S. 4525 · 116th Congress
A bill to ensure that health care providers do not incur additional Federal income tax liability due to…
Full title
A bill to ensure that health care providers do not incur additional Federal income tax liability due to receipt of assistance through the Provider Relief Fund during the COVID-19 pandemic.
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BlackburnSponsorNo cosponsors.
This bill affirms that any payment or benefit provided to a taxpayer under the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act due to COVID-19 (i.e., coronavirus disease 2019) shall be excluded from gross income, for income tax purposes.
What it does: CRS summary · Introduced in Senate · Aug 12, 2020
This bill affirms that any payment or benefit provided to a taxpayer under the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act due to COVID-19 (i.e., coronavirus disease 2019) shall be excluded from gross income, for income tax purposes. Additionally, no deduction shall be denied or reduced, no tax attribute shall be reduced, and no basis increase shall be denied resulting from such exclusion.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to ensure that health care providers do not incur additional Federal income tax liability due to receipt of assistance through the Provider Relief Fund during the COVID-19 pandemic.
Latest action (Aug 12, 2020): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Aug 12, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.