Search Results: keywords:"federal income tax exemption"

  • S. 1108 — To amend the Internal Revenue Code of 1986 to exclude all military retirement and related benefits from Federal income tax.
    Status:Introduced in Senate
    Words:836

    S. 1108, titled the "Tax Cuts for Veterans Act of 2025," aims to amend the Internal Revenue Code of 1986 to exempt military retirement and related benefits from federal income tax. Specifically, it proposes that all retired pay, pensions, and similar allowances for members or...

    Simple Explanation

    S. 1108 wants to change the rules so that when people who used to be in the military receive money after they stop working, they don't have to give any of that money to the government as taxes. This means all their retirement money from being in the military would not be taxed anymore.

  • S. 4806 — To exclude certain amounts relating to compensating victims of the Texas Panhandle fires, and for other purposes.
    Status:Introduced in Senate
    Words:708

    S. 4806 aims to assist victims of wildfires in the Texas Panhandle by treating funds received as disaster relief payments under the tax code, making these payments exempt from federal income tax. The bill also allows for flexibility in tax treatment for livestock sales forced...

    Simple Explanation

    S. 4806 is a law to help people who lost things in big fires in Texas, saying that the help money they get won't be taxed, and it makes special rules for people who had to sell animals because of the fires.

  • H. R. 9254 — To amend the Internal Revenue Code of 1986 to exclude from gross income any judgments, awards, and settlements with respect to sexual assault or sexual harassment claims, and for other purposes.
    Status:Introduced in House
    Words:811

    H.R. 9254, titled the "Tax Fairness for Survivors Act," aims to modify the Internal Revenue Code of 1986 to exclude any income from judgments, awards, or settlements related to sexual assault or sexual harassment claims from being taxed as gross income. The bill specifies that amounts...

    Simple Explanation

    H.R. 9254 is a bill that wants to make sure people who win money from court cases about bad behavior, like being hurt or treated unfairly by others, don't have to pay certain types of taxes on that money. This means if someone gets money because someone did something wrong to them, they might not have to give some of it to the government.