Summary: S.2985 — 97th Congress (1981-1982)All Information (Except Text)

There is one summary for S.2985. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (09/30/1982)

Amends the Internal Revenue Code to provide that in the case of accrual method taxpayers: (1) a debt owed to the taxpayer shall not be included in the income of such taxpayer and (2) a debt owed by the taxpayer shall not be deductible from the income of such taxpayer unless such debt is enforceable under the laws of the State in which it was incurred or unless such debt is paid.