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Bill· HRH.R. 6171 (93rd)referred
United States · United States Congress · 27 March 1973
Allows a tax deduction under the Internal Revenue Code to an attorney or physician in an amount equal to seventy percent of the reasonable value of services rendered by such individual: (1) for which a fee is charged but cannot be collected, or (2) which are rendered without charge to fulfill a requirement of a licensing authority for the profession of which he is a member as a condition of continuing the practice of such profession.
Bill· HRH.R. 6143 (93rd)referred
United States · United States Congress · 27 March 1973
Provides an additional income tax exemption for a taxpayer supporting a dependent who is mentally retarded. Defines the term "mentally retarded" as used in this Act. (Adds 26 U.S.C. 151(f))
Bill· HRH.R. 6108 (93rd)referred
United States · United States Congress · 26 March 1973
Requires the Secretary of the Treasury to gather and compile information with respect to the financial cost of assisting taxpayers to comply with tax laws of the United States.
Resolution· HCONRESH.Con.Res. 165 (93rd)referred
United States · United States Congress · 26 March 1973
Directs the Joint Study Committee on Budget Control to report to the Congress, by bill or resolution, no later than June 1, 1973, its final recommendations with respect to any matters covered under its jurisdiction. Provides that such report shall include, but shall not be limited to : (1) procedures for improving congressional control of budgetary outlay and receipt totals, including procedures for establishing and maintaining an overall view of each year's budgetary outlays which is fully coordinated with an overall view of the anticipated revenues for that year; (2) procedures for the operation of a limitation on expenditures and net lending commencing with the fiscal year beginning July 1, 1973; and (3) procedures for limiting the authority of the President to impound or otherwise withhold funds authorized and appropriated by the Congress.
Bill· HRH.R. 6082 (93rd)referred
United States · United States Congress · 22 March 1973
Provides an itemized deduction under the Internal Revenue Code for individuals who rent their principal residences in an amount equal to 25 percent of the aggregate amount paid. (Adds 26 U.S.C. 219)
Bill· HRH.R. 6079 (93rd)referred
United States · United States Congress · 22 March 1973
Provides, under the Internal Revenue Code, a depreciation deduction with respect to any certified byproduct or waste energy conversion facility. Provides that any capital improvements made after such property is placed in service shall be treated as separate property.
Bill· HRH.R. 6027 (93rd)referred
United States · United States Congress · 22 March 1973
Allows a tax credit under the Internal Revenue Code against the Federal income tax for State and local real property taxes or an equivalent portion of rent paid on their residences by individuals who have attained the age of 65. Provides that where an indivudal has attained the age of 65, there shall be allowed as a credit the amount of real property taxes paid which were imposed by a State or political subdivision on property owned and used by him as a principal residence or rent constituting such taxes as defined by the Internal Revenue Code. Allows payment by the U.S. Treasury to taxpayers to the extent of the difference between the credit and amount of such real property taxes where the tax imposed is less than real property taxes. Provides that the total credit payment for any taxable year shall not exceed $300 (or $150 in case of a single return). Reduces the amount of the credit allowed by the amount that the taxpayer's income exceeds $6,500 (or $3250 in the case of a married person filing a separate return). Directs that the credit be applied collectively in cases of joint ownership. Provides that where the joint return of the husband or wife is filed, the age requirement is met if either person is 65 or older. Apportions the credit allowed to cover only that part of a residence actually used by the taxpayer or that part of a farm not in excess of forty acres. Provides that an individual who is a tenant-stockholder in a cooperative housing corporation shall be treated as owning the house or apartment which he occupies and such person shall be treated as having paid real property taxes equal to the deduction allowable in direct proportion to taxes actually paid on a particular residence where during the taxable year there has been a change in residence. Provides that the term 'rent constituting property taxes" means an amount equal to 25 percent of the rent paid during a taxable year by the taxpayer for the right to occupy his dwelling (exclusive of charges for utilities, services, and furnishings). Reduces the amount of real property taxes paid by an individual by the amount of any refund given on such taxes. Provides that there shall be no assessment of interest charges where there has been an underpayment of taxes by an individual if the amount due is paid within sixty days after the taxpayer receives a refund of real property taxes which caused the underpayment. Specifies that deductions for State and local real property taxes shall not be affected by the credit allowed.
