H.R. 6700 · 112th Congress
Stop Deducting Damages Act of 2012
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WelchSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Stop Deducting Damages Act of 2012 - Amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action; and (2) include any amount paid as punitive damages in gross income for income tax purposes.
What it does: CRS summary · Introduced in House · Dec 20, 2012
Stop Deducting Damages Act of 2012 - Amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action; and (2) include any amount paid as punitive damages in gross income for income tax purposes.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Stop Deducting Damages Act of 2012
Latest action (Dec 20, 2012): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Dec 20, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.