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S 3095 98th Congress Senate Taxation Capital gains tax Debt Income tax Minimum tax

A bill relating to alternative minimum tax relief for certain insolvent tax payers.

Introduced: October 11, 1984 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 16, 1984
Committee on Finance requested executive comment from OMB, Treasury Department.
Oct 11, 1984
Read twice and referred to the Committee on Finance.
Oct 11, 1984
Introduced in Senate
 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to provide that for purposes of the alternative minimum tax, any gain or loss from the transfer of property to a creditor in cancellation of a debt or from the sale or exchange of property under threat of foreclosure shall not be taken into account in computing net capital gain if prior to such sale or exchange the taxpayer is insolvent.

What's happening now October 16, 1984

Committee on Finance requested executive comment from OMB, Treasury Department.

 Committees of jurisdiction 1