Veterans' Affairs to purchase from one or more life insurance companies a policy or policies of mortgage protection life insurance on a group basis for veterans (other than permanently and totally disabled veterans), who are unable to obtain commercial life insurance because of a service-connected disability. Sets forth the maximum amount of insurance under a policy provided under this Act at no more than $30,000. Authorizes the Administrator to deduct insurance premiums from any compensation or other cash benefits payable to veterans by the Veterans' Administration, and to pay such premiums to the insurers. Provides that the United States shall bear all costs of the insurance provided under this Act, except the amount of premium rates. States that any amount of insurance in force under this Act on the date of death of an insured veteran shall be paid only to the holder of the mortgage loan on the veteran's home as a credit toward loan indebtedness. Requires each policy purchased under this Act to provide for the following: (1) reinsurance with other insurers which meet the Administrator's criteria; (2) that the Administrator may discontinue a whole policy, or exclude from issuance to each insured veteran of a certificate setting forth the benefits to which he is entitled; (3) any other provisions necessary to carry out this Act; and (4) an annual accounting to the Administrator of the amount of premiums paid, the total of all mortality and other claim charges incurred, and the amount of the insurer's expenses and risk charges. States that insurance under this Act shall terminate upon whichever first occurs: (1) satisfaction of the veteran's indebtedness under the loan upon which the insurance is based; (2) the veteran's 70th birthday; (3) termination of the veteran's ownership of the property securing the loan; (4) discontinuance of payment of premiums by the veteran; or (5) discontinuance of the entire contract or agreement.
United States · United States Congress · 19 January 1977
Freedom of Access for the Elderly and Handicapped Act - Authorizes a taxpayer, under the Internal Revenue Code, to elect to treat qualified architectural and transportation barrier removal expenses which are paid or incurred during the taxable year as expenses which are not chargeable to capital account. Deems such expenses so treated as allowable tax deductible expenditures.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to deny foreign tax credits, DISC benefits, and other tax benefits to companies cooperating with countries demanding that such companies boycott Israel, Israeli clients, or companies owned or managed by Jewish individuals.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to provide an additional income tax exemption for each taxpayer, spouse, or dependent who is suffering from a mental or physical disability which constitutes a substantial handicap to employment or education.
United States · United States Congress · 19 January 1977
Amends the Housing and Community Development Act to provide that units of general local government receiving grants, under the hold-harmless provisions of such Act, shall be entitled, after fiscal year 1977, to continue to receive the amount to which they are presently entitled.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to limit the application of the Tax Reform Act's elimination of the sick pay exclusion for persons who have not retired on total disability, to taxable years beginning after December 31, 1976.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to increase each of the standard personal exemptions to $1,200.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to change the tax exemption for wine produced for personal consumption to allow an adult to produce (1) 200 gallons of wine for personal consumption per year if there are two or more adults in the household, or (2) 100 gallons for such consumption if there is only one adult in the household. Allows a tax exemption for beer produced by an adult for personal consumption in the amounts set forth above.
United States · United States Congress · 19 January 1977
Economic Development Revenue Bond Act - Amends the Internal Revenue Code to restrict the tax exclusion of interest on industrial development bonds to issues having an aggregate face amount of $50,000,000 or less, the proceeds of which are to be used for the acquisition, construction or improvement of land or depreciable property in certified economic development areas, or for the redemption of such issues. Provides for the annual certification by the Secretary of Commerce of qualified areas which meet the criteria and purpose of the Public Works and Economic Development Act. Allows the continued exclusion of industrial development bonds excludable before this Act where the bonds were issued or authorized before enactment, or where a governmental unit or other person has made specified types of financial commitments relating to such issues before enactment. Allows national banks to deal in and underwrite industrial development bonds for economic development areas.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to allow a limited income tax deduction for retirement savings by persons who are active participants in other retirement benefit plans qualifying for special tax consideration.
United States · United States Congress · 19 January 1977
Older Americans' Tax Savings Act - Allows a reimbursement under the Internal Revenue Code for property taxes to persons 65 and over. Limits such reimbursement to the lesser of $480, or the property taxes accrued, and to claimant whose household income is lower than $5,000.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to exempt farming vehicles from the highway motor vehicle excise tax, excepting vehicles owned by corporations with gross annual receipts exceeding $950,000, or which derive more than 50 percent of their gross receipts from non-farming activities.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to provide that taxpayers shall not be required to pay the principal or interest for underpayments of taxes for any period prior to April 16, 1977 (March 16, 1977 in the case of a corporation), nor penalized for any failure to withhold and deduct taxes on remuneration paid before 1977, to the extent that such failures or underpayment are attributable to new or increased tax liabilities imposed by the Tax Reform Act.
