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1,151 records in US in 1979
United States · United States Congress · 29 January 1979
Amends the Internal Revenue Code to allow taxpayers who maintain a household in which a dependent aged 65 or over resides an income tax credit or deduction. Allows a credit of $250 or a deduction of $1,000 for the taxable year.
United States · United States Congress · 29 January 1979
Anti-Inflation Tax Reduction and Reform Act - Amends the Internal Revenue Code to require annual cost of living adjustments to individual income tax brackets and to withholding tables.
United States · United States Congress · 29 January 1979
Amends the Internal Revenue Code to permit holders of life insurance policies to receive tax free income under annuity contracts funded by segregated exempt interest accounts in which 50 percent of the assets of such accounts consist of tax-exempt State or local government securities. Disallows tax deductions for expenses and interest incurred by life insurance companies in the maintenance of such exempt-interest asset accounts.
United States · United States Congress · 29 January 1979
Tax Rate Reduction and Indexing Act of 1979 - Title I: Individual Tax Rates - Amends the Internal Revenue Code to reduce the income tax rates for individuals for the taxable years 1980 through 1982. Title II: Inflation Adjustment - Requires the Secretary of the Treasury, not later than December 15 of each calendar year beginning in 1982, to prescribe individual income tax rate tables: (1) by increasing the maximum dollar amount on which no tax is imposed under each table, and the minimum and maximum dollar amounts for each rate bracket for which a tax is imposed, by the cost-of-living adjustment for such year; (2) by not changing the rate applicable to any rate bracket as adjusted; and (3) by adjusting the amounts setting forth the tax to the extent necessary to reflect the adjustments in the rate brackets. Declares the cost-of-living adjustment for any calendar year as the percentage by which the Department of Labor's Consumer Price Index for all-urban consumers for the preceding calendar year exceeds the Consumer Price Index for calendar year 1981. Requires cost-of-living adjustments in zero bracket amounts, personal tax exemptions, and withholding taxes. Sets the minimum gross income for which an income tax return is required from certain individuals at an amount less than the sum of the exemption amount plus the applicable zero bracket amount.
United States · United States Congress · 29 January 1979
Amends the Internal Revenue Code to allow heads of households the same zero bracket amount ($3,200) as allowed married couples filing jointly.
United States · United States Congress · 29 January 1979
Requires that until further Congressional action is taken, the determination of whether an individual is an employee for purposes of social security taxation, unemployment taxation, and income tax withholding shall be made in accordance with audit practices and regulations in effect December 31, 1975.
United States · United States Congress · 29 January 1979
Amends the Internal Revenue Code to increase the amount of employer-paid group-term life insurance premiums excluded from the gross income of employees to $100,000.
United States · United States Congress · 29 January 1979
Amends the Internal Revenue Code to allow an income tax credit of $10 for each ton of waste paper which is recycled by the taxpayer. Allows a 100 percent credit up to $25,000 and a 50 percent credit for expenses in excess of $25,000. Permits a carryback of three years and a carryover of seven years of any amount of the tax credit which exceeds applicable limits in the year in which it is claimed.
United States · United States Congress · 29 January 1979
Amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to exclude certain mission societies and their missionary members from social security taxes.
United States · United States Congress · 29 January 1979
Amends the Internal Revenue Code to disallow the income tax deduction for expenses of lobbying before Congress or other legislative bodies.
United States · United States Congress · 29 January 1979
Expresses the sense of Congress that: (1) the Internal Revenue Service should simplify Federal income tax forms to make them easily understandable; (2) State and local Governments which impose an income tax should model their tax forms on the simplified Federal forms; and (3) Congress should revise the language of the Internal Revenue Code to make it easily understandable to the average citizen.
United States · United States Congress · 29 January 1979
Expresses the sense of Congress that the Internal Revenue Service should not adopt the "Proposed Revenue Procedure on Private Tax-Exempt Schools", which sets forth guidelines for determining whether a private school has forfeited its tax-exempt status by the adoption of racially discriminatory policies.
