Small Savers and Small Investors Income Tax Amendments of 1981

Summary

Small Savers and Small Investors Income Tax Amendments of 1981 - Amends the Internal Revenue Code to increase the aggregate income tax exclusion for interest and dividend income from $200 to $1,000 ($2,000 for joint returns). Increases the amount of such exclusion for elderly taxpayers (age 65 or older) to $3000. Makes such tax exclusion permanent. Permits taxpayers to elect a refundable income tax credit for $600 in lieu of the tax exclusion for interest and dividend income.

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1 official file

• Introduced in House

  summary · EN · 4 May 1981

  Open at official source

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