Armed Forces Deferred Tax Relief Act

Bill: 116-hr-8690
Sponsor: full_name: Rep. Hastings, Alcee L. [D-FL-20]
Introduced: 2020-10-27
Policy area: Armed Forces and National Security
Subjects: Employment taxes

Income tax deferral

Military personnel and dependents

Tax administration and collection, taxpayers

Wages and earnings
Latest action: action_date: 2020-10-27
text: Referred to the Committee on Armed Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Summaries:
action_date: 2020-10-27
action_desc: Introduced in House
text: <p><b>Armed Forces Deferred Tax Relief Act</b></p> <p>This bill compensates members of the Armed Forces for deferred income taxes withheld between the period of January 1, 2021, and April 30, 2021. Such compensation is not subject to tax.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 8690 IN THE HOUSE OF REPRESENTATIVES October 27, 2020 Mr. Hastings introduced the following bill; which was referred to the Committee on Armed Services , and in addition to the Committee on Ways and Means , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To direct the Secretary of Defense to compensate members of the Armed Forces for certain taxes deferred pursuant to Internal Revenue Service Notice 2020–65.

1. Short title This Act may be cited as the Armed Forces Deferred Tax Relief Act . 2. Compensation of members of the Armed Forces for certain taxes deferred pursuant to Internal Revenue Service Notice 2020–65 In the case of a member of the Armed Forces whose taxes were deferred pursuant to Internal Revenue Service Notice 2020–65, if such deferred taxes are withheld by the Secretary of Defense during the period beginning on January 1, 2021, and ending on April 30, 2021, the Secretary shall (contemporaneous with such withholding) make a payment to such member in an amount equal to the deferred tax so withheld. Any payment under this section shall be excluded from gross income of the member and exempt from taxation under any provision of Federal law.