Summary: Economic Recovery and Middle-Class Tax Relief Act of 2009 - Makes permanent the reductions in the dividend and capital gain tax enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003.Amends the Internal Revenue Code to: (1) reduce individual and corporate income tax rates; (2) repeal the alternative minimum tax for individual taxpayers; (3) allow inflation adjustments to the basis of capital assets in determining gain or loss; (4) reduce the capital gains tax rate for corporations; (5) repeal limitations on the expensing allowance for depreciable business assets; (6) make permanent the tax credit for increasing research activities; (7) extend the carryback period for net operating losses to seven years; (8) increase the child tax credit; (9) exclude from gross income in 2009 distributions from an individual retirement plan (IRA) and exempt IRAs from mandatory distribution requirements after 2009; and (10) increase the tax deductions for tuition and related expenses and for the interest on qualified education loans.Makes 1% across-the-board rescissions in non-defense discretionary spending for FY2009.

economic recovery middle class tax relief act makes permanent reductions dividend capital gain tax enacted jobs_and_growth_tax_relief_reconciliation_act internal revenue code reduce individual corporate income tax rates repeal alternative minimum tax individual taxpayers allow inflation adjustments basis capital assets determining gain loss reduce capital gains tax rate corporations repeal limitations expensing allowance depreciable business assets permanent tax credit increasing research activities extend carryback period net operating losses seven years increase child tax credit exclude gross income distributions individual retirement plan ira exempt iras mandatory distribution requirements increase tax deductions tuition related expenses interest qualified education loans makes board rescissions non defense discretionary spending fy2009


Summary: Capital Gains and Estate Tax Relief Act of 2009 - Makes permanent the reduction in capital gains tax rates (from 20 to 15%) enacted by the Jobs and Growth Tax Relief and Reconciliation Act of 2003.Amends the Internal Revenue Code to: (1) restore the unified credit against gift tax liability; (2) provide for annual increases in the estate tax exclusion amount between 2010 and 2015 and establish a permanent exclusion amount of $5 million for 2015 and thereafter; (3) provide for an inflation adjustment to the estate tax exclusion amount after 2015; (4) reduce estate tax rate brackets; and (5) allow a surviving spouse to use the unused unified estate tax credit of a deceased spouse.

capital gains estate tax relief act makes permanent reduction capital gains tax rates enacted internal revenue code restore unified credit gift tax liability provide annual increases estate tax exclusion establish permanent exclusion million provide inflation adjustment estate tax exclusion reduce estate tax rate brackets allow surviving spouse use unused unified estate tax credit deceased spouse


Summary: Giving Incentives to Volunteers Everywhere Act of 2009 or the GIVE Act of 2009 - Amends the Internal Revenue Code to: (1) increase the standard mileage rate for use of a passenger automobile for charitable purposes to a rate not less than the rate used for the tax deduction for medical transportation expenses; and (2) exclude from the gross income of charitable volunteers reimbursements paid to them for the use of a passenger automobile for the benefit of a charitable organization.

giving incentives volunteers act act amends internal revenue code increase standard mileage rate use passenger automobile charitable purposes rate rate tax deduction medical transportation expenses exclude gross income charitable volunteers reimbursements paid use passenger automobile benefit charitable organization


Summary: Short Sea Shipping Act of 2009 - Amends the Internal Revenue Code to exempt from the harbor maintenance tax commercial cargo (other than bulk cargo) loaded at: (1) a port in the U.S. mainland and unloaded at another such port after transport solely by coastal route or river or unloaded at a port in Canada located in the Great Lakes Saint Lawrence Seaway System; or (2) such a port in Canada and unloaded at a port in the U.S. mainland. Defines the "Great Lakes Saint Lawrence Seaway System" as the waterway between Duluth, Minnesota, and Nova Scotia, encompassing the five Great Lakes, their connecting channels, and the Saint Lawrence River.

amends internal revenue code exempt harbor maintenance tax commercial cargo bulk cargo loaded port mainland unloaded port transport solely coastal route river unloaded port canada located great lakes saint lawrence seaway system port canada unloaded port mainland defines great lakes saint lawrence seaway system waterway duluth minnesota encompassing great lakes connecting channels saint lawrence river


