Search Results: keywords:"charitable contributions"

  • H. R. 1432 — An Act To amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces.
    Status:Received in Senate
    Words:290

    H. R. 1432, known as the "VSO Equal Tax Treatment Act" or the "VETT Act", aims to amend the Internal Revenue Code of 1986. This bill allows charitable contributions to certain organizations for members of the Armed Forces, specifically those described in...

    Simple Explanation

    H. R. 1432, the VETT Act, is like a special rule that lets people give money to certain groups that help soldiers and get a "thank you" from the government by paying a little less in taxes. But some parts aren't very clear about who exactly can get this special help, making it a bit confusing.

  • H. R. 1432 — To amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces.
    Status:Reported in House
    Words:572

    H.R. 1432 proposes an amendment to the Internal Revenue Code, allowing charitable contributions made to specific organizations linked to the Armed Forces to be tax-deductible. The bill targets organizations that meet the criteria outlined under section 501(c)(19) of the...

    Simple Explanation

    Imagine a new rule that says if someone gives money to special groups that help people in the military, they can pay a little less on their taxes. This rule only works for certain big groups that are approved by the government.

  • H. R. 10203 — To provide tax relief for damages relating to Hurricanes Helene and Milton.
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    Status:Introduced in House
    Words:4,192

    H. R. 10203, also known as the "Hurricane Helene and Milton Tax Relief Act of 2024," aims to provide specific tax relief to people affected by Hurricanes Helene and Milton. The bill allows individuals in disaster areas to calculate their earned income tax credit based on...

    Simple Explanation

    H. R. 10203 is a plan to help people who were affected by two big storms, Hurricane Helene and Hurricane Milton, by letting them pay less in taxes. It allows them to use last year's income to get more money back from taxes, give more to help others without paying extra taxes, and use their savings for emergencies without any penalties.

  • S. 3616 — To require additional disclosures relating to donations to the Presidential Inaugural Committee, and for other purposes.
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    Status:Introduced in Senate
    Words:858

    S. 3616, known as the "Inaugural Committee Transparency Act of 2024," aims to enhance transparency in donations to the Presidential Inaugural Committee. It requires the disclosure of any disbursements equal to or greater than $200, including details such as the recipient's name, address, and...

    Simple Explanation

    The "Inaugural Committee Transparency Act of 2024" is a rule that says when people give money to help with the big party when a new President starts the job, they have to tell everyone about it, especially if it's a lot of money. It also says they can't use the money for themselves and have to give leftover money to help others.

  • H. R. 9081 — To provide for emergency tax relief for taxpayers affected by the severe storms, flooding, straight-line winds, and tornadoes in certain Iowa counties.
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    Status:Introduced in House
    Words:3,244

    H. R. 9081 is a bill proposed in the 118th Congress to offer emergency tax relief to individuals impacted by severe storms, flooding, winds, and tornadoes in certain Iowa counties. It allows affected residents to make tax-favored withdrawals from their retirement plans,...

    Simple Explanation

    H. R. 9081 is a proposed bill that helps people in certain parts of Iowa affected by bad weather, like storms and tornadoes, by letting them use money from their piggy bank (retirement funds) without the usual extra costs and by making it easier for them to give money to help others.