United States · United States Congress · 19 January 1977
Cigarette Health Protection Tax Act - Amends the Internal Revenue Code to substitute a health protection tax on cigarettes manufactured in or imported into the United States for the present tax. Sets forth graduated tax rates based on the tar and nicotine content of each cigarette. Directs the Federal Trade Commission to determine the tar and nicotine content of each brand of cigarettes manufactured in or imported into the United States, and to certify these findings to the Secretary of the Treasury.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to allow a deduction for the current fair market value charitable contributions of literary, musical or artistic compositions created by the taxpayer, without any reduction for appreciation.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to limit the application of the Tax Reform Act's elimination of the sick pay exclusion for persons who have not retired on total disability, to taxable years beginning after December 31, 1976.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to allow taxpayers to credit against the income tax specified higher education expenses, including tuition, fees, books, and supplies, incurred by the taxpayer for himself or any dependent. Limits the credit to 100 percent of the first $200 for any individual, 25 percent of the next $300, and 5 percent of the next $1,000. Limits the credit to expenses incurred by full time students at institutions of vocational and higher education, minus scholarships and veterans' benefits. Limits the total credit allowed the taxpayer to his income tax liability minus the sum of all other credits applied thereto. Disallows any deduction of educational expenses used to determine the amount of the credit allowed by this Act.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to allow the taxpayer to take either a tax credit or deduction for expenditures for the improvement of the thermal design of his principal residence. Applies this credit and deduction to the cost of any storm door, storm window, or solar heating and cooling equipment included in the taxpayer's principal residence when purchased. Limits the allowable credit under this Act for each taxable year to: (a) 25 percent of the expenditures paid for the purchase of solar heating equipment or conventional equipment (storm windows, etc.); and (b) $1,000, of which no more than $250 may be taken for conventional materials. Limits the credit taken in any one year to the difference between the taxpayer's income tax liability and specified credits, with a carryback and carryover provision for any unused amount. Allows the taxpayer to take a deduction in lieu of this credit for up to $4,000 in expenditures, of which no more than $1,000 may be claimed for the purchase of conventional materials. Directs the Secretary of the Treasury and the Administrator of the Federal Energy Administration to make a report to Congress by September 15, 1978 analyzing the amount, type, geographic location and energy savings represented by the deductions and credits taken under this Act. Applies to expenses incurred from January 1, 1977 through December 31, 1981.
United States · United States Congress · 19 January 1977
Authorizes appropriations in specified amounts for fiscal year 1978 for the procurement of naval vessels for the armed forces. Prohibits the obligation of funds authorized under this Act for the DD6-47 guided missile destroyer program for material or components which are not suitable for use in a nuclear powered strike cruiser until the President has made certain determinations and has reported them to the Congress.
United States · United States Congress · 19 January 1977
Constitutional Amendment - Provides that total appropriations shall not exceed estimated revenues. Authorizes the suspension of such prohibition in time of war or by a concurrent resolution passed by the Senate and the House stating that a national emergency requires such suspension.
United States · United States Congress · 19 January 1977
Expresses the sense of Congress that: (1) the Internal Revenue Service should simplify the Federal income tax forms; (2) State and local governments should model their income tax forms on the Federal forms; and (3) Congress should simplify the language of the Internal Revenue Code.
United States · United States Congress · 18 January 1977
Amends the Internal Revenue Code to allow limited income tax credit for the higher education expenses paid for the taxpayer, his spouse, and his dependents.
United States · United States Congress · 17 January 1977
Amends the Internal Revenue Code to allow a taxpayer who has attained the age of sixty to claim a limited amount as a credit against his income tax, and refund, equal to any amount in excess of his tax for the real property taxes paid by him, or for the amount of his rent constituting such taxes.
United States · United States Congress · 17 January 1977
Amends the Internal Revenue Code to limit the application of the Tax Reform Act's elimination of the sick pay exclusion for persons who have not retired on total disability, to taxable years beginning after December 31, 1976.
United States · United States Congress · 17 January 1977
Amends the Internal Revenue Code to provide that children's survivor benefits from the Veterans' Administration and children's insurance benefits under the Social Security Act shall be disregarded when determining whether a child receives a sufficient percentage of his support from the taxpayer to qualify as a dependent.
United States · United States Congress · 17 January 1977
Amends the Internal Revenue Code to allow a medical deduction, without regard to the three percent floor, for those expenses paid for the medical care of the taxpayer, his spouse, or any dependent of the taxpayer, if that individual is mentally retarded or handicapped.
United States · United States Congress · 17 January 1977
Amends the Internal Revenue Code to provide a tax exclusion for persons aged 65 or over for any amount received as an annuity, pension, or other retirement benefit. Limits the exclusion to $7,500 for single individuals and $5,000 for each married individual.
United States · United States Congress · 17 January 1977
Disapproves all recommendations regarding salary adjustments for Members of Congress, and specified legislative, judicial, executive, and postal positions, which were transmitted to Congress by the President in the budget for fiscal year 1978.
United States · United States Congress · 14 January 1977
Requires the Comptroller General to regularly audit the Internal Revenue Service and the Bureau of Alchohol, Tobacco, and Firearms. Provides the Comptroller General with access to tax returns for conducting such audits but requires that no employee or officer of the General Accounting Office may divulge or make known in any manner to any person not a proper employee of such Office any tax return information in a form which can be identified with a particular taxpayer. Requires the Comptroller General to report annually to Congress with respect to procedures and requirements which he has established with the subjects of his audits for protecting the confidentiality of tax returns and tax return information and any findings or recommendations developed by the Comptroller General including any significant evidence of inefficiency or mismanagement.
United States · United States Congress · 14 January 1977
Municipal Taxable Bond Alternative Act - Amends the Internal Revenue Code to allow a State, a possession of the United States, any political subdivision of any of the foregoing, or the District of Columbia, to elect to issue taxable obligations, the interest of which will be included in the gross income of the recipient. Directs the Secretary of the Treasury to pay without condition or requirement 40 percent of the interest yield on each obligation for which the election of taxability has been made.
United States · United States Congress · 14 January 1977
Amends the Internal Revenue Code to exempt farm and soil and water conservation trucks from the Highway Use Tax.
United States · United States Congress · 14 January 1977
Provides that health maintenance organizations extending basic health services under the Health Maintenance Organization Act shall be tax exempt under the Internal Revenue Code.
United States · United States Congress · 13 January 1977
Amends the Internal Revenue Code to provide for the refund of excise taxes paid on alcoholic beverages where the beverages are destroyed prior to final sale through disaster, breakage or destruction resulting from vandalism or malicious mischief.
United States · United States Congress · 13 January 1977
Amends the Internal Revenue Code to provide income, estate and gift tax deductions for charitable contributions for the construction or maintenance of buildings for tax-exempt lodge organizations.