Summary: Strengthen the Earned Income Tax Credit Act of 2009 - Amends the Internal Revenue Code to: (1) make permanent the reduction in the marriage penalty applicable to the earned income tax credit; (2) increase the rate of such credit for families with three or more children; and (3) increase the rate and the phase-out percentage of such credit for individuals without children.

strengthen earned income tax credit act amends internal revenue code permanent reduction marriage penalty applicable earned income tax credit increase rate credit families children increase rate phase percentage credit individuals children


Summary: AMT Rate Reduction Act of 2009 - Amends the Internal Revenue Code to reduce to 24% the rate of the tentative alternative minimum tax for noncorporate taxpayers.

amt rate reduction act amends internal revenue code reduce rate tentative alternative minimum tax noncorporate taxpayers


Summary: Amends the Internal Revenue Code with respect to the charitable tax deduction for contributions of qualified vehicles (i.e., highway motor vehicles, boats, or airplanes) to: (1) set forth revised acknowledgment requirements for vehicles valued at $2,500 or less and vehicles valued at more than $2,500; and (2) revise the penalty for submitting a fraudulent acknowledgment.

amends internal revenue code respect charitable tax deduction contributions qualified vehicles highway motor vehicles boats airplanes set forth revised acknowledgment requirements vehicles valued vehicles valued revise penalty submitting fraudulent acknowledgment


Summary: Charitable Driving Tax Relief Act of 2009 - Amends the Internal Revenue Code to provide that volunteers who use their automobiles for the benefit of a charitable organization may exclude from their gross income reimbursements for their automobile operating expenses at the same level as business employees (i.e., 55 cents per mile in 2009).

charitable driving tax relief act amends internal revenue code provide volunteers use automobiles benefit charitable organization exclude gross income reimbursements automobile operating expenses level business employees cents mile


Summary: Save Our Climate Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on the carbon content of any taxable fuel sold by a manufacturer, producer, or importer. Sets the amount of such tax at $10 per ton of the carbon content in such fuel, with annual increases in the amount of such tax until the second year after the level of carbon dioxide emissions in the United States for the calendar year does not exceed 20% of the level for 1990. Defines "taxable fuel" as coal (including lignite and peat), petroleum and any petroleum product, and natural gas. Exempts from such tax the sale or in-kind exchange of fuel for deposit in the Strategic Petroleum Reserve and certain exports or resales of such fuel.

save climate act amends internal revenue code impose excise tax carbon content taxable fuel sold manufacturer producer importer sets tax ton carbon content fuel annual increases tax second year level carbon dioxide emissions united_states calendar year exceed level defines taxable fuel coal including lignite peat petroleum petroleum product natural gas exempts tax sale kind exchange fuel deposit strategic_petroleum_reserve certain exports fuel


Summary: Amends the Internal Revenue Code to allow an exclusion from gross income for income attributable to the discharge of indebtedness relating to securities issued by certain financial entities and discharged after December 31, 2008, and before January 1, 2011.

amends internal revenue code allow exclusion gross income income attributable discharge indebtedness relating securities issued certain financial entities discharged december january


Summary: AMT Relief Extension Act of 2009 - Amends the Internal Revenue Code to: (1) increase the exemption from the alternative minimum tax for individual taxpayers in 2009; and (2) extend through 2009 the allowance of certain nonrefundable tax credits against alternative minimum tax liability.

amt relief extension act amends internal revenue code increase exemption alternative minimum tax individual taxpayers extend allowance certain nonrefundable tax credits alternative minimum tax liability


Summary: Seniors' Tax Simplification Act of 2009 - Directs the Secretary of the Treasury to make available a new federal income tax Form 1040S (similar to Form 1040EZ) to individuals who have turned 65 as of the close of the taxable year. Allows the form to be used even if income includes: (1) social security benefits; (2) distributions from qualified retirement plans, annuities, or other such deferred payment arrangements; (3) interest and dividends; or (4) capital gains and losses.

seniors tax simplification act directs secretary treasury available new federal income tax form similar form 1040ez individuals turned close taxable year allows form income includes social security benefits distributions qualified retirement plans annuities deferred payment arrangements interest dividends capital gains losses