Bill· HRH.R. 6076 (93rd)referred
United States · United States Congress · 22 March 1973
Allows a tax deduction under the Internal Revenue Code for transportation expenses of specified individuals employed at remote Federal installations.
Bill· HRH.R. 6068 (93rd)referred
United States · United States Congress · 22 March 1973
Authorizes grants to States and political subdivisions to assist them in modernizing the management, organization, systems and methods, and operations of their tax administrative agencies by providing training, managerial development, and research assistance. Authorizes appropriations of $1,330,000 for each of the fiscal years 1972, 1973 and 1974.
Bill· HRH.R. 5993 (93rd)referred
United States · United States Congress · 21 March 1973
Provides for the inclusion of .22 caliber rimfire ammunition in the catagories of ammunition for which persons holding a Federal license to do business as a firearms or ammunition importer, manufacturer, or dealer need not keep records on purchasers. (Amends 26 U.S.C. 4182(c))
Bill· HRH.R. 5989 (93rd)referred
United States · United States Congress · 21 March 1973
Provides, under the Internal Revenue Code, that an educational organization shall be treated as an organization organized and operated exclusively for charitable purposes if: (1) such organization is organized and operated solely to perform, on a centralized basis, one or more of the following services which, if performed on its own behalf by a tax exempt organization would constitute activities in exercising or performing the purpose or function constituting the basis for its exemption: computer service, purchasing, warehousing, billing and collection, food, industrial engineering, library, investment, research, laboratory, printing, communications, record center, instructional services, solicitation of financial support, academic personnel, and student services; and (2) such organization is not operated for profit, and amounts payable by such educational institutions for services performed for them are determined on the basis of the amount of services so performed and are intended in each case not to exceed the allocable cost of such services and are not in fact in any case significantly in excess thereof. (Amends 26 U.S.C. 501)
Bill· HRH.R. 5998 (93rd)referred
United States · United States Congress · 21 March 1973
Provides that proceeds of any policy of United States Government Life Insurance, National Service Life Insurance, or Servicemen's Group Life Insurance shall not be included in the computation of the gross value of the insured's estate for Federal estate tax or State inheritance tax purposes. (Adds 38 U.S.C. 3101(d))
Bill· HRH.R. 5994 (93rd)referred
United States · United States Congress · 21 March 1973
Provides for the inclusion of .22 caliber rimfire ammunition in the catagories of ammunition for which persons holding a Federal license to do business as a firearms or ammunition importer, manufacturer, or dealer need not keep records on purchasers. (Amends 26 U.S.C. 4182(c))
Bill· HRH.R. 5991 (93rd)referred
United States · United States Congress · 21 March 1973
Provides for the inclusion of .22 caliber rimfire ammunition in the catagories of ammunition for which persons holding a Federal license to do business as a firearms or ammunition importer, manufacturer, or dealer need not keep records on purchasers. (Amends 26 U.S.C. 4182(c))
Bill· HRH.R. 5963 (93rd)referred
United States · United States Congress · 21 March 1973
Authorizes the voluntary withholding of Maryland, Virginia, and District of Columbia income taxes in the case of legislative officers and employees under the jurisdiction of the Clerk and the Sergeant at Arms of the House of Representatives, the Architect of the Capitol, and the Librarian of Congress (limited in the last case to employees of the U.S. Botonic Garden). (Adds 5 U.S.C. 5516A)
Bill· HRH.R. 5925 (93rd)referred
United States · United States Congress · 21 March 1973
Allows a tax deduction under the Internal Revenue Code of not more than $750 for ordinary and necessary expenses paid during the taxable year for the repair or improvement of property used by the taxpayer as his principal residence. Permits any person who is the owner of rental housing and who rehabilitates or restores such housing to deduct the cost of such restoration, with respect to the amortization of the adjusted basis of such housing as so restored, based on a period of 60 months. Entitles any person who acquires rehabilitated or restored rental housing from a taxpayer who elected the amortization deduction and who did not discontinue the amortization deduction, to a deduction with respect to the adjusted basis of such facility based on the remaining amount of the 60 month period taken by the person who rehabilitated the house. Provides procedures for the election and termination of the amortization deduction and defines the terms used in this Act.
