Search Results: keywords:"alternative minimum tax relief"

  • S. 479 — To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes.
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    Status:Introduced in Senate
    Words:659

    S. 479 aims to amend the Internal Revenue Code of 1986 to make the new markets tax credit permanent. This bill not only extends the tax credit beyond 2025 but also includes an adjustment for inflation starting in 2026. Additionally, it offers relief from the alternative...

    Simple Explanation

    The bill S. 479 wants to make sure a special kind of tax help, called the new markets tax credit, never runs out and even grows bigger every year because of rising prices. This is like giving businesses a money boost to keep helping them build and grow in new areas.

  • H. R. 1103 — To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes.
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    Status:Introduced in House
    Words:693

    H.R. 1103 aims to make the new markets tax credit a permanent feature of the tax code by updating the Internal Revenue Code of 1986. The bill ensures that the tax credit is available every year starting in 2020 and adjusts the credit for inflation starting in 2025. It also...

    Simple Explanation

    H.R. 1103 wants to make sure a special tax credit that helps businesses invest in certain communities stays around forever and grows a little each year to keep up with rising costs, starting in 2025. It also gives special tax help to new investments starting in 2025, but some people think this might not be fair to everyone.