To amend the Internal Revenue Code of 1986 to exclude from gross income any interest paid on an overpayment of tax.
Freeing Americans from Interest on Reimbursements Act or the FAIR Act
This bill excludes from gross income, for income tax purposes, any interest allowed and paid upon a tax refund amount.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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