Bill· HRH.R. 5938 (93rd)referred
United States · United States Congress · 21 March 1973
Elementary or Secondary Education Tax Credit Assistance Act - Provides, under the Internal Revenue Code, a tax credit for tuition paid by an individual to any private nonprofit elementary or secondary school during the taxable year for the elementary or secondary education of any dependent with respect to whom the taxpayer is allowed an exemption for the taxable year. Provides that such credit shall not exceed the lesser of fifty percent of the tuition paid by the taxpayer during the taxable year for the elementary or secondary education of such dependent, or $500. Defines "private nonprofit elementary or secondary school" as an educational institution: (1) which is exempt from tax under the Code; (2) which regularly offers education at the elementary or secondary level; and (3) which satisfies the requirements of the compulsory education laws of the State.
Bill· HRH.R. 5939 (93rd)referred
United States · United States Congress · 21 March 1973
Allows to an individual, as a tax credit under the Internal Revenue Code, an amount, of the expenses paid by him during the taxable year to one or more institutions of higher education in providing an education above the twelth grade for himself or for any other student. Limits such credit to an amount equal to the lesser of 50 percent of such expenses paid during such period, or $1,500. Provides that in no event shall the aggregate credits allowed under this section with respect to the education of any student and outstanding at any time exceed $10,000. Requires that amounts paid by a taxpayer shall be treated as expenses paid for the higher education of a student only if the taxpayer paid at least 25 percent of such expenses during the one-year period in question.
Bill· HRH.R. 5992 (93rd)referred
United States · United States Congress · 21 March 1973
Provides for the inclusion of .22 caliber rimfire ammunition in the catagories of ammunition for which persons holding a Federal license to do business as a firearms or ammunition importer, manufacturer, or dealer need not keep records on purchasers. (Amends 26 U.S.C. 4182(c))
Bill· HRH.R. 5886 (93rd)referred
United States · United States Congress · 20 March 1973
Provides that where real property has been transferred on or after January 1, 1946, from the Reconstruction Finance Corporation to any Government department, and the title to such real property has been held by the United States continuously since such transfer, then on each date occurring on or after January 1, 1971, and prior to January 1, 1975, on which real property taxes levied by any State or local taxing authority with respect to any period become due, the Government department which has custody and control of such real property shall pay to the appropriate State and local taxing authorities an amount equal to the amount of the real property taxes which would be payable to each such State or local taxing authority on such date if legal title to such real property had been held by a private citizen on such date and during all periods to which such date relates. States that the failure of any Government department to make timely payment of any payment authorized by this Act shall not subject: (1) any Government department, or any person who is a subsequent purchaser of any real property from any Government department, to the payment of any penalty or penalty interest, or to any payment in lieu of any penalty or penalty interest; or (2) any real estate or other property or property right to any lien, attachment, foreclosure, garnishment, or other legal proceeding. Exempts specified Government held real estate from the provisions of this Act.
Bill· HRH.R. 5854 (93rd)referred
United States · United States Congress · 20 March 1973
Allows a tax credit under the Internal Revenue Code to an individual for tuition paid by him to any private nonprofit elementary or secondary school during the taxable year for the elementary or secondary education of any dependent. Provides that the amount allowable for the taxable year with respect to any dependent shall not exceed the lesser of: (1) 50 percent of the tuition paid by the taxpayer during the taxable year for the elementary or secondary education of such dependent, or (2) $400. Reduces the aggregate amount which would be allowable by an amount equal to $1 for each full $20 contained in the amount by which the adjusted gross income of the taxpayer (or, if the taxpayer is married, the adjusted gross income of the taxpayer and his spouse) for the taxable year exceeds $25,000.
