Top Legislation - View All
Also tagged in: Business, Capital gains tax, Collection of accounts, Corporation taxes, Energy, Finance, Financial services, Foreign corporations, Foreign policy, Government contractors, Government information, Government paperwork, Government procurement, Income tax, International affairs, Investment advisers, Leases, Losses, Minimum tax, Natural gas, Partnerships, Petroleum, Petroleum industry, Public contracts, Rent, Tax administration, Tax credits, Tax deductions, Tax exemption, Tax penalties, Tax returns, Tax treaties, Taxation, Taxation of foreign income
Latest Action: 06/26/2008 - Received in the Senate and Read twice and referred to the Committee on Finance. Bill TextTo amend the Internal Revenue Code of 1986 to provide individuals temporary relief from the alternative minimum tax, and for other purposes. 6/17/2008--Introduced. Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liabilities; (3) treat net income and loss from an investment services partnership interest as ordinary income and loss; (4) deny major integrated oil companies a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof; (5) limit tax treaty benefits with respect to U.S. withholding of tax requirements imposed on certain tax deductible payments made directly to a foreign parent corporation; (6) require payment settlement entities to report certain identifying information to the Internal Revenue [...] show full description
Also tagged in: Aged, Annuities, Armed forces, Armed forces reserves, Blind, Bonds, Business, Capital gains tax, Defense policy, Disabled, Earned income tax credit, Earnings, Education, Education savings accounts, Emergency management, Employee health benefits, Executive departments, Expatriation, Families, Finance, Fire fighters, Flexible benefit plans, Foreign corporations, Government contractors, Government employees, Government information, Government service contracts, Health policy, Higher education, Home ownership, Housing, Housing finance, Identification devices, Immigration, Income tax, Individual retirement accounts, Intelligence activities, Intelligence community staff, Labor, Life insurance, Medical care, Mental health services, Military dependents, Military pay, Military personnel, Mortgages, National service, Peace Corps, Pensions, Public contracts, Social security, Social security taxes, Social services, Subsidiary corporations, Supplemental security income program, Survivors' benefits, Tax credits, Tax deferral, Tax evasion, Tax exclusion, Tax penalties, Tax rebates, Tax refunds, Tax returns, Tax-deferred compensation plans, Taxation, Trade, Unemployment insurance, Veterans' benefits, Volunteer workers, Wages, War casualties, Welfare, Welfare eligibility
Latest Action: 06/17/2008 - Became Public Law No: 110-245. Bill TextTo amend the Internal Revenue Code of 1986 to provide benefits for military personnel, and for other purposes. 5/22/2008--Passed Senate without amendment. (There are 2 other summaries) (This measure has not been amended since it was passed by the House on May 20, 2008. The summary of that version is repeated here.)Heroes Earning Assistance and Relief Tax Act of 2008 -Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel.Title I: Benefits for Military - (Sec 101) Exempts married taxpayers who file a joint tax return from the identification requirement for the 2008 recovery tax rebate if at least one of the filers is a current member of the Armed Forces.(Sec. 102) Makes permanent the election to treat combat zone compensation as earned income for purposes of the earned income tax credit. (Sec. 103) Makes permanent the exemption from the first-time homebuyer rule for veterans [...] show full description
Also tagged in: Access to health care, Administrative procedure, Aged, Aid to dependent children, Block grants, Budgets, Business, Caregivers, Child nutrition, Children, Chronically ill, Civil rights, Communications, Community health services, Congress, Congressional reporting requirements, Consumer education, Consumer protection, Consumers, Cooperative societies, Criminal justice, Disabled, Discrimination in insurance, Discrimination in medical care, Drug abuse, Economic policy, Education, Elementary and secondary education, Employee health benefits, Excise tax, Executive departments, Families, Federal aid to child health services, Federal aid to education, Federal aid to health facilities, Finance, Fines (Penalties), Food, Food stamps, Government contractors, Government information, Government paperwork, Government procurement, Government trust funds, Grants-in-aid, Health care fraud, Health education, Health insurance, Health planning, Health policy, Higher education, Homeless, Hospital care, Hospitals, Housing, Immigrant health, Immigration, Income tax, Indexing (Economic policy), Indian medical care, Insurance premiums, Job training, Labor, Law, Legislation, Lifestyle, Long-term care, Long-term care insurance, Maternal health services, Medicaid, Medical care, Medical economics, Medical education, Medical fees, Medically uninsured, Medicare, Medicine, Mental health services, Minorities, Nonprofit organizations, Nursing, Nutrition, Obesity, Parents, Part-time employment, Performance measurement, Physical education and training, Physicians, Poor children, Pregnant women, Preventive medicine, Public contracts, Public health personnel, Quality of care, Reinsurance, Retiree health benefits, Rural affairs, Rural health, Scholarships, School health programs, School lunch program, Self-employed, Signs and symbols, Small business, Smoking, Social services, Sports, State and local government, Student loan funds, Subsidies, Tax credits, Tax deductions, Tax exclusion, Tax penalties, Tax refunds, Tax returns, Taxation, Urban affairs, Urban areas, Welfare, Welfare eligibility, Welfare work participation, WIC program, Women
