Armed Forces Tax Fairness Act of 2002

1/16/2023, 4:17 AM

Congressional Summary of HR 5063

Armed Forces Tax Fairness Act of 2002 - Amends the Internal Revenue Code to suspend, for members of the uniformed services serving on "qualified official extended duty" (any extended duty while serving at a duty station which is at least 250 miles from the principal residence or while residing under Government orders in Government quarters), the five-year period utilized in determining exclusion of gain from the sale of such residence. Limits the extension of such period to not more than five years.

Restores in full the tax exempt status of death gratuity payments to members of the armed services.

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Current Status of Bill HR 5063

Bill HR 5063 is currently in the status of Bill Introduced since July 8, 2002. Bill HR 5063 was introduced during Congress 107 and was introduced to the House on July 8, 2002.  Bill HR 5063's most recent activity was Message on House action received in Senate and at desk: House amendments to Senate amendments. as of November 14, 2002

Bipartisan Support of Bill HR 5063

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
5
Democrat Cosponsors
0
Republican Cosponsors
5
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5063

Primary Policy Focus

Taxation

Potential Impact Areas

Agriculture and FoodAnnuitiesArmed Forces and National SecurityArmed forces abroadArmed forces reservesAtmospheric researchCapital gains taxCitizenshipDay careDepartment of CommerceDepartment of Health and Human ServicesEconomics and Public FinanceExpatriationFamiliesFederal employeesGiftsGovernment Operations and PoliticsHealthHome ownershipHousing and Community DevelopmentHousing financeImmigrationIncome taxIndividual retirement accountsInternational AffairsLabor and EmploymentLawMarine and coastal resources, fisheriesMilitary dependentsMilitary operationsMilitary pensionsMilitary personnelMilitary trainingNational GuardOceanographic researchPersonal income taxPublic Lands and Natural ResourcesPublic health personnelReal estate appraisalRepatriationScience, Technology, CommunicationsSocial WelfareSocial security taxesSurvivors' benefitsTax administrationTax exclusionTax returnsTax treatiesTax-deferred compensation plansTax-exempt organizationsTransportation and Public WorksTravel costsTrusts and trusteesUser chargesVeterans' organizationsVisas

Alternate Title(s) of Bill HR 5063

Armed Forces Tax Fairness Act of 2002To amend the Internal Revenue Code of 1986 to provide a special rule for members of the uniformed services in determining the exclusion of gain from the sale of a principal residence and to restore the tax exempt status of death gratuity payments to members of the uniformed services.Armed Forces Tax Fairness Act of 2002Armed Forces Tax Fairness Act of 2002Armed Forces Tax Fairness Act of 2002Unemployment Benefits billAn Act to amend the Internal Revenue Code of 1986 to improve tax equity for military personnel, and for other purposes.To make technical amendments to the Social Security Act and related Acts. Armed Forces Tax Fairness Act of 2002
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