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HR 2710 112th Congress House Taxation Capital gains tax Income tax deductions Income tax exclusion Income tax rates Interest, dividends, interest rates

Fair and Impartial Reform Tax Act of 2011

Introduced: July 29, 2011 Introduced by: Tonko, Paul Democratic · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2011
Referred to the House Committee on Ways and Means.
Jul 29, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Fair and Impartial Reform Tax Act of 2011 - Amends the Internal Revenue Code to: (1) revise income tax rates for individuals and increase such rates for taxpayers with adjusted gross incomes in excess of $500,000, (2) impose limits on and phaseouts of personal exemptions and itemized deductions for high income taxpayers, (3) increase the tax rate on net capital gains and dividend income, and (4) increase the alternative minimum tax (AMT) on the net capital gains of noncorporate taxpayers for taxable years beginning after 2011.

Makes the general terminating date of the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) (i.e., December 31, 2012) applicable to the amendments made by this Act.

What's happening now July 29, 2011

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1