Top Legislation - View All
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, 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, Withholding tax
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: Budgets, Business, Children, Computers, Cost of living adjustments, Day care, Economic policy, Education, Families, Finance, Fringe benefits, Government trust funds, Higher education, Income tax, Indexing (Economic policy), Interest, Job training, Labor, Married people, Old age, survivors and disability insurance, Parents, Pensions, Social security, Student loan funds, Survivors' benefits, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax rates, Taxation, Technology, Telecommunication, Telecommuting, Wages
Latest Action: 03/08/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to increase tax benefits for parents with children, and for other purposes. 3/8/2007--Introduced. Parents' Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) provide for a minimum tax credit for household and dependent care services for dependents under the age of seven and to phase out such credit based on the amount by which the taxpayer's adjusted gross income exceeds a threshold amount; (2) increase to $5,000 the amount of the personal tax exemption; (3) eliminate the marriage penalty in all income tax brackets and in the tax deduction for student loan interest; (4) establish a standard tax deduction for expenses related to business usage of a home; (5) make permanent increases in the child tax credit and adjust the amount of such credit for inflation on an annual basis after 2007; (6) allow employers a tax credit for employees who telecommute; and (7) allow an exclusion from employee gross income for employer-provided [...] show full description
Also tagged in: Budgets, Business, Children, Computers, Cost of living adjustments, Day care, Economic policy, Education, Families, Finance, Fringe benefits, Government trust funds, Higher education, Income tax, Indexing (Economic policy), Interest, Job training, Labor, Married people, Old age, survivors and disability insurance, Parents, Pensions, Social security, Student loan funds, Survivors' benefits, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax rates, Taxation, Technology, Telecommunication, Telecommuting, Wages
Latest Action: 03/08/2007 - Sponsor introductory remarks on measure. (CR E499-500) Bill TextTo amend the Internal Revenue Code of 1986 to increase tax benefits for parents with children, and for other purposes. 3/8/2007--Introduced. Parents' Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) provide for a minimum tax credit for household and dependent care services for dependents under the age of seven and to phase out such credit based on the amount by which the taxpayer's adjusted gross income exceeds a threshold amount; (2) increase to $5,000 the amount of the personal tax exemption; (3) eliminate the marriage penalty in all income tax brackets and in the tax deduction for student loan interest; (4) establish a standard tax deduction for expenses related to business usage of a home; (5) make permanent increases in the child tax credit and adjust the amount of such credit for inflation on an annual basis after 2007; (6) allow employers a tax credit for employees who telecommute; and (7) allow an exclusion from employee gross income for employer-provided [...] show full description
Also tagged in: Armed forces, Budgets, Congress, Congress and military policy, Congressional reporting requirements, Day care, Defense policy, Education, Elementary and secondary education, Families, Federal aid to education, Governmental investigations, Higher education, Income tax, Job training, Labor, Married people, Medical care, Medical personnel, Medicine, Military dependents, Preschool education, Recruiting and enlistment, Tax credits, Teacher education, Telecommunication, Telecommuting, Veterans, Veterans' education, Veterans' employment, Wages
Latest Action: 02/06/2008 - Read twice and referred to the Committee on Finance. Bill TextA bill to provide enhanced education and employment opportunities for military spouses. 2/6/2008--Introduced. Military Spouse Education and Employment Act of 2008 - Amends the Internal Revenue Code to include spouses of members of the Armed Forces on extended active duty (more than 90 days or for an indefinite period) and eligible teleworking military spouses (teleworking spouses whose wages are expected to equal or exceed 150% of U.S. median annual earnings) as members of a targeted group for purposes of the work opportunity tax credit. Includes the wife or husband of a member serving on extended active duty within the federal veterans' employment preference. Allows members who have completed two terms of service and have reenlisted for a third term to transfer a portion of their entitlement to basic educational assistance under the Montgomery GI Bill. (Current law allows such transfer for members with critical military skills.) Requires studies on: (1) [...] show full description
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Latest Legislation - View All
