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Tax Payment Clarification Act
10/28/2022, 1:46 AM
Congressional Summary of S 2998
Tax Payment Clarification Act
This bill amends the Internal Revenue Code to provide that installment payment of taxes on deferred foreign income shall not prevent a credit or refund of overpayments of tax or an increase in estimated taxes.
Read the Full Bill
Current Status of Bill S 2998
Bill S 2998 is currently in the status of Bill Introduced since December 9, 2019. Bill S 2998 was introduced during Congress 116 and was introduced to the Senate on December 9, 2019. Bill S 2998's most recent activity was Read twice and referred to the Committee on Finance. as of December 9, 2019
Bipartisan Support of Bill S 2998
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
4Democrat Cosponsors
1Republican Cosponsors
3Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 2998
Primary Policy Focus
TaxationPotential Impact Areas
- Income tax credits
- Income tax deferral
- Interest, dividends, interest rates
- Tax administration and collection, taxpayers
- Taxation of foreign income
Alternate Title(s) of Bill S 2998
Tax Payment Clarification Act
Tax Payment Clarification Act
A bill to amend the Internal Revenue Code of 1986 to clarify that payment of taxes on deferred foreign income in installments shall not prevent credit or refund of overpayments or increase estimated taxes.
Comments
Sponsors and Cosponsors of S 2998
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