Latest Action: 01/04/2007 - Sponsor introductory remarks on measure. (CR S149-150) Bill TextA bill to expand access to affordable health care and to strengthen the health care safety net and make health care services more available in rural and underserved areas. 1/4/2007--Introduced. Access to Affordable Health Care Act - Amends the Internal Revenue Code to allow: (1) tax credits to small businesses for qualified employee health insurance expenses; (2) tax credits for qualified health insurance; (3) deductions for long-term care premiums; and (4) tax credits for individuals with long-term care needs. Requires the Secretary of Labor to award grants to states to assist in planning, developing, and operating qualified small employer purchasing groups for health insurance. Directs the Small Business Administration to award grants to states, local governments, and nonprofit organizations to provide health insurance information to small employers. Requires the Secretary of Health and Human Services (the Secretary) to award demonstration grants for [...] show full description
Also tagged in: Administrative fees, Administrative procedure, Administrative remedies, Affiliated corporations, Aged, Aliens, Budgets, Business, Cost of living adjustments, Department of the Treasury, Estate tax, Executive departments, Executive reorganization, Exports, Families, Finance, Financial services, Foreign corporations, Gambling, Gift tax, Government information, Government paperwork, Government trust funds, Health policy, Hobbies, Immigration, Income tax, Insurance, Interest, Intergovernmental tax relations, Internal revenue law, Internal Revenue Service (IRS), Interstate compacts, Inventories, Labor, Law, Loan defaults, Medical care, Medicare, Old age, survivors and disability insurance, Payroll deductions, Politics and government, Poverty, Rebates, Sales tax, Small business, Social security, Social security finance, Social security taxes, Sports, State and local government, State politics and government, Tax administration, Tax auditing, Tax courts, Tax credits, Tax liens, Tax penalties, Tax refunds, Tax returns, Tax simplification, Taxation, Taxation of foreign income, Taxpayer compliance, Taxpayers, Telecommunication, Telephone, Trade, Wages, Welfare
Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means. Bill TextTo promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States. 1/4/2007--Introduced. Fair Tax Act of 2007 - Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2007. Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23 percent in 2009, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes and for state government functions. Sets forth rules relating to: (1) the collection and remittance of the sales tax; and (2) credits and refunds. Allows families a sales tax rebate.Grants states the primary authority for the collection [...] show full description
Also tagged in: Business, Capital gains tax, Corporate mergers, Depreciation and amortization, Employee health benefits, Estates (Law), Finance, Flexible benefit plans, Government contractors, Group insurance, Health policy, Home offices, Income tax, Intangible property, Labor, Law, Life insurance, Long-term care insurance, Medical care, Public contracts, Self-employed, Small business, Stockholders, Stocks, Tax administration, Tax deductions, Tax exclusion, Taxation
Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to provide tax incentives for small businesses, and for other purposes. 1/4/2007--Introduced. Small Business Tax Fairness and Simplification Act of 2007 - Amends the Internal Revenue Code to: (1) allow self-employed individuals to participate in cafeteria pension plans; (2) allow long-term care insurance under cafeteria plans and flexible spending arrangements; (3) allow accelerated amortization of certain intangible assets (e.g., good will) acquired from a small business; (4) increase the tax exclusion of gain from the sale of certain small business stock; (5) provide a $2,500 standard tax deduction for home business expenses; (6) permit certain small businesses to elect a taxable year ending in a month from April to November; (7) increase the allowable number of S corporation shareholders; and (8) exempt certain small businesses from withholding of tax requirements for payments made by government entities.
