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Taxation

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251 records in US in 1977

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Bill· HRH.R. 9002 (95th)referred

Retirement Savings Equal Treatment Act

United States · United States Congress · 8 September 1977

Retirement Savings Equal Treatment Act - Amends the Internal Revenue Code to allow certain individuals whose employers make contributions to pension plans a deduction for their contributions to employer pension funds, and to allow a deduction to certain individuals who establish modified individual retirement plans when the employer-employee pension contributions are small.

Bill· HRH.R. 8938 (95th)referred

A bill to amend the Employee Retirement Income Security Act of 1974 to provide additional time to study salary reduction and cash and deferred option profit-sharing plans.

United States · United States Congress · 7 September 1977

Amends the Employee Retirement Income Security Act to delay the date after which Treasury regulations regarding includibility in gross income of contributions made by means of salary reduction to certain pension or profit-sharing trusts may be issued and enforced.

Bill· HRH.R. 8934 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that certain income from a nonmember telephone company is not taken into account in determining whether any mutual or cooperative telephone company is exempt from income tax.

United States · United States Congress · 7 September 1977

Amends the Internal Revenue Code to provide that income received from nonmember telephone companies shall not be used in determining whether mutual and cooperative telephone companies qualify as tax exempt organizations.

Bill· HRH.R. 8940 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for amounts paid by speech-impaired or hearing-impaired individuals for use of toll telephone service by means of teletypewriters.

United States · United States Congress · 7 September 1977

Amends the Internal Revenue Code to allow a tax credit for an amount, not to exceed $250, equal to 50 percent of the expenses paid or incurred by a speech- or hearing-impaired individual for the use of toll telephone services by means of teletypewriters.

Bill· SS. 2050 (95th)referred

Individual Housing Account Act

United States · United States Congress · 5 August 1977

Individual Housing Account Act - Amends the Internal Revenue Code to allow an individual who does not own and has never owned a principal residence an income tax credit for 20 percent of the amounts paid in cash to an individual housing account, up to a maximum credit of $500 annually and $2,000 in a lifetime. Makes such accounts tax exempt.

Bill· SS. 2021 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a credit against tax to an individual who constructs, purchases, or rehabilitates a principal residence in a revitalization area and to a lending institution which provides financing for such an individual.

United States · United States Congress · 5 August 1977

Title I: Tax Credits - Tax Incentives for Neighborhood Revitalization Act - Amends the Internal Revenue Code to allow a limited income tax credit to individuals for the purchase, construction, or rehabilitation of a principal residence located in an area designated by the Secretary, in consultation with the Secretary of Housing and Urban Development, as a neighborhood revitalization area. Allows a limited credit to lending institutions which finance such purchase, construction, or rehabilitation. Allows individuals a credit for that portion of their State and local property taxes attributable to improvements directly related to rehabilitation expenditures for which the taxpayer is allowed a credit under this title. Title II: Neighborhood Revitalization Designation and Plans - Neighborhood Revitalization Act - Directs units of local government which wish to have the provisions of Title I of this Act apply to an area within their boundaries to designate the area a "neighborhood revitalization area." Requires such a designation to be approved by the Secretary of the Treasury if certain requirements are met and a finding is made that the area is declining.

Bill· SS. 2039 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a variable rate investment credit with respect to a newly constructed section 1250 property and to allow such credit to individuals in connection with their investment in newly constructed principal residences.

United States · United States Congress · 5 August 1977

Amends the Internal Revenue Code to allow an investment tax credit for investments in depreciable real property and in the case of individuals, in a new principal residence. Makes the amount of such credit dependent on the unemployment rate.

Bill· SS. 2028 (95th)referred

Electric Utility Tax Reform Act

United States · United States Congress · 5 August 1977

Electric Utility Tax Reform Act - Amends the Internal Revenue Code to exclude from the gross income of a regulated public utility any amount, including any gain from the sale or transfer of certain property, derived by such utility from a regulated electric trade or business. Imposes on any purchaser of electrical energy from a public utility a tax in an amount equal to 0.04 of a cent per kilowatt hour so purchased.

