Summary: H.R.4340 — 97th Congress (1981-1982)All Information (Except Text)

There is one summary for H.R.4340. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (07/30/1981)

Amends the Internal Revenue Code to allow an unrestricted deduction of amounts paid for health insurance.

Allows self-employed individual taxpayers an income tax deduction for one-half of the social security tax on self- employed income.

Provides for a limited income tax deduction for amounts paid by an individual for term life insurance.

Extends these deductions to taxpayers who do not itemize income tax deductions.