Also tagged in: Administrative fees, Administrative procedure, Bankruptcy, Budgets, Building construction, Business, Civil rights, Collective bargaining, Congress, Congressional reporting requirements, Construction costs, Criminal justice, Delegation of powers, Department of Labor, Depreciation and amortization, Discrimination in insurance, Discrimination in medical care, Employee health benefits, Executive departments, Federal advisory bodies, Federal preemption, Federal-state relations, Finance, Fines (Penalties), Flexible benefit plans, Food, Franchises (Retail trade), Government information, Government paperwork, Government trust funds, Health care fraud, Health insurance, Health policy, Income tax, Injunctions, Insurance, Insurance agents, Insurance premiums, Labor, Labor contracts, Labor unions, Law, Licenses, Medical care, Medical economics, Medically uninsured, Minimum wages, Northern Mariana Islands, Professional associations, Restaurants, Small business, Standards, State and local government, State laws, State politics and government, State taxation, Surety and fidelity, Tax deductions, Tax rates, Taxation, Trade associations, Trusts and trustees, Unemployment insurance, Valuation
Latest Action: 05/09/2007 - Referred to the Subcommittee on Workforce Protections. Bill TextTo increase the minimum wage, to provide access to health care coverage to employees of small businesses, and to preserve American jobs. 1/9/2007--Introduced. Working Families Wage and Access to Health Care Act - Amends the Fair Labor Standards Act of 1938 to incrementally increase the federal minimum wage to $7.25. Small Business Health Fairness Act of 2007 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide for establishment and governance of association health plans (AHPs), which are group health plans whose sponsors are trade, industry, professional, chamber of commerce, or similar business associations, and which meet certain ERISA certification requirements. Establishes the Association Health Plan Fund to be used by the Secretary of Labor to make payments to an insurer to maintain coverage for a plan, if there is a reasonable expectation that, without such payments, claims would not be satisfied by reason of termination of coverage.[...] show full description
Also tagged in: Accounting, Business, Depreciation and amortization, Due process of law, Finance, Food, Foreign corporations, Income tax, Inventories, Labor, Law, Leases, Minimum wages, Pensions, Railroad retirement plans, Restaurants, Small business, Social security, Social security taxes, Tax administration, Tax credits, Tax deductions, Tax liens, Tax refunds, Tax shelters, Taxation, Taxation of foreign income, Taxpayers, Trade, Transportation, Unemployment insurance, Wages
Latest Action: 01/22/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Fair Labor Standards Act of 1938 to provide for an increase in the Federal minimum wage, and for other purposes. 1/22/2007--Introduced. Minimum Wage Act of 2007 - Amends the Fair Labor Standards Act of 1938 to increase the federal minimum wage to: (1) $5.85 an hour, beginning on the 60th day after enactment of this Act; (2) $6.55 an hour, beginning 12 months after that 60th day; and (3) $7.25 an hour, beginning 24 months after that 60th day.Amends the Internal Revenue Code to: (1) make permanent accelerated cost recovery provisions for qualified leasehold improvement and restaurant property; (2) permit certain small businesses with gross receipts of not more than $10 million to use cash accounting methods and be exempt from the requirement of using inventories; (3) allow employers the work opportunity tax credit for hiring certain restaurant workers between the ages of 16 and 20; (4) set forth a definition and rules for evaluating the economic substance [...] show full description
Also tagged in: Accounting, Administrative procedure, Administrative remedies, Bank employees, Budgets, Business, Capital gains tax, Checks, Citizenship, Compensation for victims of crime, Congress, Congressional reporting requirements, Construction costs, Contracts, Corporation taxes, Cost of living adjustments, Criminal investigation, Criminal justice, Debt, Department of the Treasury, Depreciation and amortization, Disabled, Due process of law, Economic policy, Employment, Employment agencies, Enterprise zones, Executive compensation, Executive departments, Executive reorganization, Expatriation, Finance, Fines (Penalties), Food, Foreign corporations, Fraud, Gifts, Governmental investigations, Immigration, Income