Summary: S.540 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for S.540. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/15/2001)

Reserve Component Tax Assistance Act of 2001 - Amends the Internal Revenue Code to 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. Makes such deduction available to itemizers and non-itemizers.

Establishes related reserve component business-related employment and self-employment credits.