H.R. 12532 — A bill to amend the Internal Revenue Code of 1954 to provide that the use of the zero bracket amount will not reduce the benefits of income averaging.

Summary

(Reported to House from the Committee on Ways and Means, H. Rept. 95-1624)

Amends the Internal Revenue Code to provide that the zero bracket amount shall be subtracted from an individual's taxable income when using income averaging in order to tax the averaged income in the same manner, and to the same extent, it was taxed when the standard deduction was used in tax computations.

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Legislative Actions

1978-05-03
Introduced in House
1978-05-03
Introduced in House
1978-05-03
Referred to House Committee on Ways and Means.
1978-09-25
Reported to House from the Committee on Ways and Means, H. Rept. 95-1624.
1978-09-25
Reported to House from the Committee on Ways and Means, H. Rept. 95-1624.
1978-10-10
Measure called up by unanimous consent in House.
1978-10-10
Measure considered in House.
1978-10-10
Passed/agreed to in House: Measure passed House.
1978-10-10
Measure passed House.
1978-10-11
Referred to Senate Committee on Finance.

A bill to amend the Internal Revenue Code of 1954 to provide that the use of the zero bracket amount will not reduce the benefits of income averaging.

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Summary

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