All Tax deferral Legislation - Federal Government
H.R.6081 - To amend the Internal Revenue Code of 1986 to provide benefits for military personnel, and for other purposes.
Latest Action: 06/17/2008 - Became Public Law No: 110-245. Bill Text To amend the Internal Revenue Code of 1986 to provide benefits for military personnel, and for other purposes. 6/17/2008--Public Law. (There are 3 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 using mortgage [...] show full description (1) Comment About This Bill H.R.5984 - To amend the Internal Revenue Code of 1986 to provide for the limited continuation of clean energy production incentives and incentives to improve energy efficiency in order to prevent a downturn in these sectors that would result from a lapse in the tax law.
Latest Action: 05/07/2008 - Referred to the House Committee on Ways and Means. Bill Text To amend the Internal Revenue Code of 1986 to provide for the limited continuation of clean energy production incentives and incentives to improve energy efficiency in order to prevent a downturn in these sectors that would result from a lapse in the tax law. 5/7/2008--Introduced. Clean Energy Tax Stimulus Act of 2008 - Amends the Internal Revenue Code to extend certain tax incentives for energy production and conservation. Extends through 2009 the tax credit for the production of electricity from renewable resources (e.g., biomass, geothermal energy, landfill gas, and trash combustion). Includes marine and hydrokinetic renewable energy as a renewable resource eligible for such credit. Allows sales of electricity produced from renewable resources to regulated public utilities. Extends through 2016 the energy investment tax credit for solar energy, fuel cell, and microturbine property. Repeals the dollar per kilowatt limitation for fuel cell property under the [...] show full description S.2821 - A bill to amend the Internal Revenue Code of 1986 to provide for the limited continuation of clean energy production incentives and incentives to improve energy efficiency in order to prevent a downturn in these sectors that would result from a lapse in the tax law.
Latest Action: 04/03/2008 - Read twice and referred to the Committee on Finance. Bill Text A bill to amend the Internal Revenue Code of 1986 to provide for the limited continuation of clean energy production incentives and incentives to improve energy efficiency in order to prevent a downturn in these sectors that would result from a lapse in the tax law. 4/3/2008--Introduced. Clean Energy Tax Stimulus Act of 2008 - Amends the Internal Revenue Code to extend certain tax incentives for energy production and conservation. Extends through 2009 the tax credit for the production of electricity from renewable resources (e.g., biomass, geothermal energy, landfill gas, and trash combustion). Includes marine and hydrokinetic renewable energy as a renewable resource eligible for such credit. Allows sales of electricity produced from renewable resources to regulated public utilities. Extends the energy investment tax credits for solar energy (through 2016) and for fuel cell and microturbine property (through 2017). Repeals the dollar per kilowatt limitation for [...] show full description H.R.4159 - To 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.
Latest Action: 11/13/2007 - Referred to the House Committee on Ways and Means. Bill Text To 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 H.R.3996 - To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.
Latest Action: 12/26/2007 - Became Public Law No: 110-166. Bill Text To 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. H.R.3735 - To amend the Internal Revenue Code of 1986 to extend the look-through treatment of payments between related controlled foreign corporations.
Latest Action: 10/02/2007 - Referred to the House Committee on Ways and Means. Bill Text To amend the Internal Revenue Code of 1986 to extend the look-through treatment of payments between related controlled foreign corporations. 10/2/2007--Introduced.
Amends the Internal Revenue Code to extend through 2013 the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income). S.2126 - A bill to amend the Internal Revenue Code of 1986 to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies.
Latest Action: 10/02/2007 - Sponsor introductory remarks on measure. (CR S12439-12440) Bill Text A bill to amend the Internal Revenue Code of 1986 to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies. 10/2/2007--Introduced. Generate Retirement Ownership Through Long-Term Holding Act of 2007 - Amends the Internal Revenue Code to provide that no gain shall be recognized on the receipt of a capital gain dividend distributed by a regulated investment company if such dividend is automatically reinvested in additional shares of the company pursuant to a dividend reinvestment plan. H.R.3264 - To amend the Internal Revenue Code of 1986 to modernize the tax treatment of biomedical research corporations.
Latest Action: 08/02/2007 - Sponsor introductory remarks on measure. (CR E1689-1690) Bill Text To amend the Internal Revenue Code of 1986 to modernize the tax treatment of biomedical research corporations. 7/31/2007--Introduced. American Life Sciences Competitiveness Act of 2007 - Amends the Internal Revenue Code to allow biomedical research corporations to: (1) engage in investment activity involving shifts in ownership without incurring limitations on net operating loss carryforwards; (2) claim a full research and development tax credit for contract research expenses (currently, limited to 65%); (3) claim a business tax credit for 20% of eligible countermeasures research expenses (for biomedical threats); and (4) claim a tax-free rollover of gain from stock sales reinvested in another biomedical research corporation.Expands the tax credit for clinical testing expenses for drugs to treat rare diseases (orphan drugs) to include expenses incurred after an application is made to the Food and Drug Administration (FDA) but before receipt of an orphan drug designation.[...] show full description H.R.3056 - To amend the Internal Revenue Code of 1986 to repeal the authority of the Internal Revenue Service to use private debt collection companies, to delay implementation of withholding taxes on government contractors, to revise the tax rules on expatriation, and for other purposes.