Bill· HRH.R. 8897 (95th)referred

Electric Utility Tax Reform Act

United States · United States Congress · 5 August 1977

Electric Utility Tax Reform Act - Amends the Internal Revenue Code to exclude from the gross income of a regulated public utility any amount, including any gain from the sale or transfer of certain property, derived by such utility from a regulated electric trade or business. Imposes on any purchaser of electricity from a public utility a tax in an amount equal to 0.04 of a cent per kilowatt hour so purchased.

Bill· HRH.R. 8898 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow persons covered by certain other retirement plans to establish personal savings for retirement.

United States · United States Congress · 5 August 1977

Amends the Internal Revenue Code to allow a limited deduction for amounts paid by or on behalf of an individual for an individual retirement account, an individual retirement annuity, an individual retirement bond, an employees' trust, or an annuity contract.

Bill· HRH.R. 8861 (95th)referred

Tax Reduction Act

United States · United States Congress · 5 August 1977

Tax Reduction Act - Amends the Internal Revenue Code to lower individual and corporate income tax rates.

Bill· HRH.R. 8857 (95th)referred

A bill to amend section 337 of the Internal Revenue Code of 1954 with respect to the recognition of gain or loss on sales or exchanges in connection with certain liquidations.

United States · United States Congress · 5 August 1977

Amends the Internal Revenue Code to exclude certain long term post production gains from those recognized when collapsible corporations are liquidated. Expands the class of gains recognized for liquidated corporations with net losses for the two year period preceeding liquidation.

Bill· HRH.R. 8892 (95th)referred

A bill to make technical improvements in the tax laws.

United States · United States Congress · 5 August 1977

Amends the Internal Revenue Code with respect to the authority of the Secretary of the Treasury to impose additional tax liabilities on corporations and citizens of foreign nations which impose discriminatory taxes on United States citizens and corporations to extend such authority to discriminatory taxes imposed on subsidiaries and corporations owned by United States citizens.

Bill· HRH.R. 8888 (95th)referred

A bill to encourage farmers to establish shelterbelts for the purposes of reducing soil erosion, protecting crops and livestock, and establishing wildlife habitat areas.

United States · United States Congress · 5 August 1977

Amends the Internal Revenue Code to provide an income tax credit for expenses incurred in the conversion of farm and ranch land into qualified wind erosion control or wildlife habitat areas. Provides Federal local reimbursement to state and local governments for the real property taxes which would otherwise be collected on such property.

Bill· HRH.R. 8872 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to disregard, in the valuation for estate tax purposes of certain items created by the decedent during his life, any amount which would not have been capital gain if such item has been sold by the decedent as its fair market value.

United States · United States Congress · 5 August 1977

Amends the Internal Revenue Code to provide that artistic compositions, copyrights, and the like shall not be included in the estate tax valuation of the creator's estate.

Bill· HRH.R. 8883 (95th)referred

A bill to establish a task force to study and evaluate the taxation of real property by State and local governments the feasibility of Federal taxation and other policies designed to reduce the dependence of such governments on taxation of real property, and the effects of such Federal taxation and other policies so designed on the financing of elementary and secondary public education by such governments.

United States · United States Congress · 5 August 1977

Establishes the Task Force on School Financing and the Taxation of Real Property by State and Local Governments to study and evaluate the taxation of real property, the feasibility of methods designed to reduce the dependence of State and local governments on such taxation, and the effects of Federal taxation and other policies on the financing of public elementary and secondary education.

Bill· HRH.R. 8860 (95th)referred

Tax Reduction Act

United States · United States Congress · 5 August 1977

Tax Reduction Act - Amends the Internal Revenue Code to lower individual and corporate income tax rates.

Bill· HRH.R. 8844 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for the cost of removal of the trees required by the United States or a State or local government to be removed to prevent the spread of diseases caused by pests.

United States · United States Congress · 5 August 1977

Amends the Internal Revenue Code to allow individuals an income tax deduction for expenses incurred for government-required tree removal designed to prevent the spread of pest diseases.

Bill· HRH.R. 8847 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for the purchase and installation of certain teletypewriters for use by individuals whose sight, hearing, or speech is impaired.

