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HR 2950 109th Congress House Taxation Adoption Capital gains tax Charitable contributions College costs Commerce Cost of living adjustments Costs Day care Disabled Economics and Public Finance Education Employee stock options Families Finance and Financial Sector Higher education Income Income tax Indexing (Economic policy) Labor and Employment

Individual Tax Simplification Act of 2005

Introduced: June 16, 2005 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 22, 2005
Sponsor introductory remarks on measure. (CR H4904)
Jun 16, 2005
Referred to the House Committee on Ways and Means.
Jun 16, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Individual Tax Simplification Act of 2005 - Revises provisions of the Internal Revenue Code pertaining to: (1) the alternative minimum tax; (2) the phaseout of the tax credits for adoption expenses, child care, and educational assistance based on modified adjusted gross income; and (3) the capital gains tax.

Repeals, after 2005: (1) the overall limitation on itemized tax deductions; (2) the phaseout of personal tax exemptions; and (3) the alternative minimum tax on individuals.

Imposes an additional income tax on adjusted gross incomes exceeding certain threshold levels to ensure the revenue neutrality of this Act.

What's happening now June 22, 2005

Sponsor introductory remarks on measure. (CR H4904)

 Committees of jurisdiction 1