Summary: H.R.4859 — 98th Congress (1983-1984)All Information (Except Text)

There is one summary for H.R.4859. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (02/09/1984)

Amends the Internal Revenue Code to exclude from the gross income of a physicians' and surgeons' mutual protection and indemnity association any initial payment made by a member upon joining such an association provided that the member does not elect to claim an income tax deduction for such payment.

Allows a member of such an association to elect to claim an income tax deduction as a business expense any initial payment made to the association. Limits the amount of such deduction to an amount which would be payable to an independent insurance company for medical malpractice insurance.