United States · United States Congress · 25 January 1979
Amends the Internal Revenue Code, with regard to income tax deductions for depreciation, to increase, in any reasonable allowance, the permissible variance from a particular class life from 20 percent to 30 percent. Permits the taxpayer to disregard salvage value in computing such allowance. Establishes, for any small business whose adjusted tax basis in assets (other than real estate) is $250,000 or less, a straight line depreciation table of specific depreciation lives for specified assets.
United States · United States Congress · 25 January 1979
Prohibits the issuance of any regulations by the Internal Revenue Service on employer fringe benefits after April 30, 1979.
United States · United States Congress · 25 January 1979
Amends the Internal Revenue Code to permit taxpayers who do not itemize income tax deductions to claim a deduction from gross income for charitable contributions.
United States · United States Congress · 25 January 1979
Provides for supplementary payments to Guam and the Virgin Islands to offset losses in tax revenues due to the enactment of the Tax Reduction Act of 1975, the Revenue Adjustment Act of 1975, the Tax Reform Act of 1976, the Tax Reduction and Simplification Act of 1977, and the Revenue Act of 1978.
United States · United States Congress · 25 January 1979
Amends the Internal Revenue Code to allow certain individuals to compute the amount of the income tax deduction for retirement savings on the basis of the earned income of their spouses.
United States · United States Congress · 25 January 1979
Tuition Tax Credit Act of 1979 - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for 25 percent of the tuition paid for the elementary, secondary, college, or post-secondary vocational education of the taxpayer, his spouse, or any of his dependents. Sets forth maximum dollar amounts allowable as a credit for calendar years 1979 through 1982, after which the credit expires. Treats tuition payments as paid for calendar year 1979 only if such payments are made on or after August 1, 1979, and before February 1, 1980, for education furnished on or after August 1, 1979, and before January 1, 1980. Treats tuition payments as paid for calendar years 1980 and thereafter only if such payments are made during the particular calendar year or within one month of the beginning or close of such calendar year for education furnished during that year. Defines full-time and qualified half-time student. Excludes from the definition of "tuition" any amounts paid for books, supplies, equipment for coursework, meals, lodging, transportation, or similar personal expenses. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an eligible educational institution within the meaning of this Act. Provides for the immediate certification of any judicial action brought in a United States district court concerning the constitutionality of this Act to the appropriate circuit court of appeals. Authorizes direct appeal to the Supreme Court of any decision by a circuit court. Requires the expedited consideration of such a case at both judicial levels. Requires the disregard of any amount received by the taxpayer as a tuition tax credit for purposes of determining the eligibility of the taxpayer for Federal, State, or local educational assistance.
United States · United States Congress · 25 January 1979
Amends the Internal Revenue Code to disallow an income tax deduction for business expenses incurred in advertising cigarettes.
United States · United States Congress · 25 January 1979
Amends the Internal Revenue Code to subject nonresident aliens and foreign corporations to a tax on the gain from the sale or exchange of farm or rural lands situated in the United States. Requires foreign corporations which hold United States farm lands comprising 20 percent of their assets to make reports on such holdings as the Secretary of the Treasury may require.
United States · United States Congress · 25 January 1979
Constitutional Amendment - Prohibits total Government expenditures from exceeding estimated revenues by more than two percent during any fiscal year. Authorizes suspension of such prohibition in time of war declared by Congress or national emergency declared by a two-thirds vote of both Houses of Congress and approved by the President. Requires any deficit to be extinguished within five fiscal years. Applies any surplus to the revenues of the Government in the succeeding fiscal year.
