Search Results for keywords:"dependents exclusion"

Search Results: keywords:"dependents exclusion"

H. R. 2089 — To amend the Internal Revenue Code of 1986 to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies.
March 11, 2025
Status:Introduced in House
Congress:119
Words:810
H.R. 2089 aims to change the Internal Revenue Code to allow individuals to delay paying taxes on capital gains from mutual funds, as long as those gains are reinvested in additional shares of the mutual fund. This deferral ends when the individual sells the shares, redeems...
Simple Explanation
H.R. 2089 is a plan to let people wait on paying taxes on money they earn from investments in certain funds if they use that money to buy more shares in the same fund. But when they sell the shares or pass away, they will need to pay the taxes then.
H. R. 615 — To amend the Internal Revenue Code of 1986 to establish a refundable tax credit for individuals for amounts paid for gas and electricity for primary residences.
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January 22, 2025
Status:Introduced in House
Congress:119
Words:842
H.R. 615 aims to change the Internal Revenue Code of 1986 to introduce a refundable tax credit for individuals who pay for gas and electricity at their primary residences. The bill allows individuals to receive a tax credit of up to $350 per year for qualified energy costs....
Simple Explanation
H.R. 615 wants to give people some money back on their taxes if they pay for gas and electricity at home, but only if they don't earn too much money. It helps a little bit, around $350, to make the energy bills easier to manage for some families.

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