tax, Indexing (Economic policy), Insurance, Interest, Internal Revenue Service (IRS), Inventories, Investments, Job training, Labor, Law, Leases, Legislation, Pensions, Professions, Profit, Punitive damages, Restaurants, Retail trade, Securities, Small business, Stockholders, Stocks, Subsidiary corporations, Surety and fidelity, Tax administration, Tax credits, Tax deductions, Tax deferral, Tax exclusion, Tax liens, Tax penalties, Tax refunds, Tax returns, Tax-deferred compensation plans, Taxation, Taxation of foreign income, Trade, Trusts and trustees, Urban affairs, User charges, Veterans, Veterans' employment, Visas, Wages, Welfare, Welfare work participation, Whistle blowing
Latest Action: 01/22/2007 - Committee on Finance. Original measure reported to Senate by Senator Baucus. With written report No. 110-1. Additional views filed. Bill TextAn original bill to amend the Internal Revenue Code of 1986 to provide additional tax incentives to employers and employees of small businesses, and for other purposes. 1/22/2007--Reported to Senate without amendment, 1st committee reporting. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Small Business and Work Opportunity Act of 2007 - Title I: Small Business Tax Relief Provisions - Subtitle A: General Provisions - (Sec. 101) Amends the Internal Revenue Code to extend through 2010 the increased expensing allowance for small business assets. (Sec. 102) Extends through March 2008 accelerated depreciation of qualified leasehold and restaurant improvement property. Revises the definition of "qualified restaurant property" to eliminate the requirement that improvements to restaurant property must be [...] show full description
Also tagged in: Armed forces, Armed forces reserves, Business, Defense policy, Defined benefit pension plans, Federal employees, Government employees, Income tax, Iraq compilation, Labor, Leave of absence, Military pay, Military personnel, National Guard, Pensions, Salaries, Tax credits, Tax deductions, Tax-deferred compensation plans, Taxation, Veterans, Veterans' employment
Latest Action: 01/24/2007 - Sponsor introductory remarks on measure. (CR S1070-1071) Bill TextA bill to provide pay protection for members of the Reserve and the National Guard, and for other purposes. 1/24/2007--Introduced. Helping Our Patriotic Employers at Helping Our Military Employees Act of 2007 or the HOPE at HOME Act of 2007- Entitles federal employees who are absent from their jobs for a period of more than 90 days for the purpose of performing active duty service in the uniformed services to receive the full amount of basic pay that they would have received if there had been no such interruption in their federal employment.Amends the Internal Revenue Code to: (1) allow employers a business tax credit for 50 percent of the actual compensation paid to Ready Reserve-National Guard employees while on active duty or hospitalized incident to such duty; (2) allow employers a tax credit for wages paid to temporary employees hired to replace Ready Reserve-National Guard employees while on active duty; (3) provide for withholding of tax on differential wage [...] show full description
Also tagged in: Armed forces, Armed forces reserves, Business, College costs, Defense policy, Earned income tax credit, Education, Education savings accounts, Health policy, Higher education, Income tax, Individual retirement accounts, Iraq compilation, Labor, Medical care, Medical savings accounts, Military pay, Military personnel, Pensions, Replacement workers, Self-employed, Small business, Survivors' benefits, Tax credits, Tax deductions, Tax exclusion, Tax penalties, Taxation, Temporary employment, Wages, Welfare
Latest Action: 01/31/2007 - Sponsor introductory remarks on measure. (CR S1431) Bill TextA bill to amend the internal Revenue Code of 1986 to provide tax relief to active duty military personnel and employers who assist them, and for other purposes. 1/31/2007--Introduced. 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 [...] show full description
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Latest Legislation - View All
Also tagged in: Business, Capital gains tax, Collection of accounts, Corporation taxes, Energy, Finance, Financial services, Foreign corporations, Foreign policy, Government contractors, Government information, Government paperwork, Government procurement, Income tax, International affairs, Investment advisers, Leases, Losses, Minimum tax, Natural gas, Partnerships, Petroleum, Petroleum industry, Public contracts, Rent, Tax administration, Tax credits, Tax deductions, Tax exemption, Tax penalties, Tax returns, Tax treaties, Taxation, Taxation of foreign income
