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United States · Bill · HR

H.R. 785 (96th)

A bill to amend the Internal Revenue Code of 1954 to partially exclude interest from savings from the gross income of certain taxpayers.

referredUnited States· United States Congress· EN

Introduced

15 January 1979

Last action

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Status

Referred to House Committee on Ways and Means.

Sponsors

—

Subjects

Discovery layer

Source updated

7 February 2024

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Summary

Amends the Internal Revenue Code to exclude from gross income up to $1,000 ($1,500 for joint returns, $750 for married individuals filing separately) of the interest earned from savings accounts. Reduces the amount of such exclusion, dollar for dollar, by the amount the taxpayer's adjusted gross income exceeds $10,000 ($15,000 for joint returns, $7,500 for married individuals filing separately).

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Documents

1 official file

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