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United States · Bill · HR

H.R. 1724 (97th)

A bill to amend the Internal Revenue Code of 1954 to provide for the partial exclusion of interest from gross income.

openUnited States· United States Congress· EN

Introduced

5 February 1981

Last action

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Status

See H.R.4242.

Sponsors

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Subjects

Discovery layer

Source updated

7 February 2024

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Summary

Amends the Internal Revenue Code to exclude from gross income interest earned on certain savings deposits. Permits such exclusion only to the extent that the interest income received by the taxpayer exceeds the amount of such income received in the previous year, up to $500. Sets the limit for such exclusion for individuals age 65 or over at $500.

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Documents

1 official file

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