HR 7409 · 96th Congress · Taxation
A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the interest and dividends on deposits in savings institutions.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1980-05-21)
Plain Language Summary
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Amends the Internal Revenue Code to exclude from the gross income of individual taxpayers up to $1,000 ($1,800 in the case of a joint return) of interest income earned on deposits in certain financial institutions.…
Summarized by Claude AI · Non-partisan · For informational purposes only