S 4218
117th Congress
Senate
Taxation
Bank accounts, deposits, capital
Belarus
Conflicts and wars
Congressional oversight
Employee benefits and pensions
Europe
Foreign and international banking
Foreign and international corporations
Income tax credits
Income tax deductions
Income tax exclusion
Interest, dividends, interest rates
International law and treaties
Military operations and strategy
Russia
Sales and excise taxes
Securities
Tax administration and collection, taxpayers
Taxation of foreign income
Support Ukraine Through Our Tax Code Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 12, 2022
Read twice and referred to the Committee on Finance.
May 12, 2022
Introduced in Senate
Plain-English summary
Support Ukraine Through Our Tax Code Act
This bill denies the foreign tax credit and the tax deduction for income, war profits, and excess profits taxes paid to Russia and Belarus.
The bill also denies certain other tax benefits in connection with the invasion of Ukraine, including any tax treaty benefits and exemptions from withholding requirements.
The bill suspends tax information exchanges for Russia and Belarus under a tax treaty or an intergovernmental agreement during the period of the Ukraine invasion.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1