HR 265 · 100th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to simplify certain requirements regarding withholding and reporting at the source and to correct inequities regarding carryover of losses.

Introduced 1987-01-06· Sponsored by Rep. Vucanovich, Barbara F. [R-NV-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1987-01-06)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to repeal the withholding tax requirements with respect to gambling winnings. Requires information returns for gambling winnings only for payments of $10,000 or more. Provides a three-year carryover and carryback for net gambling losses.…

Summarized by Claude AI · Non-partisan · For informational purposes only