Search Results: keywords:"taxpayers"

  • H. R. 9361 — To amend the Internal Revenue Code of 1986 to repeal the upper age limit on eligibility for the earned income tax credit.
    Status:Introduced in House
    Words:222

    H.R. 9361 is a proposed law aimed at changing the existing laws around the earned income tax credit (EITC) in the United States. Specifically, it seeks to remove the age cap, currently set at 65, which limits who can qualify for the EITC based on age. This means that...

    Simple Explanation

    H.R. 9361 is a plan to let people older than 65 qualify for a special money help called the earned income tax credit (EITC), starting from 2025. This means more older people could get extra money if they work and earn less.

  • H. R. 111 — To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for health insurance premiums.
    Status:Introduced in House
    Words:408

    H.R. 111 proposes changes to the Internal Revenue Code of 1986 to allow individuals to deduct the cost of health insurance premiums from their taxable income, even if they do not itemize other deductions. The bill outlines that this deduction is for the taxpayer, their...

    Simple Explanation

    H.R. 111 is a plan that would let people pay less in taxes by allowing them to subtract the money they spend on health insurance from their income, even if they don't usually itemize deductions. This change is meant to make paying for health insurance easier and would start in 2025.