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HR 694 113th Congress House Taxation Corporate finance and management Foreign and international corporations Income tax credits Income tax deferral Oil and gas Tax administration and collection, taxpayers Taxation of foreign income

Corporate Tax Fairness Act

Introduced: February 14, 2013 Introduced by: Schakowsky, Janice D. Democratic · Illinois 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
Feb 14, 2013
Referred to the House Committee on Ways and Means.
Feb 14, 2013
Introduced in House
 Plain-English summary Congressional Research Service

Corporate Tax Fairness Act - Amends the Internal Revenue Code, with respect to the taxation of the foreign-source income of domestic corporations, to: (1) eliminate the deferral of tax on the foreign-source income of U.S. corporations for taxable years beginning after December 31, 2013, (2) deny the foreign tax credit to large integrated oil companies that are dual capacity taxpayers, (3) limit the offset of the foreign tax credit to income that is subject to U.S. tax, and (4) treat foreign corporations managed and controlled in the United States as domestic corporations for U.S. tax purposes.

What's happening now February 14, 2013

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1