A bill to amend the Internal Revenue Code of 1954 to deny all deductions and credits in connection with carrying on illegal drug or other business activity if the taxpayer is convicted of a Federal felony for engaging in such activity.

Amends the Internal Revenue Code to disallow either an income tax deduction or credit for expenditures made in connection with the illegal sale of drugs or in connection with other business activities for which a taxpayer is convicted of a Federal felony.