S. 1749 — A bill to amend the Internal Revenue Code of 1954 with respect to the deductibility of certain payments to officials and employees of foreign governments.

Summary

Amends the Internal Revenue Code to deny a tax deduction of payments to officials and employees of foreign governments only if such payments would be unlawful under the Foreign Corrupt Practices Act of 1977 (currently such payments are not deductible if the payment would violate any of the laws of the United States.).

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Legislative Actions

1981-10-19
Introduced in Senate
1981-10-19
Read second time and referred to Senate Committee on Finance.
1981-10-20
Committee on Finance requested executive comment from OMB; Treasury Department.
1981-11-06
Subcommittee on Taxation and Debt Management took the following actions.
1981-11-06
Subcommittee on Taxation and Debt Management. Hearings held.

A bill to amend the Internal Revenue Code of 1954 with respect to the deductibility of certain payments to officials and employees of foreign governments.

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