To amend the Internal Revenue Code of 1986 to provide that the deduction for certain attorney fees shall be fully allowable in computing both taxable income and alternative minimum taxable income.
About This Bill
Committee
Latest Action · October 7, 2005
Referred to the House Committee on Ways and Means.
Amends the Internal Revenue Code to exempt from the limitation on miscellaneous itemized tax deductions (i.e., only expenses in excess of two percent of adjusted gross income are deductible) any deduction for attorney fees paid by or on behalf of a taxpayer in connection with damages from a lawsuit or settlement agreement received by such taxpayer.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.