A bill to amend the Internal Revenue Code of 1954 to increase the maximum amounts allowable as a deduction for contributions to retirement plans for self-employed individuals and to simplified employee pensions and to provide an inflation adjustment for such amounts.
Self-Employed Individuals Retirement Tax Amendments of 1980 - Amends the Internal Revenue Code to increase the maximum amount of the income tax deduction for contributions to simplified employee pension plans and to retirement plans for self-employed individuals from $7,500 to $12,500 or $12,500 plus an inflation adjustment factor.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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