HR 15820 · 93th Congress · Interest

A bill to amend the Internal Revenue Code of 1954 to allow an individual to take the deduction for penalties incurred because of the premature withdrawal of funds from time savings accounts or deposits in banks or other savings institutions whether or not the individual itemizes his deductions.

Introduced 1974-07-10· Sponsored by Rep. Broyhill, Joel T. [R-VA-10]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-07-10)

Plain Language Summary

[AI summary unavailable — showing source text] Allows, under the Internal Revenue Code, an individual to take the deduction for penalties incurred because of the premature withdrawal of funds from time savings accounts or deposits in banks or other savings institutions whether or not the individual itemizes his deductions.…

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