S 794
112th Congress
Senate
Taxation
Civil actions and liability
Competition and antitrust
Income tax deductions
Income tax exclusion
Life, casualty, property insurance
Protecting American Taxpayers from Misconduct Act
Introduced: April 12, 2011
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 12, 2011
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2395)
Apr 12, 2011
Sponsor introductory remarks on measure. (CR S2395)
Apr 12, 2011
Introduced in Senate
Plain-English summary
Protecting American Taxpayers from Misconduct Act - Amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action; and (2) include any amount paid as punitive damages in gross income for income tax purposes.
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2395)
Committees of jurisdiction
1
Cosponsors
1