Armed Forces Deferred Tax Relief Act

Armed Forces Deferred Tax Relief Act

This bill compensates members of the Armed Forces for deferred income taxes withheld between the period of January 1, 2021, and April 30, 2021. Such compensation is not subject to tax.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8690 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 8690

 To direct the Secretary of Defense to compensate members of the Armed 
Forces for certain taxes deferred pursuant to Internal Revenue Service 
                            Notice 2020-65.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 27, 2020

 Mr. Hastings introduced the following bill; which was referred to the 
 Committee on Armed Services, and in addition to the Committee on Ways 
 and Means, for a period to be subsequently determined by the Speaker, 
 in each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To direct the Secretary of Defense to compensate members of the Armed 
Forces for certain taxes deferred pursuant to Internal Revenue Service 
                            Notice 2020-65.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Armed Forces Deferred Tax Relief 
Act''.

SEC. 2. COMPENSATION OF MEMBERS OF THE ARMED FORCES FOR CERTAIN TAXES 
              DEFERRED PURSUANT TO INTERNAL REVENUE SERVICE NOTICE 
              2020-65.

    In the case of a member of the Armed Forces whose taxes were 
deferred pursuant to Internal Revenue Service Notice 2020-65, if such 
deferred taxes are withheld by the Secretary of Defense during the 
period beginning on January 1, 2021, and ending on April 30, 2021, the 
Secretary shall (contemporaneous with such withholding) make a payment 
to such member in an amount equal to the deferred tax so withheld. Any 
payment under this section shall be excluded from gross income of the 
member and exempt from taxation under any provision of Federal law.
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