A bill to increase the maximum annual dollar amount limitation on deductions allowed under the Internal Revenue Code of 1954 for contributions to an individual retirement account of a spouse and to provide that the limitation relating to the amount of compensation received shall be computed on the basis of the combined compensation of a husband and wife.

openUnited States· United States Congress· EN

Introduced

28 March 1985

Last action

—

Status

Committee on Finance requested executive comment from OMB, Treasury Department.

Summary

Amends the Internal Revenue Code to increase the maximum dollar amount limitation to $2,000 on deductions allowed for contributions to an individual retirement account of a spouse and to provide that the deduction for the individual retirement account shall be computed for married individuals on the basis of their combined compensation.

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Documents

1 official file

Introduced in Senate
summary · EN · 28 March 1985
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/99th-congress/senate-bill/800
Open data entity: https://api.congress.gov/v3/bill/99/s/800