A bill to repeal the withholding on interest, dividends and patronage dividends enacted by the Tax Equity and Fiscal Responsibility Act of 1982 and to require, in lieu of such withholding, the Secretary of the Treasury to use existing information returns to ensure that the proper amount of tax is collected with respect to interest, dividends, and patronage dividends.

Summary

Amends the Tax Equity and Fiscal Responsibility Act of 1982 to repeal provisions which require the withholding of tax on interest and dividends. Directs the Secretary of the Treasury to match information returns with tax returns to ensure that tax is collected on interest and dividend income.

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1 official file

• Introduced in House

  summary · EN · 2 February 1983

  Open at official source

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