To amend the Internal Revenue Code of 1986 to update the optional methods for computing net earnings from self-employment.

Summary

Amends the Internal Revenue Code and title II (Old Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to revise the optional method of computing the net earnings of self-employed individuals for purposes of determining social security benefit eligibility. Replaces the numerical formula for determining benefit eligibility with an indexed calculation based on a lower limit (the amount required under the Social Security Act for a quarter of coverage) and an upper limit (150 percent of the lower limit).

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 15 November 2007

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• Introduced in House (PDF)

  Introduced in House · EN · 15 November 2007

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• Introduced in House

  summary · EN · 15 November 2007

  Open at official source

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