HR 7126 · 97th Congress · Taxation
A bill to repeal the withholding on interest, dividends, and patronage dividends enacted by the Tax Equity and Fiscal Responsibility Act of 1982 and to require, in lieu of such withholding, the Secretary of the Treasury to use existing information returns to ensure that the proper amount of tax is collected with respect to interest, dividends, and patronage dividends.
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1982-09-16)
Plain Language Summary
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Amends the Tax Equity and Fiscal Responsibility Act of 1982 to repeal provisions which require the withholding of tax on interest and dividends. Directs the Secretary of the Treasury to ensure tax collection on such income by matching information returns with individual income tax returns.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (8)
1 Democrat7 Republicans