United States · United States Congress · 5 August 1977

Amends the Internal Revenue Code to allow up to a $200 income tax deduction for one half of the expenses incurred for the installation and purchase of a teletypewriter for use by individuals whose sight, hearing, or speech is impaired.

Resolution· HCONRESH.Con.Res. 341 (95th)passed

A concurrent resolution revising the congressional budget for the U.S. Government for the fiscal year l978.

United States · United States Congress · 5 August 1977

Sets forth the congressional budget for the United States Government for the fiscal year 1978. States that the recommended level of Federal revenues is $399,900,000,000 and the amount by which the aggregate level of Federal revenues should be decreased is $891,000,000. States that the appropriate level of total new budget authority is $509,806,000,000. Establishes the appropriate level of the public debt at $778,900,000,000. Sets forth the appropriate level of new budget authority and the estimated budget outlays for each major functional category.

Bill· SS. 2004 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to permit an individual who is an active participant in a retirement plan to claim the deduction for retirement savings for amounts contributed by him to an individual retirement account, for an individual retirement annuity, or for a retirement bond, to the extent that the amounts paid by him or on his behalf under the retirement plan does not equal the maximum amount of the retirement savings deduction to which he would be entitled if he were not an active participant in such plan.

United States · United States Congress · 4 August 1977

Amends the Internal Revenue Code to allow individuals who are participants in a retirement plan an income tax deduction for contributions to an individual retirement account. Limits such deduction to the amount allowed individuals who are participants in a plan, reduced by the amounts contributed by or on behalf of the individual to the plan in which he is a participant.

Resolution· SRESS.Res. 242 (95th)referred

A resolution relating to policy changes by the Internal Revenue Service.

United States · United States Congress · 4 August 1977

Expresses the displeasure of the Senate toward any policy of the Internal Revenue Service which changes through administrative interpretation long-standing applications of the internal revenue laws. Expresses the sense of the Senate that the Internal Revenue Service refrain from changing its policy with respect to taxation of benefits given to employees, without submission of any proposed changes to Congress.

Resolution· SCONRESS.Con.Res. 43 (95th)open

A concurrent resolution revising the Congressional Budget for the U.S. Government for the fiscal year 1978.

United States · United States Congress · 4 August 1977

Sets forth the congressional budget for the United States Government for the fiscal year 1978. States that the recommended level of Federal revenues is $395,000,000,000 and the amount by which the aggregate level of Federal revenues should be decreased is $600,000,000. States that the appropriate level of total new budget authority is $501,200,000,000. Establishes the appropriate level of the Public debt at $778,200,000,000. Sets forth the appropriate level of new budget authority and the estimated budget outlays for each major functional category.

Bill· HRH.R. 8796 (95th)referred

A bill to provide an opportunity to individuals to make financial contributions, in connection with the payment of their Federal income tax, for the advancement of the arts and humanities.

United States · United States Congress · 4 August 1977

Amends the Internal Revenue Code to authorize any taxpayer to elect to have any portion of any overpayment of tax or any contribution in money which the taxpayer forwards with the return for such taxable year be available, as the taxpayer may designate on such return, for the National Endowment for the Arts or the National Endowment for the Humanities.

Bill· SS. 1997 (95th)referred

Adoption Opportunities Act

United States · United States Congress · 3 August 1977

Adoption Opportunity Act - Amends the Internal Revenue Code to allow a deduction for the amount of any adoption expenses, not to exceed $1,000 per child adopted by the taxpayer during the taxable year.

