Armed Forces Deferred Tax Relief Act

H.R. 8690 · 116th Congress · Oct 27, 2020 · Lineage

A BILL

To direct the Secretary of Defense to compensate members of the Armed Forces for certain taxes deferred pursuant to Internal Revenue Service Notice 2020–65.

1. Short title

This Act may be cited as the “Armed Forces Deferred Tax Relief Act”.

2. Compensation of members of the Armed Forces for certain taxes deferred pursuant to Internal Revenue Service Notice 2020–65

In the case of a member of the Armed Forces whose taxes were deferred pursuant to Internal Revenue Service Notice 2020–65, if such deferred taxes are withheld by the Secretary of Defense during the period beginning on January 1, 2021, and ending on April 30, 2021, the Secretary shall (contemporaneous with such withholding) make a payment to such member in an amount equal to the deferred tax so withheld. Any payment under this section shall be excluded from gross income of the member and exempt from taxation under any provision of Federal law.

Lineage

Oct 27, 2020viewing Introduced in House Mr. Hastings introduced the following bill; which was referred to the Committee on Armed Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

Armed Forces Deferred Tax Relief Act

1. Short title

2. Compensation of members of the Armed Forces for certain taxes deferred pursuant to Internal Revenue Service Notice 2020–65

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