Bill· HRH.R. 5867 (93rd)referred
United States · United States Congress · 20 March 1973
Prohibits the inspection of income tax records by the Department of Agriculture. Allows limited information from such records concerning farming operations to be furnished to the Department. (Adds 26 U.S.C. 36103(g))
Bill· HRH.R. 5892 (93rd)referred
United States · United States Congress · 20 March 1973
Prohibits the examination and inspection by the Department of Agriculture of income tax returns of persons having farm operations, for the purpose of obtaining data for statistical purposes about such farm operations. (Adds 26 U.S.C. 6103(g))
Bill· HRH.R. 5827 (93rd)referred
United States · United States Congress · 20 March 1973
Excludes from gross income, under the Internal Revenue Code, any amounts received as interest or accrued on any United States Government Series E Savings Bond by an individual taxpayer of 65 years or over if he has held the bond for not less than 5 years. Provides that if a Series E Savings Bond is held jointly by husband and wife, both husband and wife shall be treated as satisfying the ages and holding requirements of the Code. (Amends 56 U.S.C. 154)
Bill· SS. 1285 (93rd)referred
United States · United States Congress · 19 March 1973
Prohibits the inspection of farmers' income tax returns by the Department of Agriculture for the purpose of gathering data for statistical purposes. (Amends 26 U.S.C. 6103)
Bill· SS. 1281 (93rd)referred
United States · United States Congress · 19 March 1973
Allows a depreciation deduction under the Internal Revenue Code to a taxpayer, for the reasonable allowance for the exhaustion, wear, and tear of property used in a trade, or business, or of property held for the production of income. (Amends 26 U.S.C. 167(a))
Bill· SS. 1295 (93rd)referred
United States · United States Congress · 19 March 1973
Provides a tax credit under the Internal Revenue Code of up to 12 1/2 percent of the expenditures made in the exploration and development of new reserves of oil and gas in the United States. Sets forth the time limitations on the use of such credit.
Bill· HRH.R. 5793 (93rd)referred
United States · United States Congress · 19 March 1973
Extends to all unmarried individuals the tax treatment of income splitting now utilized by married individuals filing joint returns under the Internal Revenue Code. Directs the Secretary of the Treasury to prescribe and publish tables reflecting the amendments made by this Act which shall apply in lieu of the tables set forth in the Internal Revenue Code with respect to wages paid on or after the first day of the first month which begins more than 20 days after the date of the enactment of this Act.
Bill· HRH.R. 5794 (93rd)referred
United States · United States Congress · 19 March 1973
Extends to all unmarried individuals the tax treatment of income splitting now utilized by married individuals filing joint returns under the Internal Revenue Code. Directs the Secretary of the Treasury to prescribe and publish tables reflecting the amendments made by this Act which shall apply in lieu of the tables set forth in the Internal Revenue Code with respect to wages paid on or after the first day of the first month which begins more than 20 days after the date of the enactment of this Act.
Bill· HRH.R. 5779 (93rd)referred
United States · United States Congress · 19 March 1973
Extends the bad debt provisions of the Internal Revenue Code of 1954 to small business investment companies, and exempts such companies from the definition of personal holding companies and regulated investment companies under the same code. (Adds 26 U.S.C. 166(g) (851(f); Amends 26 U.S.C. 542(c)(8)) Establishes effective dates for such provisions.
Bill· HRH.R. 5812 (93rd)referred
United States · United States Congress · 19 March 1973
Increases over a 3-year period, under the Internal Revenue Code of 1954, the corporate surtax exemption from $25,000 to $100,000.
Bill· HRH.R. 5804 (93rd)referred
United States · United States Congress · 19 March 1973
Provides that no person, other than an attorney or certified public accountant, may prepare an income tax return for compensation without a license. States that the Secretary of the Treasury shall issue such licenses for a period of two years if the applicant has the appropriate qualifications. Permits the Secretary to seek injunctions against individuals or businesses preparing income tax returns for compensation without a license. Imposes penalties on income tax preparers for failure to sign the return, to obtain a license, or to negligently or intentionally understate the amount of tax due. Requires income tax preparers to file an informational return stating the names, addresses, and taxpayer identification numbers of all taxpayers for whom he provided services.
