H.R.436 - Older Americans' Tax Savings Act94th Congress (1975-1976)
|Sponsor:||Rep. Fish, Hamilton, Jr. [R-NY-25] (Introduced 01/14/1975)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 01/14/1975 Referred to House Committee on Ways and Means. (All Actions)|
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Summary: H.R.436 — 94th Congress (1975-1976)All Information (Except Text)
Introduced in House (01/14/1975)
Older Americans' Tax Savings Act - Allows a reimbursement under the Internal Revenue Code for property taxes to persons 65 and over. Limits such reimbursement to the lesser of $480, or the property taxes accrued, and to claimant whose household income is lower than $5,000.
Requires such reimbursement to be made in 12 monthly installments.
Allows appeals to the Tax Court of denials of claims for such reimbursement.
Disallows an income tax deduction for taxes for which a reimbursement is given.