A bill to amend section 6049(b) (2) of the Internal Revenue Code of 1954 in order to exempt from interest for purposes of information returns amounts forfeited to banks and loan associations as penalties for premature withdrawal of funds from time savings accounts or deposits.

referredUnited States· United States Congress· EN

Introduced

27 February 1974

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Exempts from interest for purposes of information returns under the Internal Revenue Code amounts forfeited to banks and savings and loan associations as penalties for premature withdrawal of funds from time savings accounts or deposits. (Amends 26 U.S.C. 6049 (b) (2))

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Documents

1 official file

Introduced in House
summary · EN · 27 February 1974
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/93rd-congress/house-bill/13099
Open data entity: https://api.congress.gov/v3/bill/93/hr/13099