Bill· HRH.R. 5792 (93rd)referred
United States · United States Congress · 19 March 1973
Provides that under the Internal Revenue Code of 1954 amounts paid to related individuals shall be allowable as a deduction under the provision permitting a deduction for dependent care services necessary for gainful employment. (Amends 26 U.S.C. sec. 214 (e) (4))
Bill· SS. 1245 (93rd)referred
United States · United States Congress · 15 March 1973
Interstate Taxation Act - Title I: Jurisdiction to Tax - Provides that no State or political subdivision thereof shall have power to: (1) impose a net income tax or a capital stock tax on a corporation other than an excluded corporation unless the corporation has a business location in the State or other political subdivision during the taxable year; (2) impose a gross receipts tax with respect to a sale of tangible personal property unless the seller has a business location in the State or political subdivision; or (3) require a person to collect and remit a sales or use tax with respect to an interstate sale of tangible personal property unless the person (A) has a business location in the State or political subdivision; or (B) regularly makes household deliveries in the State or political subdivision other than by common carrier or the United States Postal Service; or (C) regularly engages in the State or political subdivision in solicitation of orders for the sale of tangible personal property by means of salesmen, solicitors, or representatives. Provides that no State or political subdivision shall have power to require a seller without a business location in the State to collect or pay a sales or use tax when such seller has obtained in writing the buyer's registration number in accordance with this Act. Provides that a State or political subdivision shall have the power to impose a corporate net income tax or capital stock tax, or a gross receipts tax with respect to a sale of tangible personal property or to require a seller to collect the sales or use tax with respect to an interstate sale of tangible personal property if it is not denied the power to do so under this Act or other Federal Statute. Title II: Maximum Income or Capital Attributable to Taxing Jurisdiction - Prohibits a State or a political subdivision thereof from imposing on a corporation with a business location in more than one State, a net income tax (or capital stock tax) measured by an amount of net income (or capital) in excess of the amount determined by multiplying the corporation's base by an apportionment fraction which is the average of the corporation's property, payroll and sales factors for the State for the taxable year, plus, in the case of a tax measured by income, the amount of income allocable to the State for the taxable year. Sets forth definitions of the three factors used in determining the corporation's apportionment fraction (1) the property factor, (2) the payroll factor and (3) the sales factor. States that upon establishing that a taxpayer is engaged in a non-arm's-length transaction which causes a material distortion of income apportioned to the State, the State may require the apportioned income of such taxpayer to be determined by reference to the combined apportionable income of all parties to the non-arm's-length transactions. Provides that a non-arm's-length transaction is a transaction between two or more affiliated corporations consumated at a consideration in an amount which is more or less than the amount that would have been charged in an independent transaction between two or more unrelated corporations under similar circumstances considering all relevant facts. Provides that a taxpayer that is a member of an affiliated group shall be permitted to determine its income to be apportioned to any State by reference to the combined apportionable income if necessary to clearly reflect the taxpayer's income properly apportionable to the State. Title III: Sales and Use Taxes - Authorizes a State or political subdivision thereof to impose a sales or use tax or require a seller to collect a sales or use tax with respect to an interstate sale of tangible personal property only if the destination of the sale is: (1) in that State, or (2) in a contiguous State for which the Tax is required to be collected under reciprocal collection agreements as authorized under this Act. Provides that the amount of any use tax imposed with respect to tangible personal property shall be reduced by the amount of any sales or use tax previously incurred and paid by a person with respect to the property on account of liability to another State or political subdivision thereof. Provides that no State or political subdivision thereof may impose a sales tax, use tax, or other nonrecurring tax measured by cost or value with respect to household goods, including motor vehicles, brought into the State by a person who establishes residence in that State if the goods were acquired and used by that person ninety days or more before use of the property in the State in which he establishes such residence. Requires a person with a business location in a State and purchasing goods in interstate commerce to obtain a registration number from that State. Provides that persons without a business location in the State may rely upon such registration, as evidenced by receiving the registration number from the buyer, in writing as conclusive authority for not charging and collecting a sales or use tax. Title IV: Jurisdiction of Federal Courts - Provides that the United States Court of Claims shall have jurisdiction to review de novo any issues relating to a dispute arising under this Act or under Public Law 86-272, as amended. Authorizes the Court of Claims to issue all necessary orders and process to bring before it the claims of all States to a share of a corporation's net income for the taxable year or years in issue, whether or not such States have previously been parties. Provides that the judgment of the Court of Claims shall be subject to review by the Supreme Court of the United States. Title V: Definitions and Miscellaneous Provisions - Sets forth definitions of terms used in this Act. Provides that the fact that a tax to which this Act applies is imposed by a State of political subdivision thereof in the form of a franchise, privilege, or license tax shall not prevent the imposition of the tax on a person engaged exclusively in interstate commerce within the State. Provides that such a tax may be enforced against a person engaged exclusively in interstate commerce within the State solely as a revenue measure and not by ouster from the State or by criminal or other penalty for engaging in commerce within the State without permission from the State. Provides that no provision of State law shall make any person liable for a greater amount of sales or use tax with respect to tangible personal property, or gross receipts tax with respect to tangible personal property, by virtue of the location of any occurrence in a State outside the taxing State, other than the amount of the tax for which such person would otherwise be liable if such occurrence were within the State.