Latest Action: 06/26/2008 - Received in the Senate and Read twice and referred to the Committee on Finance. Bill TextTo amend the Internal Revenue Code of 1986 to provide individuals temporary relief from the alternative minimum tax, and for other purposes. 6/17/2008--Introduced. Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liabilities; (3) treat net income and loss from an investment services partnership interest as ordinary income and loss; (4) deny major integrated oil companies a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof; (5) limit tax treaty benefits with respect to U.S. withholding of tax requirements imposed on certain tax deductible payments made directly to a foreign parent corporation; (6) require payment settlement entities to report certain identifying information to the Internal Revenue [...] show full description
Also tagged in: Aged, Annuities, Armed forces, Armed forces reserves, Blind, Bonds, Business, Capital gains tax, Defense policy, Disabled, Earned income tax credit, Earnings, Education, Education savings accounts, Emergency management, Employee health benefits, Executive departments, Expatriation, Families, Finance, Fire fighters, Flexible benefit plans, Foreign corporations, Government contractors, Government employees, Government information, Government service contracts, Health policy, Higher education, Home ownership, Housing, Housing finance, Identification devices, Immigration, Income tax, Individual retirement accounts, Intelligence activities, Intelligence community staff, Labor, Life insurance, Medical care, Mental health services, Military dependents, Military pay, Military personnel, Mortgages, National service, Peace Corps, Pensions, Public contracts, Social security, Social security taxes, Social services, Subsidiary corporations, Supplemental security income program, Survivors' benefits, Tax credits, Tax deferral, Tax evasion, Tax exclusion, Tax penalties, Tax rebates, Tax refunds, Tax returns, Tax-deferred compensation plans, Taxation, Trade, Unemployment insurance, Veterans' benefits, Volunteer workers, Wages, War casualties, Welfare, Welfare eligibility
Latest Action: 06/17/2008 - Became Public Law No: 110-245. Bill TextTo amend the Internal Revenue Code of 1986 to provide benefits for military personnel, and for other purposes. 5/22/2008--Passed Senate without amendment. (There are 2 other summaries) (This measure has not been amended since it was passed by the House on May 20, 2008. The summary of that version is repeated here.)Heroes Earning Assistance and Relief Tax Act of 2008 -Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel.Title I: Benefits for Military - (Sec 101) Exempts married taxpayers who file a joint tax return from the identification requirement for the 2008 recovery tax rebate if at least one of the filers is a current member of the Armed Forces.(Sec. 102) Makes permanent the election to treat combat zone compensation as earned income for purposes of the earned income tax credit. (Sec. 103) Makes permanent the exemption from the first-time homebuyer rule for veterans [...] show full description
Also tagged in: Budgets, Business, Collection of accounts, Communications, Congress, Congressional reporting requirements, Corporation taxes, Criminal justice, Debit cards, Department of the Treasury, Earned income tax credit, Electronic funds transfers, Executive departments, Finance, Fraud, Government contractors, Government information, Government procurement, Government publicity, Government service contracts, Governmental investigations, Grants-in-aid, Home care services, Identity theft, Income tax, Internet, Labor, Law, Loans, Names, Partnerships, Public contracts, Searches and seizures, Signs and symbols, Social services, Tax auditing, Tax deductions, Tax exemption, Tax liens, Tax penalties, Tax preparers, Tax refunds, Tax returns, Taxation, Taxpayers, Technology, Telecommunication, Volunteer workers, Welfare, Wireless communication
