Retirement Incentive Savings Act of 1981

Summary

Retirement Incentive Savings Act of 1981 - Amends the Internal Revenue Code to allow taxpayers to contribute $2,000 in addition to the amount allowable as an income tax deduction to an individual retirement account (IRA) without incurring liability for the tax on excess contributions. Increases to $2,000 the maximum amount of the income tax deduction for contributions to an IRA. Allows a $1,000 deduction for contributions by participants in tax-qualified employer pension plans.

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1 official file

• Introduced in House

  summary · EN · 17 March 1981

  Open at official source

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