H.R. 4337 would amend the Internal Revenue Code of 1986 to allow individuals an above-the-line deduction for contributions made to the Armed Forces Relief Trust as part of filing their income tax returns.
Detailed Summary
Emergency Relief Tax Check-Off for Our Armed Forces Act of 2007 - Amends the Internal Revenue Code to allow a tax deduction (available to taxpayers who do not itemize their tax deductions) for charitable contributions of up to $1,000 ($2,000 in the case of a joint return) to the Armed Forces Relief Trust.
Allows taxpayers to designate on their tax returns a portion of any overpayment of tax as a contribution to the Trust or to make a cash contribution to the Trust with their tax returns.
Establishes an advisory board to advise the Trust on its operation and on the distribution of contributed funds.
Status of the Legislation
Latest Major Action: 12/6/2007: 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!)
Visitor Comments
There are currently no comments for this bill.