Stop Terror-Financing and Tax Penalties on American Hostages Act

12/16/2024, 8:43 PM

Stop Terror-Financing and Tax Penalties on American Hostages Act 

This bill postpones certain tax filing deadlines for U.S. nationals and their spouses who are unlawfully or wrongfully detained abroad or held hostage abroad. It also allows for a refund and abatement of tax penalties and fines paid by detained individuals. 

The bill terminates the tax-exempt status of terrorist supporting organizations. 

 

Bill 118 hr 9495, also known as the Stop Terror-Financing and Tax Penalties on American Hostages Act, is a piece of legislation introduced in the US Congress with the aim of addressing the issue of terror-financing and providing relief to American hostages and their families.

The main objective of this bill is to prevent terrorist organizations from receiving financial support by imposing stricter penalties on individuals or entities found to be financing terrorism. This includes increasing the resources and capabilities of law enforcement agencies to track and prosecute those involved in terror-financing activities.

Additionally, the bill seeks to provide tax relief to American hostages and their families who may face financial burdens as a result of their captivity. This includes exempting them from certain tax penalties and providing them with financial assistance to help cover any expenses incurred during their ordeal. Overall, the Stop Terror-Financing and Tax Penalties on American Hostages Act aims to strengthen national security efforts by targeting the sources of funding for terrorist organizations, while also providing support to American hostages and their families during difficult times.
Congress
118
Number
HR - 9495
Introduced on
2024-09-09
# Amendments
1
Sponsors
+5
Cosponsors
+5

Variations and Revisions

11/8/2024
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
Failed in House
Introduced to Senate
Senate to Vote

Purpose and Summary

Stop Terror-Financing and Tax Penalties on American Hostages Act 

This bill postpones certain tax filing deadlines for U.S. nationals and their spouses who are unlawfully or wrongfully detained abroad or held hostage abroad. It also allows for a refund and abatement of tax penalties and fines paid by detained individuals. 

The bill terminates the tax-exempt status of terrorist supporting organizations. 

 

Bill 118 hr 9495, also known as the Stop Terror-Financing and Tax Penalties on American Hostages Act, is a piece of legislation introduced in the US Congress with the aim of addressing the issue of terror-financing and providing relief to American hostages and their families.

The main objective of this bill is to prevent terrorist organizations from receiving financial support by imposing stricter penalties on individuals or entities found to be financing terrorism. This includes increasing the resources and capabilities of law enforcement agencies to track and prosecute those involved in terror-financing activities.

Additionally, the bill seeks to provide tax relief to American hostages and their families who may face financial burdens as a result of their captivity. This includes exempting them from certain tax penalties and providing them with financial assistance to help cover any expenses incurred during their ordeal. Overall, the Stop Terror-Financing and Tax Penalties on American Hostages Act aims to strengthen national security efforts by targeting the sources of funding for terrorist organizations, while also providing support to American hostages and their families during difficult times.
Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to postpone tax deadlines and reimburse paid late fees for United States nationals who are unlawfully or wrongfully detained or held hostage abroad, to terminate the tax-exempt status of terrorist supporting organizations, and for other purposes.
Policy Areas
Taxation

Comments

APPROVED
AC
Aliza Cameron
@corn_salad_glenlivet_hogshead00830
I dunno bout this bill, but it seems like it could mess things up for me. Short term affects might not be good.
APPROVED
IO
Ivy Oakley
@mamey_cloudberry_zucchini06099
Finally, something that might actually help us out a bit. Can't wait to see how this one plays out!
APPROVED
AG
Anais Garner
@glenrothers_kidney_bean_pomegranate21761
I am thrilled about this new bill that will help stop terror-financing and tax penalties on American hostages. It's about time we take action to protect our citizens and ensure their safety. This bill will have a positive impact on our country and ma...

Related

Bill Update Alert:  Stop Tax Penalties on American Hostages Act of 2024
Bill Update Alert:  Stop Tax Penalties on American Hostages Act of 2024
Bill Update Alert:  Providing for consideration of the bill (H.R. 1449) to amend the Geothermal Steam Act of 1970 to increase the frequency of lease sales, to require replacement sales, and for other purposes, and providing for consideration of the bill (H.R. 9495) to amend the Internal Revenue Code of 1986 to postpone tax deadlines and reimburse paid late fees for United States nationals who are unlawfully or wrongfully detained or held hostage abroad, to terminate the tax-exempt status of terrorist supporting organizations, and for other purposes.
Bill Update Alert:  A bill to amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations.
Bill Update Alert:  To amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations.
Committee:  Ways and Means
Vote Totals:  118 2nd 458 - On Motion to Suspend the Rules and Pass, as Amended
Vote Totals:  118 2nd 477 - On Passage

Recent Activity

Latest Summary10/11/2024

Stop Terror-Financing and Tax Penalties on American Hostages Act 

This bill postpones certain tax filing deadlines for U.S. nationals and their spouses who are unlawfully or wrongfully detained abroad or held hostage ab...

Latest Action12/2/2024
Received in the Senate.