H.R. 3262, To amend the Internal Revenue Code of 1986 to restore age 14 as the age at which unearned income of minor children ceases to be taxed as if parent's income

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

Version saved on September 10, 2007, 18:25:06, by webmaster:

H.R. 3262 would amend the Internal Revenue Code of 1986 to restore age 14 as the age at which unearned income of minor children ceases to be taxed as if parent's income.

Detailed Summary

Repeals the provision in the Tax Increase Prevention and Reconciliation Act of 2005 which increased from 14 to 18 the age until which the unearned income of children is taxed at their parents' marginal income tax rates (thus restoring the age limit to 14).

Status of the Legislation

Latest Major Action: 7/31/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

(Log in to edit the wiki and be the first to show why the bill should pass!)

Points Against

(Log in to edit the wiki and be the first to show why the bill should not pass!)

« Return to Revision History.