HR 5251
118th Congress
House
Taxation
To amend the Internal Revenue Code of 1986 to allow a deduction for investment advisory expenses of certain funeral and cemetery trusts during suspension of miscellaneous itemized deductions, and for other purposes.
Introduced: August 22, 2023
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 22, 2023
Referred to the House Committee on Ways and Means.
Aug 22, 2023
Introduced in House
Plain-English summary
This bill allows a tax deduction for the investment advisory expenses of certain funeral trusts and cemetery perpetual care funds during the period in which the allowance of miscellaneous itemized deductions is suspended (i.e., 2018 through 2025).
The bill also revises provisions relating to distributions by cemetery perpetual funds for the care and maintenance of gravesites. The aggregate amount of such distributions may not exceed $25 (adjusted for inflation) multiplied by the aggregate number of such gravesites.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1