To amend the Internal Revenue Code of 1986 to deny a deduction for the portion of employer-provided vacation flights in excess of the amount of such flights which is treated as employee compensation.
Corporate Jet Tax Shelter Reform Act of 2004 - Amends the Internal Revenue Code to limit the tax deduction allowable for employer-provider aircraft flights to the expenses for goods, services, and facilities relating to such aircraft which are treated as employee compensation and wages. Dedicates any increase in Federal receipts resulting from this Act solely to reduction of the public debt.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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