To amend the Internal Revenue Code of 1986 to exclude from gross income certain interest and money market fund dividend income payments to charity and to modify the requirements relating to the reporting of such payments.

USA115^th CongressHR-894| House

| Updated: 2/6/2017

Interest for Others Act of 2017 This bill amends the Internal Revenue Code to allow individuals, trusts, or estates to exclude from gross income up to $50 per year of interest and money market fund dividend income that is contributed to charity using a program adopted by a financial institution or a money market fund. Details regarding the payments to charities must be reported to the Internal Revenue Service by any person that: (1) pays certain interest or dividends and has a charitable contribution program, or (2) is an aggregator that receives contributions and makes payments to charities under a program.

View Full Text

Taxation

Bank accounts, deposits, capitalCharitable contributionsIncome tax exclusionInterest, dividends, interest ratesTax administration and collection, taxpayers

To amend the Internal Revenue Code of 1986 to exclude from gross income certain interest and money market fund dividend income payments to charity and to modify the requirements relating to the reporting of such payments.

USA115^th CongressHR-894| House

| Updated: 2/6/2017

View Full Text

Erik Paulsen

Republican Representative

Minnesota

Cosponsors (1)

Kristi L. Noem (Republican)

Ways and Means Committee

Taxation

Introduced
In Committee
On Floor
Passed Chamber
Enacted

Bank accounts, deposits, capitalCharitable contributionsIncome tax exclusionInterest, dividends, interest ratesTax administration and collection, taxpayers

To amend the Internal Revenue Code of 1986 to exclude from gross income certain interest and money market fund dividend income payments to charity and to modify the requirements relating to the reporting of such payments.

Suggested Questions

Taxation

To amend the Internal Revenue Code of 1986 to exclude from gross income certain interest and money market fund dividend income payments to charity and to modify the requirements relating to the reporting of such payments.

Suggested Questions

Erik Paulsen

Ways and Means Committee

Taxation

To amend the Internal Revenue Code of 1986 to exclude from gross income certain interest and money market fund dividend income payments to charity and to modify the requirements relating to the reporting of such payments.

Suggested Questions

Taxation

To amend the Internal Revenue Code of 1986 to exclude from gross income certain interest and money market fund dividend income payments to charity and to modify the requirements relating to the reporting of such payments.

Suggested Questions

Erik Paulsen

Ways and Means Committee

Taxation