A bill relating to the effective date of the provision in the Economic Recovery Tax Act of 1981 which permits elections under section 2032A of the Internal Revenue Code of 1954 to be made on late estate tax returns.

Summary

Amends the Economic Recovery Tax Act of 1981 to retroactively apply provisions permitting an election for the special valuation of farms and small businesses based on use to be made on the decedent's tax return even if filed late. Permits the credit or refund of any overpayment of tax resulting from the exercise of an election on a late return which would otherwise be barred by law, if the claim for such credit or refund is made within six months after the enactment of this Act.

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Timeline

1. 9 June 1983

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 9 June 1983

   Introduced

   Introduced in House

   Source: IntroReferral

3. 9 June 1983

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 9 June 1983

  Open at official source

Sponsors

• Rep. Fields, Jack [R-TX-8] · R · Sponsor
• · hswm00 · Standing

Related records

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