United States · United States Congress · 25 January 1979
Creates a Select Committee on the Fiscal Problems of Cities to conduct a study to identify the nature and causes of problems afflicting large cities which face severe (current or potential) fiscal imbalance. Directs the committee to develop a general policy regarding the appropriate roles of various levels of government in solving these problems. States that the committee shall evaluate the consequences of, and coordination among, existing Federal policies and programs. Directs the committee to formulate specific recommendations for modifications on alternatives to present Federal programs. Authorizes the committee to report to the House by bill, resolution, or otherwise with respect to any matters covered by this resolution.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to subject nonresident aliens, estates, trusts, partnerships, and foreign corporations to a tax on the gain from the sale or exchange of farm or rural lands situated in the United States. Requires foreign corporations which hold United States farm lands comprising 20 percent of their assets to make reports on such holdings as the Secretary of the Treasury may require.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to require the Secretary of the Treasury to make annual adjustments in the individual income tax brackets according to a specified formula incorporating increases in the Consumer Price Index. Requires the Council on Wage and Price Stability to study the impact of the amendments made by this Act and to report its findings to Congress and the President no later than July 1, 1982.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to exclude from gross income up to $500 of the interest earned on a savings account.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to exclude from gross income up to $5,000 of an individual's civil service retirement annuity.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to entitle individuals who retired on disability before October 1, 1976, to the exclusion from gross income for amounts received under accident and health plans without regard to the applicable income restrictions.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to exclude from gross income up to $100 of the interest earned on a savings account.
United States · United States Congress · 24 January 1979
Permits taxpayers to designate on their income tax returns whether they wish to contribute any portion of their income tax refund or make any additional contribution to the support of either the arts or the humanities. Directs the Secretary of the Treasury to amend income tax return forms to provide a notice to taxpayers of their option to contribute. Authorizes the payment of 50 percent of taxpayer refunds or contributions designated for the arts to the National Endowment for the Arts and 50 percent to State Art Agencies. Specifies purposes for which such funds may be used and imposes restrictions on the use of such funds for administrative purposes or for research projects. Treats payments of funds to State agencies as donations from private persons and not as Federal assistance. Authorizes the payment of 80 percent of taxpayer refunds or contributions designated for the humanities to the National Endowment for the Humanities and 20 percent to State Humanities Entities. Specifies purposes for which such funds may be used and imposes restrictions on the use of such funds for administrative purposes or for research projects. Treats payments of funds to State Humanities Entities as donations from private persons and not as Federal assistance. Prohibits any Endowment or agency to which funds are paid under this Act from requiring any applicant for funds to raise additional funds or meet any matching requirements. Prohibits the use of funds raised by this Act to make grants to any institutions which hold such funds for investment. Limits the amount of funds which any institution may receive under this Act according to a specified percentage of the institution's operating budget.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to eliminate the age requirement and the adjusted sales price limitation for purposes of the exclusion from gross income of the gain from the sale or exchange of an individual's principal residence.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to allow an income tax deduction, not to exceed $200, for 50 percent of the expenses paid or incurred by a sight-, speech-, or hearing-impaired individual for the purchase or installation of a teletypewriter.
