A bill to repeal the withholding of tax from interest and dividends, to require statements to be filed by the taxpayer with respect to interest, dividends, and patronage dividends, and to advance by two years the effective date for the partial exclusion of interest.
Small Savers and Investors Regulatory Relief and Incentive Act of 1983 - Amends the Tax Equity and Fiscal Responsibility Act of 1982 to repeal provisions which require the withholding of tax on interest and dividends.
Requires taxpayers to file information returns and statements on the interest, dividends, and patronage dividends they receive.
Amends the Economic Recovery Tax Act of 1981 to provide that the partial tax exclusion of interest income which was to take effect in 1985 shall take effect in 1983.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB, Treasury Department.
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