Bill· SS. 1255 (93rd)referred
United States · United States Congress · 15 March 1973
Property Tax Relief and Reform Act - Title I: Findings and Purpose - Enumerates the findings of Congress and declares the general purposes of this Act to be to: (1) provide for a program of assistance to State governments in reforming their real property tax laws, and (2) provide relief from real property taxes for low-income individuals. Title II: The Office of Property Tax Relief and Reform - Establishes, within the Department of the Treasury, the Office of Property Tax Relief and Reform to administer the real property tax relief and reform programs established under this Act. Provides that the office be headed by a Director, to be appointed by the President. Sets forth the functions of the Office, including: (1) administering property tax relief and reform programs; developing compatible fiscal and administrative systems of property taxation among Federal, State and local governments; (2) acting as a clearinghouse of information for State and local governments with respect to the Federal programs affecting the administration of property taxes; (3) providing technical and training assistance to States; (4) providing financial assistance for special experimental programs in the administration of property tax laws; (5) evaluating all Federal efforts in the areas of property tax relief and reform; and (6) reviewing Federal laws applicable to, or having an effect on property taxes. Title III: Real Property Tax Relief for Low-Income Individuals - Authorizes the Office to make grants to States which operate a qualified program of real property tax relief. Requires a State program, to qualify for such aid, to provide relief to both homeowners and renters of residential property (including apartments) which meets minimum standards specified in this Act. Empowers the Director to reduce the amount of the payments to a State unless the State has substantially implemented the reforms and complied with the guidelines of title IV and V of this Act. Title IV: Reform of Property Tax Administration; Disclosure, Access, and Appeal - Requires a State to publish the assessment-sales ratio of specified classifications of residential, commercial, industrial and vacant property for each taxing jurisdiction within the State. Stipulates that a State program must provide a real property assessment appeal procedure for taxpayers. Requires a State to provide public access to real property tax data, including a separate listing of all tax-exempt real property assessments. Authorizes loans to States for the purposes of fulfilling the requirements of this Title. Title V: Reform of Property Tax Administration; Uniform Assessment Practice - Requires that a State program shall provide for: (1) the certification of professionally qualified officials for assessing and appraising property; (2) training such officials; (3) the sharing of the cost of assessment personnel by taxing jurisdictions which lack the resources to maintain such personnel separately; (4) the compiling of maps to disclose the location of property and improvements and identification of ownership of such property; (5) the determination of (a) the degree to which State taxes on residential personal property, commercial inventories, farm personal property, personal holdings of bank deposits, and securities and other financial assets are uniformly enforced and (b) the cost of administering such taxes. Authorizes the Office to make loans to qualifying State programs for the purposes of carrying out this Title. Title VI: Federal Assistance to Training and Technical Programs - Provides that the Office shall grant assistance to States for the training of real property tax assessment and appraisal personnel. Authorizes the Office to develop, jointly with States, and provide grants for, special experimental programs to improve the administration of property tax laws. Title VII: Miscellaneous: Conditions of Grants and Loans - Provides that the Director shall establish standards for the qualification of firms engaged in providing property appraisal services to State and local governments, and shall certify any such firm which meets those standards. Authorizes appropriations to the Office such sums as may be necessary for the purposes of carrying out the provisions of this Act (other than title III and other than the grant and loan programs authorized by title IV and V) for the fiscal year 1974, and for each of the succeeding nine fiscal years.
