HR 1541
97th Congress
House
Taxation
Corporations and Stocks
Dividends
Finance and Financial Sector
Income tax
Interest
Securities and Investments
Social Welfare
Stocks
Tax exclusion
A bill to amend the Internal Revenue Code of 1954 to increase the amount of dividends and interest which are excluded from gross income, and to make such exclusion permanent.
Introduced: February 2, 1981
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 4, 1981
See H.R.4242.
Feb 2, 1981
Referred to House Committee on Ways and Means.
Feb 2, 1981
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to increase to $1,000 ($2,000 in the case of a joint return) the amount of interest and dividend income which may be excluded from gross income. Increases such exclusion to $5,000 ($10,000 in the case of a joint return) for individuals who are 65.
Amends the Crude Oil Windfall Profit Tax Act of 1980 to repeal the termination date for such exclusion.
What's happening now
See H.R.4242.
Committees of jurisdiction
1
Cosponsors
1