Search Results for keywords:"tax amendment"

Search Results: keywords:"tax amendment"

H. R. 6938 — To amend the Internal Revenue Code of 1986 to reinstate the deduction for personal casualty losses as in effect prior to the enactment of Public Law 115–97 (commonly referred to as the Tax Cuts and Jobs Act).
January 10, 2024
Status:Introduced in House
Congress:118
Words:468
H.R. 6938 aims to amend the Internal Revenue Code of 1986 to bring back the deduction for personal casualty losses, which was removed by the Tax Cuts and Jobs Act. The bill would allow taxpayers to claim casualty loss deductions on returns for tax years starting after...
Simple Explanation
In a bill called H.R. 6938, Congress wants to let people count certain bad things that happened to them, like a house getting damaged in a storm, on their taxes to help them pay less. This was allowed before but got taken away, and now they want to bring it back so people can fix their old taxes and maybe get some money back.
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.
January 18, 2024
Status:Reported in House
Congress:118
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. 10104 — To amend the Internal Revenue Code of 1986 to prevent a double benefit with respect to second generation biofuels under the clean fuel production credit and the alcohol fuels credit and to extend the application of alcohol fuels credit with respect to such biofuels.
November 08, 2024
Status:Introduced in House
Congress:118
Words:366
H. R. 10104 is a bill introduced in the House of Representatives aimed at amending the Internal Revenue Code of 1986. The purpose of the bill is to prevent double benefits for second generation biofuels by ensuring that these fuels cannot receive both the clean fuel...
Simple Explanation
The bill wants to make sure that special cars running on certain plant-based fuels don't get two treats when they should only get one. It also gives these special fuels a longer time to enjoy their treats.
H. R. 7418 — To amend the Internal Revenue Code of 1986 to exclude from gross income certain compensation to clinical trial participants.
February 20, 2024
Status:Introduced in House
Congress:118
Words:443
H.R. 7418 proposes an amendment to the Internal Revenue Code of 1986 to ensure that money received by individuals as compensation for participating in clinical trials is not counted as part of their gross income for tax purposes. This includes payments made directly to...
Simple Explanation
H.R. 7418 is like a rule that says when people get paid for helping scientists by being part of clinical trials, they don't have to pay extra money to the government from that payment. This rule helps them save some of their money if they joined after the end of 2023.
H. R. 6772 — To amend the Internal Revenue Code of 1986 to reduce the age for making catch-up contributions to retirement accounts to take into account time out of the workforce to provide dependent care services.
December 13, 2023
Status:Introduced in House
Congress:118
Words:877
H. R. 6772 aims to amend the Internal Revenue Code to allow individuals who have taken time away from work to provide care for dependents to make retirement account catch-up contributions at a younger age than currently allowed. The bill defines an "eligible individual" as...
Simple Explanation
H. R. 6772 is a bill that wants to let people who take time away from their jobs to care for family members save more money for when they're older and not working. It lets them start saving extra money earlier because they missed work to help take care of others.
S. 4014 — To amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income.
March 21, 2024
Status:Introduced in Senate
Congress:118
Words:254
S. 4014, introduced by Ms. Cortez Masto in the Senate, aims to amend the Internal Revenue Code of 1986. The bill proposes that income earned by a regulated investment company from precious metals should be considered qualifying income, similar to income from various...
Simple Explanation
S. 4014 is a plan from Congress that wants to change the rules so that when some companies make money from things like gold or silver, it counts as special income that can get them certain benefits, just like if they made money from cash.
H. R. 7470 — To amend the Internal Revenue Code of 1986 to treat spaceports like airports for purposes of exempt facility bond rules.
February 28, 2024
Status:Introduced in House
Congress:118
Words:926
H.R. 7470 is a bill that aims to amend the Internal Revenue Code to treat spaceports similarly to airports concerning rules for exempt facility bonds. The bill defines a spaceport as a facility near a launch or reentry site that is used for various space-related activities,...
Simple Explanation
H.R. 7470 is a bill that wants to treat spaceports, where spaceships take off and land, just like airports when it comes to special money rules. This means that these spaceports can get some financial help without having to be open for everyone to use.
S. 4730 — To amend the Internal Revenue Code of 1986 to extend the energy credit with respect to electrochromic glass.
July 23, 2024
Status:Introduced in Senate
Congress:118
Words:365
S. 4730, titled the “Dynamic Glass 2.0 Act,” seeks to amend the Internal Revenue Code of 1986. The bill proposes to extend the energy credit for electrochromic glass, which uses electricity to adjust its light transmission to help heat or cool a building. The amendment sets...
Simple Explanation
S. 4730 is a bill that wants to give more time for special glass called electrochromic glass, which can change how much light it lets in to help keep buildings warm or cool, to get a tax break. For this plan to work, people need to start building with this glass before 2033.

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