Bill· HRH.R. 5729 (93rd)referred
United States · United States Congress · 15 March 1973
Requires private foundations to diversify their holdings for income tax purposes by providing that for each day on which a private foundation fails to dispose of any non-diversified holding such foundation shall be treated as making an investment, in an amount equal to the amount of such holding, in such a manner as to jeopardize the carrying out of its charitable purposes. (Amends 26 U.S.C. 4944)
Bill· HRH.R. 5691 (93rd)referred
United States · United States Congress · 15 March 1973
Extends, under the Public Health Service Act, for one fiscal year, the program of assistance for regional medical programs. (Amends 42 U.S.C. 299a(a))
Bill· HRH.R. 5728 (93rd)referred
United States · United States Congress · 15 March 1973
Establishes the Trust Fund for the Supervision of Private Foundations. Makes the Secretary of the Treasury the trustee of the Fund. Authorizes to be appropriated to the Fund 100 percent of the excise taxes based on the investment income of private foundations. Authorizes the Secretary to make payments of up to $250,000 per year to qualifying States Governments for the purposes of auditing private foundations. States that one-half of Trust Fund amounts may be used by the Internal Revenue Service to supervise compliance of private foundations with the Interanl Revenue Code. Makes provisions for the return to private foundations of any amounts not needed for supervision.
Bill· HRH.R. 5712 (93rd)referred
United States · United States Congress · 15 March 1973
Permits the tax deduction under the Internal Revenue Code of household and dependent care expenses by a married couple when one spouse is a full-time student to the same extent that such expenses could be deducted if both spouses were employed. (Adds 26 U.S.C. 214(e)(2)(C))
Bill· SS. 1230 (93rd)referred
United States · United States Congress · 14 March 1973
Authorizes the following fiscal year 1974 appropriations for maritime programs of the Department of Commerce: (1) $275,000,000 for acquisition, construction, or reconstruction of vessels; (2) $221,515,000 for payment of obligations incurred for ship operation subsidies; (3) $20,000,000 for research and development; (4) $3,773,000 for reserve fleet expenses; (5) $8,600,000 for maritime training at the Merchant Marine Academy; and (6) $2,427,000 for financial assistance to state marine schools. Authorizes additional supplemental amounts for employee benefits such as increases in salary and retirement pay.
Bill· SS. 1228 (93rd)referred
United States · United States Congress · 14 March 1973
Authorizes appropriations of $40,000,000 for the fiscal year 1974 for the Corporation for Public Broadcasting.
Bill· SS. 1209 (93rd)referred
United States · United States Congress · 14 March 1973
Permits a tax deduction under the Internal Revenue Code of household and dependent care expenses by a married couple when one spouse is a full-time student to the same extent that such expenses could be deducted if both spouses were employed. (Amends 26 U.S.C. 214 (e) (2))
Bill· SS. 1231 (93rd)referred
United States · United States Congress · 14 March 1973
Provides that advertising of cigarettes and alcoholic beverages is not a deductible expense under the Internal Revenue Code. (Adds 26 U.S.C. 162(h))
Bill· SS. 1215 (93rd)referred
United States · United States Congress · 14 March 1973
Federal Fiscal and Budgetary Information Act - Requires the Secretary of the Treasury and the Director of the Office of Management and Budget, in cooperation with the Comptroller General of the United States, to develop, establish, and maintain, for use by all Federal agencies, standardized data and information systems for fiscal, budgetary, and program-related data and information. States that the Comptroller General of the United States, in cooperation with the Secretary of the Treasury and the Director of the Office of Management and Budget, shall develop, establish, maintain, and publish standard terminology, definitions, classifications, and codes, for Federal fiscal, budgetary, and program-related data and information. Directs the Comptroller General of the United States to submit to both Houses of the Congress, on or before January 1, 1974, a report containing his recommendations for the initial standard terms, definitions, and classifications, as described in this Act, and shall recommend legislation to implement them. States that upon request of any committee of either House, of any joint committee of the two Houses, or of the Comptroller General of the United States, the Secretary of the Treasury, the Director of the Office of Management and Budget, or the heads of the various executive agencies shall: (1) furnish to the congressional committee, the joint committee, or the Comptroller General, information as to the location and nature of available fiscal, budgetary, and program-related data and information; (2) prepare summary tables of such data and information and any related information deemed necessary by the requesting committee, joint committee, or the Comptroller General; and (3) furnish any program evaluations conducted or commissioned by any executive agency as deemed necessary by the requesting committee, joint committee, or the Comptroller General. Directs the Comptroller General of the United States, to the extent he deems necessary, to develop, establish, and maintain a central file or files of the data and information required to carry out the purposes of this Act.
