Search Results for keywords:"tax code amendments"

Search Results: keywords:"tax code amendments"

H. R. 9838 — To amend the Internal Revenue Code of 1986 to provide for an end date for the credit for certain qualified carbon oxide, and for other purposes.
September 25, 2024
Status:Introduced in House
Congress:118
Words:629
H.R. 9838, also known as the “End Polluter Welfare for Enhanced Oil Recovery Act of 2024,” seeks to amend the Internal Revenue Code of 1986. The bill proposes to eliminate the use of carbon oxide as a tertiary injectant for any project started after its enactment. Additionally, it aims to...
Simple Explanation
The bill wants to stop giving special money rewards to companies that use a certain type of gas to get more oil from the ground, starting after the bill becomes law. It changes some tax rules, which could make it harder for those companies to get extra money help.
S. 4771 — To amend the Internal Revenue Code of 1986 to expand eligibility for health savings accounts, and for other purposes.
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July 25, 2024
Status:Introduced in Senate
Congress:118
Words:879
S. 4771 proposes changes to the Internal Revenue Code of 1986 to make more people eligible for Health Savings Accounts (HSAs). Currently, only those with high deductible health plans can have HSAs, but the bill changes that to include anyone with any health insurance....
Simple Explanation
S. 4771 is a bill that wants to let more people use special savings accounts to save money for medical expenses, even if they don't have a specific kind of insurance. It also wants people to be able to save more money each year in these accounts.
H. R. 9256 — To amend the Internal Revenue Code of 1986 to increase and adjust for inflation the above-the-line deduction for teachers.
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August 02, 2024
Status:Introduced in House
Congress:118
Words:256
H. R. 9256 proposes changes to the Internal Revenue Code of 1986, aiming to increase the tax deduction allowed for teachers who purchase classroom supplies out of their own pocket. The bill intends to raise the above-the-line deduction amount from $250 to $1000 and includes...
Simple Explanation
H.R. 9256 is a bill that wants to help teachers by letting them save more money on their taxes when they buy classroom supplies with their own money. It plans to increase the amount they can save from $250 to $1000 and make sure it keeps up with how money changes over time.
H. R. 6833 — To amend the Internal Revenue Code of 1986 to improve and enhance the work opportunity tax credit, to encourage longer-service employment, and to modernize the credit to make it more effective as a hiring incentive for targeted workers, and for other purposes.
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December 14, 2023
Status:Introduced in House
Congress:118
Words:1,146
H.R. 6833 seeks to revise the Internal Revenue Code to enhance the work opportunity tax credit, which aims to provide incentives for hiring specific groups of people. The bill proposes to increase the percentage of wages that can be claimed for this credit, especially for people who work...
Simple Explanation
The bill wants to change how businesses get rewards for hiring certain people, like veterans or those getting special help, by giving them more money back if they do. It's like saying, "If you hire someone who really needs a job and they work longer, you get a bigger thank you from the government."
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.
September 18, 2024
Status:Received in Senate
Congress:118
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. 7993 — To amend the Internal Revenue Code of 1986 to reduce the rate of tax on estates, gifts, and generation-skipping transfers.
April 15, 2024
Status:Introduced in House
Congress:118
Words:736
H.R. 7993, also known as the “Estate Tax Rate Reduction Act,” seeks to amend the Internal Revenue Code of 1986 to lower the tax rate on estates, gifts, and generation-skipping transfers to 20%. The bill proposes changes to several sections of the Code to ensure consistency...
Simple Explanation
H.R. 7993 wants to make it cheaper to pass money or things to other people when someone dies or gives gifts by lowering the tax to 20%, starting from the end of 2022. This bill also says these changes won't appear on some official money records.

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