Bill114th CongressFiled May 20, 2015Taxation
H.R. 2486
Stop Deducting Damages Act of 2015
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (May 20, 2015)
Stop Deducting Damages Act of 2015
Amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for compensatory or punitive damages in connection with any judgment in, or settlement of, any action against a government; and (2) include in gross income any amount paid as insurance or otherwise due to liability for punitive damages.
What just happenedMay 20, 2015
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Welch, Peter [D-VT-At Large](D-VT)Sponsor
1 cosponsor1 D
1cosponsors1committees3actions4subjects
- Introduced in HouseMay 20, 2015
- May 20, 2015IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - May 20, 2015IntroReferralIntro-H
Introduced in House
- May 20, 2015IntroReferral1000
Introduced in House