A bill to ensure that health care providers do not incur additional Federal income tax liability due to receipt of assistance through the Provider Relief Fund during the COVID-19 pandemic.
USA116th CongressS-4525| Senate
| Updated: 8/12/2020
Marsha Blackburn
Republican Senator
Tennessee
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This bill affirms that any payment or benefit provided to a taxpayer under the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act due to COVID-19 (i.e., coronavirus disease 2019) shall be excluded from gross income, for income tax purposes. Additionally, no deduction shall be denied or reduced, no tax attribute shall be reduced, and no basis increase shall be denied resulting from such exclusion.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
AppropriationsBusiness expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesHealth programs administration and fundingIncome tax deductionsIncome tax exclusionInfectious and parasitic diseasesSmall businessWages and earnings
A bill to ensure that health care providers do not incur additional Federal income tax liability due to receipt of assistance through the Provider Relief Fund during the COVID-19 pandemic.
USA116th CongressS-4525| Senate
| Updated: 8/12/2020
This bill affirms that any payment or benefit provided to a taxpayer under the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act due to COVID-19 (i.e., coronavirus disease 2019) shall be excluded from gross income, for income tax purposes. Additionally, no deduction shall be denied or reduced, no tax attribute shall be reduced, and no basis increase shall be denied resulting from such exclusion.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Marsha Blackburn
Republican Senator
Tennessee
Finance Committee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
AppropriationsBusiness expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesHealth programs administration and fundingIncome tax deductionsIncome tax exclusionInfectious and parasitic diseasesSmall businessWages and earnings