United States · United States Congress · 24 January 1979
Higher Education Funding Act of 1977 - Amends the Internal Revenue Code to allow an income tax deduction for contributions to a qualified higher education fund established by the taxpayer to fund the higher education of his dependents. Limits the amount of the deduction to the lesser of: (1) $750 times the number of qualified beneficiaries; (2) 15 percent of the taxpayer's adjusted gross income; or (3) $7,500. Provides that a qualified education fund must be established by the taxpayer pursuant to a written plan: (1) which is designed to defray the cost of room, board, and tuition of one or more eligible beneficiaries at an institution of higher education; (2) which provides that no distribution shall be made by the fund (except upon termination) other than to, or on behalf of, eligible beneficiaries; (3) which provides that upon termination of the fund all assets of the fund shall be distributed to the taxpayer or to his estate; (4) which prohibits contributions to the fund in excess of amounts deductible; and (5) under which the taxpayer includes in gross income certain amounts attributable to the fund upon termination of such fund.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to exempt nonprofit volunteer firefighting or rescue organizations from the excise tax on sales of special fuels, automotive parts, petroleum products, and communication services.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to provide identical income tax rates for single persons and married couples filing joint returns. Limits the earned income that must be reported by a married person filing a separate return
United States · United States Congress · 24 January 1979
Tuition Tax Credit Act of 1979 - Amends the Internal Revenue Code to allow individuals a refundable income tax credit for 50 percent of the tuition paid to elementary, secondary, vocational,, or higher educational institutions for the education of such individuals, their spouses, or dependents. Limits the amount of such credit to $500 per individual for the taxable year.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to allow an employer an income tax credit for the first 12 months of wages paid to a handicapped new employee.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to subject nonresident aliens and foreign corporations to a tax on the gain from the sale or exchange of farm or rural lands situated in the United States. Requires foreign corporations which hold United States farm lands comprising 20 percent of their assets to make reports on such holdings as the Secretary of the Treasury may require.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to allow taxpayers an income tax credit for their higher education and vocational school expenses. Allows a credit for 100 percent of such expenses which do not exceed $200, 25 percent of expenses between $200 and $500, and five percent of expenses between $500 and $1,500. Reduces the amount of such credit by one percent of the amount by which the taxpayer's adjusted gross income exceeds $22,500. Defines "higher education expenses" as tuition, fees, books, supplies, and equipment required for coursework above the twelfth grade level. Excludes expenses for meals, lodging, or similar personal expenses.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to disallow the income tax deduction for depreciation to a landlord who has been convicted of violating a housing code.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to allow a nonrefundable income tax credit to taxpayers who maintain a household in which individuals age 61 or older reside as their principal place of residence. Limits the credits to $250 multiplied by the number of aged individuals residing in the household.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to permit taxpayers an election to treat expenditures for making buildings or public transportation vehicles accessible to the handicapped and elderly as current expenses and thus deductible from gross income in the current taxable year.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to allow individuals who rent their principal residence an income tax deduction for a portion of the real property taxes paid or accrued by their landlord.
United States · United States Congress · 24 January 1979
Establishes a Task Force on the Taxation of Real Property by State and local Governments to study and evaluate such taxation, its effects on middle and fixed income taxpayers, and the feasibility of using Federal taxation and other policies to reduce the dependence of State and local governments on such taxation. Sets forth the membership composition and powers of the Task Force. Requires the Task Force to submit a final report to the President within one year. Terminates the Task Force 90 days after submission of such report.
United States · United States Congress · 24 January 1979
Sunset Act of 1979 - Title I: Reauthorization of Government Programs - Sets forth a ten-year schedule for reauthorization of all Federal programs according to budget function and subfunction as set forth in the Budget of the United States Government for Fiscal Year 1979. Sets forth the procedure in the House of Representatives and the Senate for the consideration of any bill, resolution, or amendment which authorizes new budget authority. States that it is not in order for either House to consider any legislation which authorizes the enactment of new budget authority for a program for a period of more than ten years, for an indefinite period, or for any fiscal year beginning after the next reauthorization date applicable to such program. Provides that before the Congress can appropriate funds for any program, after its first reauthorization date, there must be a specific authorization in law to support the appropriation. Requires the committees of the Senate and House of Representatives to conduct