S.2816 - Foreign and Armed Services Tax Fairness Act of 2002107th Congress (2001-2002)
||Sen. Baucus, Max [D-MT] (Introduced 07/29/2002)
||Senate - Finance
||07/29/2002 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7499-7500) (All Actions)
This bill has the status Introduced
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Introduced in Senate (07/29/2002)
Foreign and Armed Forces Tax Fairness Act of 2002 - Amends the Internal Revenue Code to: (1) restore the full exclusion from gross income of the death gratuity payment; (2) permit a suspension of residency rules governing the exclusion of gain from sale of a principal residence for members of the uniformed services or the Foreign Service serving on qualified official extended duty; (3) exclude from gross income qualified military base realignment and closure fringe benefits; (4) extend tax filing delay provisions to military personnel serving in contingency operations; (5) allow as a business or trade deduction the expenses of a member of the reserve component of the U.S. armed forces in connection with such service (available to itemizers and non-itemizers); (6) include ancestors and lineal descendants of past or present members of the armed forces when determining whether a veterans' organization is exempt from tax; and (7) fully exclude from gross income certain dependent care assistance programs sponsored by the Department of Defense.