A bill to amend the Internal Revenue Code of 1954, to provide that penalties incurred on account of premature withdrawal of funds from time savings accounts be allowed as a deduction from gross income in computing adjusted gross income.

Summary

Provides, under the Internal Revenue Code of 1954 that penalties incurred on account of premature withdrawal of funds from time savings accounts shall be allowed as a deduction from gross income in computing adjusted gross income.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 22 July 1974

   Introduced

   Introduced in House

   Source: IntroReferral

2. 22 July 1974

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

3. 22 July 1974

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 22 July 1974

  Open at official source

Sponsors

• Rep. Schneebeli, Herman T. [R-PA-17] · R · Sponsor
• · hswm00 · Standing

Related records

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