Active Duty Military Tax Relief Act of 2007

Summary

Active Duty Military Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) allow certain small business owners (with 100 or fewer employees) and self-employed individuals a tax credit for wages paid to members of the Ready Reserve of the Armed Forces and to temporary replacement employees for such members while on active military duty; (2) treat differential wage payments made to members of the Ready Reserve as earned income for tax withholding and retirement plan purposes; (3) allow the rollover of military death gratuities to individual retirement accounts, health savings accounts, Archer medical savings accounts, and education savings accounts; (4) increase the standard tax deduction by $1,000 in 2007 and 2008 for members of the uniformed services on active duty for more than 30 days; and (5) make permanent the taxpayer election to treat combat pay as earned income for purposes of computing the earned income tax credit.

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

Timeline

1. 31 January 2007

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1431-1434)

   Source: IntroReferral

2. 31 January 2007

   Introduced

   Sponsor introductory remarks on measure. (CR S1431)

   Source: IntroReferral

3. 31 January 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 31 January 2007 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 31 January 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 31 January 2007

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 31 January 2007

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Kerry, John F. [D-MA] · D · Sponsor
• Sen. Smith, Gordon H. [R-OR] · R · Cosponsor
• Sen. Cantwell, Maria [D-WA] · D · Cosponsor
• Sen. Lincoln, Blanche L. [D-AR] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Strengthen the Earned Income Tax Credit Act of 2007
• related to → To amend the Internal Revenue Code of 1986 to make permanent law the treatment of tax-exempt combat pay as earned income for purposes of the earned income credit.
• related to → Providing Tax Fairness for Service Members and Veterans Act of 2007
• related to → Combat Pay Tax Flexibility Act of 2007
• related to → Combat Troops Tax Relief Act of 2007
• related to → Active Duty Military Tax Relief Act of 2007
• related to → To amend the Internal Revenue Code of 1986 to permanently extend the election to include combat pay as earned income for purposes of the earned income tax credit and penalty-free distributions from retirement plans to individuals called to active duty, and for other purposes.
• related to ← TRAC Act
• related to ← Strengthen the Earned Income Tax Credit Act of 2007