Also tagged in: Armed forces, Budgets, Congress, Congress and military policy, Congressional reporting requirements, Day care, Defense policy, Education, Elementary and secondary education, Families, Federal aid to education, Governmental investigations, Higher education, Income tax, Job training, Labor, Married people, Medical care, Medical personnel, Medicine, Military dependents, Preschool education, Recruiting and enlistment, Tax credits, Teacher education, Telecommunication, Telecommuting, Veterans, Veterans' education, Veterans' employment, Wages
Latest Action: 02/06/2008 - Read twice and referred to the Committee on Finance. Bill TextA bill to provide enhanced education and employment opportunities for military spouses. 2/6/2008--Introduced. Military Spouse Education and Employment Act of 2008 - Amends the Internal Revenue Code to include spouses of members of the Armed Forces on extended active duty (more than 90 days or for an indefinite period) and eligible teleworking military spouses (teleworking spouses whose wages are expected to equal or exceed 150% of U.S. median annual earnings) as members of a targeted group for purposes of the work opportunity tax credit. Includes the wife or husband of a member serving on extended active duty within the federal veterans' employment preference. Allows members who have completed two terms of service and have reenlisted for a third term to transfer a portion of their entitlement to basic educational assistance under the Montgomery GI Bill. (Current law allows such transfer for members with critical military skills.) Requires studies on: (1) [...] show full description
Also tagged in: Budgets, Business, Children, Computers, Cost of living adjustments, Day care, Economic policy, Education, Families, Finance, Fringe benefits, Government trust funds, Higher education, Income tax, Indexing (Economic policy), Interest, Job training, Labor, Married people, Old age, survivors and disability insurance, Parents, Pensions, Social security, Student loan funds, Survivors' benefits, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax rates, Taxation, Technology, Telecommunication, Telecommuting, Wages
Latest Action: 03/08/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to increase tax benefits for parents with children, and for other purposes. 3/8/2007--Introduced. Parents' Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) provide for a minimum tax credit for household and dependent care services for dependents under the age of seven and to phase out such credit based on the amount by which the taxpayer's adjusted gross income exceeds a threshold amount; (2) increase to $5,000 the amount of the personal tax exemption; (3) eliminate the marriage penalty in all income tax brackets and in the tax deduction for student loan interest; (4) establish a standard tax deduction for expenses related to business usage of a home; (5) make permanent increases in the child tax credit and adjust the amount of such credit for inflation on an annual basis after 2007; (6) allow employers a tax credit for employees who telecommute; and (7) allow an exclusion from employee gross income for employer-provided [...] show full description
Also tagged in: Budgets, Business, Children, Computers, Cost of living adjustments, Day care, Economic policy, Education, Families, Finance, Fringe benefits, Government trust funds, Higher education, Income tax, Indexing (Economic policy), Interest, Job training, Labor, Married people, Old age, survivors and disability insurance, Parents, Pensions, Social security, Student loan funds, Survivors' benefits, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax rates, Taxation, Technology, Telecommunication, Telecommuting, Wages
Latest Action: 03/08/2007 - Sponsor introductory remarks on measure. (CR E499-500) Bill TextTo amend the Internal Revenue Code of 1986 to increase tax benefits for parents with children, and for other purposes. 3/8/2007--Introduced. Parents' Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) provide for a minimum tax credit for household and dependent care services for dependents under the age of seven and to phase out such credit based on the amount by which the taxpayer's adjusted gross income exceeds a threshold amount; (2) increase to $5,000 the amount of the personal tax exemption; (3) eliminate the marriage penalty in all income tax brackets and in the tax deduction for student loan interest; (4) establish a standard tax deduction for expenses related to business usage of a home; (5) make permanent increases in the child tax credit and adjust the amount of such credit for inflation on an annual basis after 2007; (6) allow employers a tax credit for employees who telecommute; and (7) allow an exclusion from employee gross income for employer-provided [...] 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, 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, Withholding tax
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.
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