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United States · Bill · HR

H.R. 12785 (95th)

Individual Tax Relief Act

referredUnited States· United States Congress· EN

Introduced

18 May 1978

Last action

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Status

Referred to House Committee on Ways and Means.

Sponsors

—

Subjects

Discovery layer

Source updated

2 September 2025

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Summary

Individual Tax Relief Act - Amends the Internal Revenue Code to remove the $35,000 sales price limitation on the exclusion of residential sales gains by the elderly. Provides for the payment of interest on excess taxes withheld from individual's wages. Excludes the first $100 in interest from withdrawable savings accounts and debt securities. Provides for annual cost-of-living adjustments for personal exemptions and the individual tax rates. Allows an individual income tax credit of up to $100 for expenses paid for the education of the taxpayer, his spouse or any dependents.

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Documents

1 official file

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