Latest Action: 04/16/2008 - Received in the Senate and Read twice and referred to the Committee on Finance. Bill TextTo amend the Internal Revenue Code of 1986 to conform return preparer penalty standards, delay implementation of withholding taxes on government contractors, enhance taxpayer protections, assist low-income taxpayers, and for other purposes. 4/15/2008--Passed House amended. (There are 2 other summaries) Taxpayer Assistance and Simplification Act of 2008 - (Sec. 2) Amends the Internal Revenue Code to modify the standards for imposing penalties on tax return preparers for understatements of tax to require: (1) substantial authority for a position with respect to an item on a tax return if such position was not disclosed with the return; and (2) a reasonable basis for a position that was disclosed with the return. Requires tax return preparers to have a reasonable belief that a position with respect to a tax shelter or a reportable transaction (a transaction having a potential for tax avoidance or evasion) will more likely than not be sustained on [...] show full description
Also tagged in: Flexible benefit plans, Income tax, Labor, Old age, survivors and disability insurance, Payroll deductions, Pensions, Puerto Ricans, Puerto Rico, Social security, Social security taxes, Tax exclusion, Tax exemption, Taxation, Unemployment insurance, Wages
Latest Action: 11/15/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to provide for residents of Puerto Rico who participate in cafeteria plans under the Puerto Rican tax laws an exclusion from employment taxes which is comparable to the exclusion that applies to cafeteria plans under such Code. 11/15/2007--Introduced. Amends the Internal Revenue Code to exempt from employment and unemployment taxes payments made on behalf of Puerto Rican residents participating in tax-exempt employee benefit cafeteria plans established under Puerto Rican law.
Also tagged in: Air pollution, Air traffic, Air traffic control, Airline employees, Airline passenger traffic, Airports, Alcohol as fuel, Appropriations, Aviation fuels, Biomass energy, Bonds, Bridges, Budgets, Business, Collection of accounts, Corporation taxes, Diesel motor, Energy, Environmental protection, Excise tax, Executive departments, Expatriation, Federal advisory bodies, Federal aid to transportation, Finance, Fines (Penalties), Foreign corporations, Free ports and zones, Gasoline, Gift tax, Government information, Government paperwork, Government trust funds, Great Lakes, Harbors, Highway finance, Immigration, Income tax, Individual retirement accounts, Infrastructure, Interest, Interest rates, Labor, Law, Liability for environmental damages, Marine terminals, Minnesota, Motor vehicle pollution control, New York City, New York State, Oil pollution, Pension funds, Pensions, Private aviation, Punitive damages, Railroad engineering, Railroad finance, Road construction, St. Lawrence Seaway, Tax administration, Tax credits, Tax deductions, Tax evasion, Tax exemption, Tax penalties, Tax rates, Tax returns, Tax-deferred compensation plans, Taxation, Taxation of foreign income, Taxpayers, Tourism, Trade, Transportation, Valuation, Water pollution
Latest Action: 11/13/2007 - Committee on Finance. Original measure reported to Senate by Senator Baucus. With written report No. 110-228. Additional views filed. Bill TextAn original bill to amend the Internal Revenue Code of 1986 and to extend the financing for the Airport and Airway Trust Fund, and for other purposes. 11/13/2007--Reported to Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)American Infrastructure Investment and Improvement Act of 2007 - Title I: Airport And Airway Trust Fund Provisions And Related Taxes - (Sec. 101) Amends the Internal Revenue Code to extend through FY2011 the excise taxes on aviation fuels and the transportation of persons and property by air.(Sec. 102) Extends through FY2011 the expenditure authority for the Airport and Airway Trust Fund.(Sec. 103) Imposes an excise tax on aviation-grade kerosene of 35.9 cents per gallon (4.3 cents per gallon for fuel used in commercial aviation). (Sec. 104) Increases to $16.[...] show full description
Also tagged in: Accounting, Administrative procedure, Aged, Aliens, Alimony, Americans in foreign countries, Annuities, Armed forces, Athletics, Bank accounts, Banks and banking, Bonds, Business, Business travel, Capital gains tax, Cemeteries and funerals, Charitable contributions, Child support, Children, College costs, College sports, Colleges, Commemorations, Communications, Conservation of natural resources, Contracts, Cooperative societies, Corporate governance, Corporate mergers, Corporation taxes, Cost of living adjustments, Criminal justice, Damages, Debt, Defense policy, Department of the Treasury, Depreciation and amortization, Disability insurance, Disabled, Dividends, Divorce, Economic policy, Education, Education savings accounts, Employee