a sunset review of programs during the Congress in which such programs are scheduled for review. Requires that the report accompanying such reauthorization contain specified information, and that the report be completed during the Congress in which the program is scheduled for reauthorization. Exempts from the requirements of this Act specified programs such as interest on Federal debts, health care services, general retirement and disability payments, as well as litigation activities which have as their objectives the protection and implementation of civil rights guaranteed by the Constitution of the United States and specified retirement pay and benefits. Allows the reauthorization schedule set forth in this Act to be changed by concurrent resolution of the two Houses of Congress and sets forth the procedure for such change. Requires all legislation and other matters related to changes in the dates for programs under this Act to be referred to the committee with legislative jurisdiction over any program affected by the proposal and, sequentially, to the Committee on Rules in the House of Representatives and to the Committee on Rules and Administration in the Senate. Requires such committees to report any concurrent resolution or bill referred to it by a committee of legislative jurisdiction within 30 days, with a statement on each of its recommendations. Makes provisions for any proposed change which has been reported by a committee before June 1, 1980. Title II: Program Inventory - Directs the Comptroller General and the Director of the Congressional Budget Office, in cooperation with the Director of the Congressional Research Service, to prepare an inventory of Federal programs. Declares that the purpose of such program inventory is to advise and assist Congress in carrying out the reauthorization and reexamination requirements and to link such reauthorization and review process with the budget process. Requires the Comptroller General to submit such program inventory to each House of Congress no later than January 1, 1980. Sets forth the contents of the inventory program, including the type of authorization provided for such programs' new budget authority; and the manner in which related program areas may be grouped for evaluation and review. Permits the congressional committees, the Congressional Budget Office, and the Congressional Research Service to review the program inventory and suggest revisions. Requires that the program inventory be revised at the end of each session of Congress, and that such revisions be reported to each House. Requires that periodic reports tabulate the progress of congressional action on bills and resolutions authorizing budget authority for programs in the inventory. Requires the Comptroller General and the Director of the Congressional Budget Office to submit periodic reports to the Congress on the adequacy of the functional and subfunctional categories for grouping programs of like missions or objectives. Title III: Program Reexamination - Requires each committee of the Senate and the House of Representatives to reexamine selected programs or groups of programs over which it has jurisdiction. Sets forth procedures for such review, and criteria for selection of program areas for evaluation. Directs each committee to consult with the appropriate committees of either the House of Representatives or the Senate in order to achieve coordination of program reevaluation and inform itself of the related activities of or available assistance from the General Accounting Office, the Congressional Budget Office, the Congressional Research Service, the Office of Technology Assessment, and appropriate instrumentalities in the executive and judicial branches. Requires each committee to deliver a report on the reexamination to the Secretary of the Senate or the Clerk of the House at the date specified in the funding resolution first reported by such committee in 1981 and thereafter for the first session of each Congress. Allows two or more committees which have legislative jurisdiction over the same programs or portions of the same programs to examine such programs jointly and submit a joint report. Stipulates that such report: (1) contain the findings, recommendations, and justifications of the program; and (2) include specified information including, but not limited to, an assessment of the cost-effectiveness of the program and an identification of any trends, developments, and emerging conditions which are likely to affect the nature and extent of the problems or needs which the program is intended to address. Requires each executive department or agency which is responsible for a program selected for reexamination to submit a report to the Office of Management and Budget and to the appropriate committees of the Congress on its findings, recommendations, and justifications of specified aspects of the program. Title IV: Citizens' Commission on the Organization and Operation of Government - Establishes, as an independent instrumentality of the United States, the Citizens' Commission on the Organization and Operation of Government to conduct a nonpartisan study and investigation of the organization and methods of operation of all departments, agencies, independent instrumentalities, and other authorities of the executive branch of the Government, and to make such recommendations as it determines are necessary to promote economic, efficient and improved services in the transaction of public business. Requires the Commission to submit interim reports to the President and the Congress, and to submit a final report with its findings and recommendations. Requires the Comptroller General to report once a year for two years after submission of the Commission's final report on the status of actions taken as a result of the report. Specifies the composition of the 15-member Commission and sets forth the duties and powers of the Commission. States