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 income tax exclusion for interest to $1,000 ($2,000 for joint returns). Increases the amount of such exclusion for elderly taxpayers (age 65 or older) to $3,000. Establishes the amount of the tax exclusion for dividends at $200 ($400 for joint returns). Makes such tax exclusion permanent. Permits taxpayers to elect a refundable income tax credit for $600 in lieu of the tax exclusion for interest provided by this Act.

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1 official file

• Introduced in House

  summary · EN · 9 June 1981

  Open at official source

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