A bill to amend the Internal Revenue Code of 1954 to permit an exemption, in an amount not exceeding the maximum social security benefit payable in the taxable year involved, for retirement income received by a taxpayer under any other system if the taxpayer is at least 65 years of age.

Summary

Allows an income tax exclusion under the Internal Revenue Code, in an amount not exceeding the maximum social security benefit payable in the taxable year involved, for retirement income received by a taxpayer under a public retirement system or under any other system if the taxpayer is at least 65 years of age. (Amends 26 U.S.C. 124)

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Documents

1 official file

• Introduced in House

  summary · EN · 16 April 1973

  Open at official source

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