that the Commission shall cease to exist 90 days after submission of its final report. Authorizes to be appropriated until September 30, 1984, without fiscal year limitations, $4,000,000 to carry out the provisions of this Title. Title V: Regulatory Impact - Requires the President to submit, at the beginning of each of the five congresses beginning with the 97th Congress, an analysis of the purposes, function, and efficiency of 16 specified regulatory agencies. Requires the President to submit legislative plans, based on such analyses, for the improvement of operations of such agencies. Establishes a schedule according to which plans for specified agencies will be submitted early in each of the five congresses for which the required analyses are submitted. Directs the President, with each plan, to submit a report on the cumulative impact of government regulatory activity on specific industry groupings. Directs the Comptroller General and the Director of the Congressional Budget Office to assess each of the agencies included in the President's plan and to analyze the plan, and submit such information to the Congress. Title VI: Government Accountability - Requires the President, beginning with the first year of the 97th Congress, to submit biennially, as part of the budget, a report on the management of the executive branch. Requires the Director of the Office of Management and Budget to provide an evaluative report on Federal programs to the President to be included with the President's report. Title VII: Tax Expenditures - Requires the Director of the Congressional Budget Office, after consultation with the Joint Committee on Taxation of the Congress, to prepare an inventory of tax expenditure provisions and to submit a report on such inventory to the Committee on Ways and Means of the House and the Senate Finance Committee. Defines the term "tax expenditure provision" as any provision of Federal law which allows a special exclusion, exemption, or deduction in determining liability for any tax or which provides a special credit against any tax, a preferential rate of tax, or a deferral of tax liability. Specifies the contents of the report which include an estimate of the revenue loss from each tax provision. Requires the Director to: (1) submit a revised inventory to each House of Congress by December 1, 1980; (2) revise the inventory after the close of each session of Congress and report such revisions to Congress; and (3) periodically report on congressional action on bills and resolutions which create or affect tax provisions. Directs the House Committee on Ways and Means and the Senate Committee on Finance to prepare a reauthorization schedule for all tax provisions similar to the schedule set out for Federal programs in title I of this Act. Requires Congress to take final action on the reauthorization schedule for tax provisions before the end of the 96th Congress. Provides that each tax expenditure provision shall expire unless it is reauthorized by a law enacted during the Congress in which it is scheduled for review. Sets forth procedures and restrictions for the consideration of bills reauthorizing tax provisions, which are similar to the restrictions and procedures governing bills authorizing new budget authority for Federal programs as described in title I. Requires that the report accompanying a reauthorization bill include specified information. Permits Congress to prescribe technical rules as may be necessary to mitigate adverse effects which might result for taxpayers who rely on a certain tax provision. Title VIII: Miscellaneous - Amends the Budget and Accounting Act of 1921 to permit the committees of Congress to obtain from the agencies of the Government estimates or requests for appropriations or requests for increases in an item of any such estimate or request, and recommendations as to how the revenue needs of the Government should be met. Declares that nothing shall require the public disclosure of records which are specifically authorized under criteria established by an Executive order to be kept secret in the interest of national defense or foreign policy and are in fact properly classified pursuant to such Executive order, or which are otherwise specifically protected by law. Sets forth administrative procedures and requirements. Directs the President, with the cooperation of the head of each appropriate agency, to submit to the Congress a "Regulatory Duplication and Conflicts Report" for all programs scheduled for reauthorization in the next Congress. Stipulates that each such report identify duplicative or conflicting rules and regulations promulgated by executive departments, independent agencies, and State and local governments and contain recommendations which address such conflicts or duplications. Defines the term "required authorization waiver resolution" for purposes of this Act. Sets forth the procedure which the chairman of the committee of the Senate or the House of Representatives having legislative jurisdiction over programs must follow in order to introduce a required authorization waiver resolution. Makes it the duty of the Committees on Governmental Affairs and on Rules and Administration of the Senate and the Committees on Government Operations and on Rules of the House of Representatives to review the operation of the procedures established by this Act and to submit a report every five years beginning December 31, 1986. Authorizes to be appropriated through fiscal year 1990 such sums as may be necessary to carry out the review requirements and for the compilation of the inventory of Federal programs.
United States · United States Congress · 24 January 1979
Amends the Internal Revenue Code to exclude from the gross income of individuals who have attained age 65 up to $5,000 of interest income earned on a savings account. Reduces the amount excluded by so much of the taxpayer's adjusted gross income as exceeds $10,000.