ownership, Employee training, Environmental protection, Estate tax, Executive departments, Expatriation, Families, Finance, Financial services, Food, Foreign corporations, Foreign policy, Foster home care, Foundations, Fringe benefits, Gift tax, Gifts, Government corporations, Habitat conservation, Health insurance, Health policy, Higher education, Historic sites, History, Home ownership, Housing, Housing finance, Immigration, Imports, Income tax, Indexing (Economic policy), Individual retirement accounts, Insurance companies, Insurance premiums, Interest, Intergovernmental tax relations, International affairs, Job training, Labor, Land use, Law, Leases, Life insurance, Loan defaults, Lobbying, Local government, Losses, Marketing, Married people, Medical care, Medical economics, Medical research, Medical savings accounts, Medicare, Military pay, Military pensions, Mortgages, Natural resources, Officer personnel, Old age, survivors and disability insurance, Open space lands, Outdoor recreation, Partnerships, Pensions, Politics and government, Profit, Railroad retirement plans, Real estate business, Real estate development, Recreation areas, Rent, Salaries, School personnel, Science policy, Single people, Social security, Social security taxes, Social services, Sports, Sports facilities, State and local government, State politics and government, Stocks, Tax administration, Tax credits, Tax deductions, Tax deferral, Tax evasion, Tax exclusion, Tax exemption, Tax penalties, Tax rates, Tax refunds, Tax returns, Tax simplification, Tax treaties, Tax-deferred compensation plans, Tax-exempt organizations, Taxation, Taxation of foreign income, Teachers, Telecommunication, Telecommunication industry, Telephone, Territories (U.S.), Terrorism, Torts, Trade, Transportation, Travel costs, Trusts and trustees, Unemployment, Unrelated business income tax, Vocational education, Wages, Workers' compensation
Latest Action: 11/13/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to restructure and replace the income tax system of the United States to meet national priorities, and for other purposes. 11/13/2007--Introduced. Simplified USA Tax Act of 2007 - Repeals, after 2006, income tax and estate and gift tax provisions of the Internal Revenue Code of 1986. Replaces such Code with a new tax system, to be known as the Simplified USA Tax. Establishes three income tax brackets at 15, 25, and 30% for individual taxpayers. Redefines "gross income" and allows certain exclusions from gross income, including previously-taxed benefits, tax-exempt bond interest, compensation for injuries and sickness, and gain from the sale of a principal residence. Allows tax deductions for alimony and child support, home mortgage interest, certain higher education expenses, and charitable contributions. Allows a tax credit for employee social security payroll taxes.Revises rules for Roth individual retirement [...] show full description
Also tagged in: Alabama, Alcohol tax, American Samoa, Armed forces, Bonds, Books, Brokers, Brownfields, Budgets, Business, Caribbean area, Charitable contributions, Children, Civil rights, Collection of accounts, College costs, Computer software, Computers, Congress, Congressional reporting requirements, Cooperative housing, Corporation taxes, Criminal justice, Debt, Defense policy, Depreciation and amortization, Discrimination in insurance, Discrimination in medical care, District of Columbia, Dividends, Earned income tax credit, Economic development, Economic policy, Education, Educational technology, Elementary and secondary education, Elementary education, Employee stock options, Employment, Environmental protection, Estate tax, Expatriation, Families, Federal aid to education, Federal-local relations, Finance, Food, Foreign corporations, Foreign tax credit, Gift tax, Government contractors, Government employees, Government information, Government paperwork, Government travel, Hazardous substances, Hazardous waste sites, Hazardous wastes, Health insurance, Higher education, Home ownership, Housing, Housing finance, Humanities, Hurricanes, Immigration, Income tax, Indian lands, Indians, Individual retirement accounts, Industrial research, Insurance premiums, Interest, Intergovernmental fiscal relations, Investments, Labor, Leases, Liability for environmental damages, Local taxation, Louisiana, Maintenance and repair, Mental health services, Mental illness, Military pay, Military personnel, Minimum tax, Minorities, Mississippi, Mortgage guaranty insurance, Mortgages, Mutual