Summary: H.R.5048 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.5048. Bill summaries are authored by CRS.

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Introduced in House (04/30/1992)

Amends the Internal Revenue Code to increase from $1,000 to $5,000 the amount of proceeds from certain gambling that is exempt from income tax withholding. (Currently, only proceeds from State-conducted lotteries are exempt up to such amount.)