Latest Action: 10/15/2007 - Received in the Senate and Read twice and referred to the Committee on Finance. Bill Text To amend the Internal Revenue Code of 1986 to repeal the authority of the Internal Revenue Service to use private debt collection companies, to delay implementation of withholding taxes on government contractors, to revise the tax rules on expatriation, and for other purposes. 10/10/2007--Passed House amended. (There are 2 other summaries) Tax Collection Responsibility Act of 2007 - (Sec. 2) Repeals the authority of the Internal Revenue Service (IRS) to enter into private debt collection contracts. Exempts contracts entered into before July 18, 2007, if such contracts are not renewed or extended after such date. Nullifies any contract entered into, extended, or renewed on or after July 18, 2007.(Sec. 3) Delays until 2012 the requirement for federal, state, and local agencies to withhold 3% of payments for goods and services provided to such agencies.Requires the Secretary of the Treasury to report to the House Committee on Ways and Means [...] show full description H.R.3003 - To amend the Internal Revenue Code of 1986 to provide tax incentives to encourage diversity of ownership of telecommunications businesses, and for other purposes.
Latest Action: 07/11/2007 - Sponsor introductory remarks on measure. (CR E1488) Bill Text To amend the Internal Revenue Code of 1986 to provide tax incentives to encourage diversity of ownership of telecommunications businesses, and for other purposes. 7/11/2007--Introduced.
Amends the Internal Revenue Code to allow a taxpayer election to defer from tax up to $50 million of the gain from the sale of the assets or stock of a telecommunications business to certain small businesses that own 10 or fewer broadcast stations. Limits to three the number of such purchases by any qualifying small business. Requires the recapture of such deferred gain for any telecommunications business resold within five years. Authorizes the Administrator of the Small Business Administration to guarantee loans made to small businesses for the purchase of a telecommunications business. H.R.2796 - To amend the Internal Revenue Code of 1986 to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies.
Latest Action: 06/20/2007 - Sponsor introductory remarks on measure. (CR E1361) Bill Text To amend the Internal Revenue Code of 1986 to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies. 6/20/2007--Introduced. Generate Retirement Ownership Through Long-Term Holding Act of 2007 - Amends the Internal Revenue Code to provide that no gain shall be recognized on the receipt of a capital gain dividend distributed by a regulated investment company if such dividend is automatically reinvested in additional shares of the company pursuant to a dividend reinvestment plan. S.1593 - A bill to amend the Internal Revenue Code of 1986 to provide tax relief and protections to military personnel, and for other purposes.
Latest Action: 06/12/2007 - Sponsor introductory remarks on measure. (CR S7548) Bill Text A bill to amend the Internal Revenue Code of 1986 to provide tax relief and protections to military personnel, and for other purposes. 6/12/2007--Introduced. Defenders of Freedom Tax Relief Act of 2007 - Amends Internal Revenue Code provisions relating to military personnel to: (1) extend the limitation period for filing tax refund claims resulting from Department of Veterans Affairs (VA) disability determinations; (2) make permanent the taxpayer election to treat combat zone compensation as earned income for purposes of the earned income tax credit; (3) treat differential wage payments made to active duty members of the uniformed services as wages for retirement plan purposes; (4) make permanent the exemption from the 10% penalty for premature retirement plan distributions made by active duty military personnel; (5) treat state payments to members of the uniformed services as qualified military benefits for purposes of the tax exclusion of such benefits; (6) make permanent [...] show full description S.1322 - A bill to amend the Internal Revenue Code of 1986 to improve the operation of employee stock ownership plans, and for other purposes.
Latest Action: 05/07/2007 - Read twice and referred to the Committee on Finance. Bill Text A bill to amend the Internal Revenue Code of 1986 to improve the operation of employee stock ownership plans, and for other purposes. 5/7/2007--Introduced. Employee Stock Ownership Plan Promotion and Improvement Act of 2007 - Amends the Internal Revenue Code to: (1) exempt certain distributions, including dividends, by S corporations to an employee stock ownership plan (ESOP) from the penalty tax for premature employee benefit plan withdrawals; (2) exempt deductions for ESOP dividends from corporate alternative minimum tax adjustments based on adjusted earnings and profits; (3) allow deferral of the recognition of gain for certain sales to ESOPs sponsored by any domestic corporation, including S corporations; (4) allow reinvestment of ESOP stock proceeds eligible for nonrecognition of gain in certain mutual funds; (5) modify certain ESOP stock ownership rules; and (6) allow a de minimis exception from pension plan investment diversification requirements for ESOP accounts [...] show full description S.1273 - A bill to amend the Internal Revenue Code of 1986 to allow permanent look-through treatment of payments between related foreign corporations.
