A bill to provide that the Internal Revenue Service may not before July 1, 1987, enforce its regulations relating to the tax treatment of the personal use of vehicles, and for other purposes.

Summary

Provides that the Internal Revenue Service, during the moratorium period beginning January 1, 1986, and ending June 30, 1987, may not enforce its regulations relating to the substantiation requirements with respect to deductions for the business use of vehicles. Directs that the determination of any amount includible in gross income with respect to the personal use of an employer-provided vehicle during the moratorium period shall be made without regard to temporary regulations issued by the Secretary of the Treasury. Prohibits the Secretary, during the moratorium period, from issuing any regulations relating to the substantiation requirements with respect to deductions for the business use of vehicles or with respect to amounts included in income for the personal use of employer-provided vehicles.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 24 February 1986

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.