United States · United States Congress · 24 January 1979
Taxpayer Audit Disclosure Act of 1979 - Amends the Internal Revenue Code to require the Secretary of the Treasury to report to the Joint Committee on Internal Revenue Taxation the specific criteria which the Internal Revenue Service uses in choosing taxpayers for an audit of their income tax returns. Requires the Secretary to notify in writing those taxpayers selected for audits of the reasons for their selection and directs that such taxpayers be furnished with written explanations of the audit procedure, what rights a taxpayer may exercise during an audit, and what appeals a taxpayer may take from an adverse decision. Requires the Secretary to report annually to the Joint Committee on Internal Revenue Taxation on: (1) the number of audits conducted in the previous 12 month period; (2) a breakdown of individuals audited by income, geography, and profession; and (3) the number of individuals who filed erroneous returns during the previous 12 month period.
United States · United States Congress · 24 January 1979
Older Americans' Tax Savings Act of 1979 - Permits individuals age 65 or over to claim a reimbursement for property taxes accrued for a taxable year. Limits the amount of such reimbursement to the lesser of the property taxes accrued or $480. Prohibits any reimbursement to a claimant whose household income exceeds $5,000 per year. Sets forth procedures for the Internal Revenue Service in making reimbursements to claimants, verifying claims, obtaining information regarding claims, and for recovering fraudulent claims.
United States · United States Congress · 24 January 1979
Guaranteed Post-Secondary Education for Americans Act - Amends the Internal Revenue Code to allow an income tax credit for the education expenses of any individual at an institution of post-secondary education. Allows a credit for 80 percent of expenses under $500, 60 percent of expenses between $500 and $1,000, and 40 percent of expenses between $500 and $2,250. Requires an annual cost of living adjustment to these expense limits. Limits the credit to the expenses of one student during the taxable year.
United States · United States Congress · 23 January 1979
Intergovernmental Antirecession and Supplementary Fiscal Assistance Amendments of 1979 - Amends the Public Works Employment Act of 1976 to add to the congressional findings under such Act that both an antirecession fiscal assistance program and a supplementary fiscal assistance program which aid governments requiring fiscal relief are essential elements of a sound Federal fiscal policy. Extends the authorization of appropriations for antirecession fiscal assistance through September 30, 1980. Provides for the suspension of such assistance in certain circumstances if the unemployment rate does not exceed six percent. Requires the Secretary of Labor to calculate the unemployment rate for specified units of local governments, within or encompassing standard metropolitan statistical areas, using the population survey methodology used prior to January 1, 1978, if such rates are higher then under the current methodology. Requires the Secretary of Commerce to reallocate any undistributed excess amounts among the States and local governments. Repeals the requirement that States and local governments file statements with the Secretary containing certain reporting assurances. Authorizes the Secretary to make supplemental payments to local governments whose allocation would be reduced as a result of calculating unemployment rates by a new formula. Directs the Secretary of Labor to provide the Secretary of Commerce with necessary information and to determine unemployment rates for each State and local government. Authorizes the Secretary of Commerce to pay supplementary fiscal assistance to local governments with unemployment rates above six percent whenever the unemployment rate for the United States is five percent or more. Authorizes appropriations for such assistance through September 30, 1980. Provides for the suspension of such assistance if antirecession fiscal assistance is being paid or U.S. unemployment rates are less than five percent. Specifies the formula to be used in determining payments under this Act. Requires the Secretary of Commerce to combine certain supplementary payments with the general revenue sharing payment and make a single payment to the local governmental unit. Provides for the reallocation of any undistributed excess amounts among the local governmental units. Requires local governments receiving supplementary fiscal assistance to comply with those provisions applicable to antirecession fiscal assistance.
United States · United States Congress · 23 January 1979
Amends the Internal Revenue Code to replace the current 30 percent tax on the capital gains of certain nonresident alien individuals with a tax on the net capital gains of all nonresident alien individuals which is the same as the alternative tax on the net capital gains of individuals who are United States citizens. Imposes a 30 percent tax on the net capital gains received from sources within the United States by a foreign corporation not connected with United States business.