Tax Policy Review Act

[AI summary unavailable — showing source text] Tax Policy Review Act - Title I: Provisions to Terminate on January 1, 1975 - Provides that the following provisions of the Internal Revenue Code of 1954 shall terminate on January 1, 1975: (1) the $30,000 exemption and deduction of regular income taxes for the minimum tax on tax preferences, (2) treatment of group-term life insurance purchased for employees, (3) exclusion from gross income of $5,000 employee's death benefit, (4) exemption from tax of $100 of dividends received by individuals, (5) treatment of loss from certain nonbusiness guaranties, (6) twenty-percent variation under the asset depreciation range system, (7) capital gain treatment for lump-sum distribution from pension funds, (8) treatment of employee stock options, (9) tax exemption of credit unions and mutual insurance funds for certain financial institutions, (10) treatment of bad debt reserves of banks and other financial institutions, (11) percentage depletion for oil, gas, and other minerals, (12) capital gain for timber, coal, and iron ore royalties, (13) exclusion of gross-up on dividends of less developed countries corporations, (14) exemption of earned income from foreign sources, (15) alternative tax on…