funds, Natural resources, Nature conservation, Partnerships, Pensions, Property tax, Public contracts, Puerto Rico, Railroads, Research and development tax credit, Restaurants, Sales tax, Scholarships, School buildings, Secondary education, Securities industry, Social security taxes, Solid wastes, Sports, Sports facilities, State and local government, State legislators, State taxation, Stocks, Student loan funds, Subsidiary corporations, Surety and fidelity, Tariff, Tax administration, Tax credits, Tax deductions, Tax deferral, Tax evasion, Tax exclusion, Tax incentives, Tax penalties, Tax refunds, Tax returns, Tax-deferred compensation plans, Tax-exempt organizations, Taxation, Taxation of foreign income, Teachers, Teaching materials, Technology, Terrorism, Trade, Transportation, Travel costs, Undercover operations, Valuation, Veterans, Veterans' benefits, Virgin Islands, Welfare, Wine
Latest Action: 12/26/2007 - Became Public Law No: 110-166. Bill TextTo amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 12/26/2007--Public Law. (There are 3 other summaries) (This measure has not been amended since it was passed by the Senate on December 6, 2007. The summary of that version is repeated here.) Tax Increase Prevention Act of 2007 - Amends the Internal Revenue Code to extend through 2007 for individual taxpayers: (1) the increased alternative minimum tax (AMT) exemption amounts; and (2) the offset of nonrefundable personal tax credits against regular and AMT liability.
Also tagged in: Brownfields, Business, Capital gains tax, Corporation taxes, Depreciation and amortization, Depressed areas, Economic policy, Employment, Enterprise zones, Environmental protection, Finance, Food, Government contractors, Hazardous substances, Hazardous waste sites, Hazardous wastes, Income tax, Labor, Leases, Liability for environmental damages, Public contracts, Research and development tax credit, Restaurants, Science policy, Small business, Solid wastes, Stockholders, Stocks, Tax administration, Tax deductions, Tax exclusion, Taxation
Latest Action: 10/18/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to provide tax relief for small businesses. 10/18/2007--Introduced. Small Business Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the work opportunity tax credit, the new markets tax credit, and the tax credit for increasing research activities; (2) make permanent accelerated depreciation of qualified leasehold improvement and restaurant property and expensing of environmental remediation expenditures; (3) increase the partial tax exclusion of gain from sales of certain small business stock for noncorporate business taxpayers and businesses in an empowerment zone; (4) permit certain small businesses to elect taxable years ending between April and November; (5) increase the allowable number of S corporation shareholders from 100 to 150; and (6) exempt certain small businesses from the 3% withholding requirement applicable to payments made to such businesses by government entities.
Also tagged in: Armed forces, Armed forces reserves, Business, College costs, Defense policy, Earned income tax credit, Education, Education savings accounts, Health policy, Higher education, Income tax, Individual retirement accounts, Iraq compilation, Labor, Medical care, Medical savings accounts, Military pay, Military personnel, Pensions, Replacement workers, Self-employed, Small business, Survivors' benefits, Tax credits, Tax deductions, Tax exclusion, Tax penalties, Taxation, Temporary employment, Wages, Welfare
Latest Action: 10/15/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to provide tax relief to active duty military personnel and employers who assist them, and for other purposes. 10/15/2007--Introduced. Active Duty Military Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) allow certain small business owners (businesses having 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 [...] show full description
Latest Action: 09/25/2007 - Sponsor introductory remarks on measure. (CR E1979-1980) Bill TextTo amend the Internal Revenue Code of 1986 to provide that tips shall not be subject to income or employment taxes. 9/25/2007--Introduced. Tax Free Tips Act of 2007 - Amends the Internal Revenue Code to exempt tips from the income tax, social security and railroad retirement taxes, unemployment taxes, and tax withholding. Defines "tips" as any gratuity provided to a salaried employee by a customer or client of the employer's business.
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