A bill to amend the Internal Revenue Code of 1954 to increase the amount of dividends and interest which may be excluded from gross income, and to make such exclusion permanent.

Summary

Amends the Internal Revenue Code to increase the amount of dividends and interest which may be excluded from gross income to $2,500 beginning in 1984 ($5,000 in the case of taxpayers filing a joint return). Phases in the amount of such exclusion by $500 increments in 1982 ($1,500) and 1983 ($2,000). Makes such exclusion permanent.

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Documents

1 official file

• Introduced in House

  summary · EN · 22 July 1981

  Open at official source

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