Bill· SS. 1207 (93rd)referred
United States · United States Congress · 14 March 1973
Provides that a corporation will not be taxed on the distribution of property to a shareholder in a redemption of all his stock in such corporation if such shareholder owns at least 10 percent of the outstanding stock of the corporation directly or constructively, as defined by the Internal Revenue Code of 1954. (Amends 26 U.S.C. 311 (d) (2) (A)).
Bill· SS. 1199 (93rd)referred
United States · United States Congress · 14 March 1973
Permits a married couple to deduct under the Internal Revenue Code household and depandent care expenses when one spouse is a full-time student to the same extent that a deduction would be allowable were both spouses employed. (Amends 26 U.S.C. 214 (e))
Bill· HRH.R. 5574 (93rd)referred
United States · United States Congress · 14 March 1973
Extends to all unmarried individuals the same tax treatment of income splitting now utilized by married individuals filing joint returns under the Internal Revenue Code. Directs the Secretary of the Treasury to prescribe and publish tables reflecting the amendments made by this Act which shall apply in lieu of the tables set forth in the Internal Revenue Code with respect to wages paid on or after the first day of the first month which begins more than 20 days after the date of the enactment of this Act.
Bill· HRH.R. 5616 (93rd)referred
United States · United States Congress · 14 March 1973
Authorizes domestic corporations to elect to take the special tax deduction benefits applicable to income from sources within the United States. Provides that such election shall be made at such time and in such manner as the Secretary of the Treasury may by regulation prescribe, and shall remain in effect until the ninth taxable year following the year such election was made. (Amends 26 U.S.C. 931)
Bill· HRH.R. 5561 (93rd)referred
United States · United States Congress · 13 March 1973
Income-Splitting Tax Act - Extends to all unmarried individuals the full tax benefits of income splitting now enjoyed by married individuals filing joint returns. Provides that, except in the case of a married individual filing a separate return, a nonresident alien individual, or an estate or trust, the tax imposed by section of the Internal Revenue Code upon the taxable income of any individual shall be twice the tax which would be imposed if the taxable income were cut in half. Provides that the determination of whether an individual is married shall be made as of the close of his taxable year, and an individual legally separated from his spouse under a decree of divorce or separate maintenance shall not be considered as married. (Amends 26 U.S.C. 2) Provides for a tax surcharge limitation. Provides that the Secretary of the Treasury or his delegate shall prescribe and publish tables reflecting such amendments which shall apply, in lieu of the tables set forth in the Internal Revenue Code (relating to percentage method of withholding) (26 U.S.C. 3402(a)), with respect to wages paid on or after the first day of the first month which begins more than 20 days after the date of the enactment of this Act.
Bill· HRH.R. 5502 (93rd)referred
United States · United States Congress · 13 March 1973
Provides, under the Internal Revenue Code, that gross income does not include any amounts received by an individual in the taxable year as a pension, annuity, or other benefit under a public retirement system, or any amounts received by an individual who is age 65 or over as a pension, annuity, or other retirement benefit under any other retirement plan, program, or system, to the extent that the aggregate of such amounts does not exceed $5,000.