Bill· SS. 1989 (95th)referred

Tax Reform Act

United States · United States Congress · 3 August 1977

Tax Reform Act - Title I: Income Tax Amendments - Repeals Internal Revenue Code tax preference provisions pertaining to work incentive programs, alternative tax, minimum tax, dividend exclusion for individuals, depreciation of low-income rental housing, class lives, amortization of pollution control facilities, research, development, and experimental expenditures, amortization of railway rolling stock and job training and child care facilities, and coal, timber and domestic iron ore, expenditures, trusts and estates, earned income, DISCS, ESOPS, small business stock, and the 50 percent tax limitation on personal service income. Directs the Secretary of the Treasury to report to Congress concerning tax credit provisions which are not contained within the Internal Revenue Code. Increases the maximum surtax exemption, but reduces it, along a graduated scale, for larger corporations. Limits the investment tax credit to taxpayers with net assets below $2, million. Limits intangible drilling expense deductions to exploratory wells. Limits certain business deductions for taxpayers with a certain amount of specified tax preferences. Provides for a direct Federal subsidy, in lieu of a tax exclusion, for interest on certain governmental obligations. Limits the deductions for mortgage interest and individual investment interest. Limits the accounting methods used for depreciation deductions for transferred realty and expands the class of property covered by the special rules for such deductions. Limits the special deductions attributable to farming. Disqualifies from treatment as a corporate reorganization, any transaction in which the shareholders of any corporation end up with less than 25 percent of the total resulting voting power. Repeals the special treatment of bad debt reserves by banks and savings and loan institutions. Limits the aggregate allowance for depletion for any property to the adjusted basis of the property as determined without regard to depletion deductions. Repeals the "fresh start" adjustment for carryover property passing at death which receives a carryover basis. Provides for the inclusion in gross income of the taxpayer's pro rata share of profits made by certain controlled foreign corporations, with special rules for adjustments to basis, the elimination of double taxation, accounting and record requirements, and coordination with other tax provisions. Title II: Tax Relief Amendments - Reduces the individual marginal income tax rates by one percent. Allows individuals a $250 income tax credit in lieu of each personal exemption.

Bill· HRH.R. 8737 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for property improvements designed to prevent shoreline erosion caused by high water levels in the Great Lakes.

United States · United States Congress · 3 August 1977

Amends the Internal Revenue Code to allow taxpayers a limited income tax deduction for qualified property improvements, as defined by the Army Corps of Engineers, designed to prevent shoreline erosion caused by high water levels in the Great Lakes.

Bill· HRH.R. 8733 (95th)referred

A bill to amend the Internal Revenue Code of 1954 with respect to the treatment of amounts paid to relatives for purposes of the credit for expenses for household and dependent care services necessary for gainful employment.

United States · United States Congress · 3 August 1977

Amends the Internal Revenue Code to remove the requirement that household and dependent care services rendered by relatives qualify as employment for purposes of the Federal Insurance Contributions Act in order for their wages to be considered expenses for purposes of the income tax credit for expenses paid for such services.

Bill· HRH.R. 8746 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow the disclosure of the mailing address of a taxpayer for use in collecting certain unpaid student loans.

United States · United States Congress · 3 August 1977

Amends the Internal Revenue Code to allow the Secretary of the Treasury, upon request of the Commissioner of Education, to disclose the address of any individual taxpayer who has defaulted on certain student loans. Allows the Commissioner to disclose the addresses to the appropriate educational institutions.

Bill· HRH.R. 8735 (95th)referred

A bill to provide that local governments may receive reimbursement from the United States for protection provided by such governments to visiting Federal and foreign governmental officials.

United States · United States Congress · 3 August 1977

Provides for the reimbursement of 80 percent of the costs incurred by any unit of local government for the protection of any official of the United States or of any foreign country. Requires such local governmental unit to make application for such reimbursement to the Attorney General for certification to the Secretary of the Treasury.

Bill· SS. 1981 (95th)referred

A bill to provide for automatic adjustment of deduction to individual retirement accounts, et cetera.

United States · United States Congress · 2 August 1977

Amends the Internal Revenue Code to provide, in the case of retirement savings accounts, for an automatic annual adjustment of the $1,500 maximum deduction for individuals ($1,750 for certain married individuals) to the nearest multiple of $50 for increases in the cost- of-living in accordance with regulations prescribed by the Secretary of the Treasury.

Bill· SS. 1987 (95th)referred

Employee Business Ownership and Capital Formation Act

United States · United States Congress · 2 August 1977

Employee Business Ownership and Capital Formation Act - Amends the Internal Revenue Code to provide a deduction to an employer, as a contribution to a stock bonus or profit-sharing plan, for the amount of any securities distributed to an employee pursuant to an employee business ownership plan. Declares that no income shall result to an employee at the time of distribution of employer securities to him pursuant to such a plan, or at any other time prior to his disposition of a security so distributed.

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