Latest Action: 05/02/2007 - Sponsor introductory remarks on measure. (CR S5507-5508) Bill Text A bill to amend the Internal Revenue Code of 1986 to allow permanent look-through treatment of payments between related foreign corporations. 5/2/2007--Introduced.
Amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income). S.940 - A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.
Latest Action: 03/20/2007 - Sponsor introductory remarks on measure. (CR S3391) Bill Text A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income. 3/20/2007--Introduced. Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas. H.R.1509 - To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.
Latest Action: 03/13/2007 - Sponsor introductory remarks on measure. (CR E530) Bill Text To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income. 3/13/2007--Introduced. Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas. S.554 - A bill to reduce the Federal budget deficit, and for other purposes.
Latest Action: 02/12/2007 - Sponsor introductory remarks on measure. (CR S1855-1857) Bill Text A bill to reduce the Federal budget deficit, and for other purposes. 2/12/2007--Introduced. Act for Our Kids - Repeals the Television Broadcasting to Cuba Act. Amends the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 to prohibit federal funding of television broadcasting to Cuba. Terminates the U.S. Court of Federal Claims. Requires federal agencies to reduce administrative expenses. Eliminates the Medicare Advantage Regional Plan Stabilization (SLUSH) Fund. Amends the federal criminal code to prohibit profiteering and fraud involving a contract or the provision of goods or services in connection with a war or military action. Requires: (1) suspension and debarment of unethical contractors; (2) disclosure by federal agencies, upon request, to the appropriate committee chairman or ranking member of audit reports regarding federal contractors; and (3) public access to information on federal contractor penalties and [...] show full description S.341 - A bill to restore fairness in the provision of incentives for oil and gas production, and for other purposes.
Latest Action: 01/22/2007 - Read twice and referred to the Committee on Finance. Bill Text A bill to restore fairness in the provision of incentives for oil and gas production, and for other purposes. 1/22/2007--Introduced. Energy Fairness for America Act - Amends the Internal Revenue Code to terminate: (1) the tax deduction for oil and gas intangible drilling and development costs; (2) the percentage depletion allowance for oil and gas wells; and (3) the tax credit for enhanced oil recovery costs. Repeals provisions of the Energy Policy Act of 2005 relating to: (1) oil and gas royalties in-kind; (2) marginal property production incentives; (3) incentives for natural gas production in the Gulf of Mexico; (4) royalty suspension for deep water production; (5) the inventory of Outer Continental Shelf oil and natural gas resources; (6) Alaska offshore royalty suspension; (7) accelerated depreciation of electric transmission property, natural gas distribution lines, and natural gas gathering lines and expensing of liquid fuel refinery property; (8) the exemption [...] show full description H.R.600 - To amend the Internal Revenue Code of 1986 to provide for a deferral of tax on gain from the sale of telecommunications businesses in specific circumstances or a tax credit and other incentives to promote diversity of ownership in telecommunications businesses.
Latest Action: 01/22/2007 - Referred to the House Committee on Ways and Means. Bill Text To amend the Internal Revenue Code of 1986 to provide for a deferral of tax on gain from the sale of telecommunications businesses in specific circumstances or a tax credit and other incentives to promote diversity of ownership in telecommunications businesses. 1/22/2007--Introduced. Telecommunications Ownership Diversification Act of 2007 - Amends the Internal Revenue Code to allow a taxpayer election to exclude from gross income a portion of the gain from the sale of the assets of a telecommunications business to an eligible purchaser. Defines "eligible purchaser" as: (1) any economically and socially disadvantaged business as designated by the Secretary of the Treasury using specified criteria; or (2) a corporation or partnership which, following the sale of a telecommunications business, owns substantially all of the assets of such business and is at least five percent owned by the Telecommunications Development Fund established under the Communications Act of [...] show full description H.R.586 - To restore fairness in the provision of incentives for oil and gas production, and for other purposes.
Latest Action: 02/07/2007 - Referred to the Subcommittee on Energy and Mineral Resources. Bill Text To restore fairness in the provision of incentives for oil and gas production, and for other purposes. 1/19/2007--Introduced. Energy Fairness for America Act - Amends the Internal Revenue Code to terminate: (1) the tax deduction for oil and gas intangible drilling and development costs; (2) the percentage depletion allowance for oil and gas wells; and (3) the tax credit for enhanced oil recovery costs. Repeals provisions of the Energy Policy Act of 2005 relating to: (1) oil and gas royalties in-kind; (2) marginal property production incentives; (3) incentives for natural gas production in the Gulf of Mexico; (4) royalty suspension for deep water production; (5) the inventory of Outer Continental Shelf oil and natural gas resources; (6) Alaska offshore royalty suspension; (7) accelerated depreciation of electric transmission property, natural gas distribution lines, and natural gas gathering lines and expensing of liquid fuel refinery property; (8) the exemption of small [...] show full description S.349 - An 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.
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 Text An original |
