Search Results: keywords:"tax code"

  • H. R. 8268 — To amend the Internal Revenue Code of 1986 to modify the rules relating to inverted corporations.
    Status:Introduced in House
    Words:1,332

    H.R. 8268, known as the “Stop Corporate Inversions Act of 2024,” aims to change how the U.S. tax code treats certain foreign corporations. It proposes that if a foreign corporation acquires a significant portion of a U.S. company's assets and meets specific conditions, it would be treated as...

    Simple Explanation

    The bill wants to make sure that if a company from another country buys a big part of an American company and does a lot of business in the U.S., it has to pay U.S. taxes just like an American company, to stop companies from avoiding paying taxes.

  • H. R. 9837 — To exclude from gross income certain emergency assistance provided to farmers.
    Status:Introduced in House
    Words:295

    H. R. 9837 is a bill introduced in the House of Representatives that aims to change the tax code to help farmers. Specifically, it would allow certain emergency assistance they receive, like help from programs dealing with natural disasters such as wildfires and hurricanes,...

    Simple Explanation

    In simple words, this bill wants to help farmers by making sure that any emergency money they get when bad things like wildfires or hurricanes happen doesn't count as income they have to pay taxes on, starting in 2024.