Summary: Rangel Rule Act of 2009 - Amends the Internal Revenue Code to exempt any U.S. citizen who writes "Rangel Rule" on the top of the first page of his or her income tax return from interest on unpaid taxes, penalties, additions to tax, or additional amounts.

amends internal revenue code exempt citizen page income tax return interest unpaid taxes penalties additions tax additional amounts


Summary: Tax Free Tips Act of 2009 - Amends the Internal Revenue Code to exempt tips from the income tax, social security and railroad retirement taxes, unemployment taxes, and tax withholding. Defines "tips" as any gratuity provided to a salaried employee by a customer or client of the employer's business.

tax free tips act amends internal revenue code exempt tips income tax social security railroad retirement taxes unemployment taxes tax withholding defines tips gratuity provided employee customer client employer business


Summary: Taxpayer Choice Act of 2009 - Amends the Internal Revenue Code to: (1) repeal the alternative minimum tax on individual taxpayers after 2008; and (2) allow taxpayers to elect an alternative income tax system.Makes permanent the capital gains and dividends rate reductions enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2001.

taxpayer choice act amends internal revenue code repeal alternative minimum tax individual taxpayers allow taxpayers elect alternative income tax system makes permanent capital gains dividends rate reductions enacted jobs_and_growth_tax_relief_reconciliation_act


Summary: Amends the Internal Revenue Code to repeal the authority of the Secretary of the Treasury to enter into contracts with private debt collection agencies for the collection of unpaid taxes.

amends internal revenue code repeal authority secretary treasury enter contracts private debt collection agencies collection unpaid taxes


Summary: Brewers Excise and Economic Relief Act of 2009 - Amends the Internal Revenue Code to: (1) reduce from $18 to $9 ( the pre-1991 level) the per-barrel tax on beer; and (2) allow a further reduction in such tax for brewers who produce not more than 2 million barrels annually.

brewers excise economic relief act amends internal revenue code reduce pre-1991 level barrel tax beer allow reduction tax brewers produce million barrels annually


Summary: Amends the Internal Revenue Code to repeal, effective January 1, 2009, the 1993 increase in income taxes on Social Security benefits.

amends internal revenue code repeal effective january increase income taxes social_security benefits


Summary: Middle Class Investor Relief Act - Amends the Internal Revenue Code to increase to $20,000 the limitation on the amount of losses from the sale or exchange of capital assets that an individual taxpayer may deduct in a taxable year.

middle class investor relief_act_-_amends internal revenue code increase limitation losses sale exchange capital assets individual taxpayer deduct taxable year


Summary: Transportation Flexible Savings Accounts Act of 2009 - Amends the Internal Revenue Code to allow certain employer-provided transportation benefits (i.e., commuting and parking costs, transit passes) under tax-qualified flexible spending arrangements.

accounts act amends internal revenue code allow certain employer provided transportation benefits commuting parking costs transit passes tax qualified flexible spending arrangements


Summary: Stop Taxpayer-Offensive Practices Act of 2009 or the STOP Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to instruct the Secretary of the Treasury to establish policies which prohibit excessive or luxury expenditures by any recipient of assistance under such Act in connection with: (1) entertainment or events; (2) office and facility renovations; (3) aviation or other transportation service; and (4) any other activity or event that is not a reasonable expenditure for any conference, staff development, performance incentive. Requires the board of directors of each recipient to establish company-wide policies for limiting excessive or luxury expenditures that are not inconsistent with the policies established by the Secretary. States that any policy established by the Secretary or any board of directors that is applicable to any recipient of EESA assistance remains effective while the assistance remains outstanding.

stop taxpayer offensive practices act stop act amends emergency economic stabilization act eesa instruct secretary treasury establish policies prohibit excessive luxury expenditures recipient assistance act connection entertainment events office facility renovations aviation transportation service activity event reasonable expenditure conference staff development performance incentive requires board directors recipient establish company wide policies limiting excessive luxury expenditures inconsistent policies established secretary states policy established secretary board directors applicable recipient eesa assistance remains effective assistance remains outstanding


Summary: Tax Code Termination Act - Terminates the Internal Revenue Code of 1986 after December 31, 2012, except for self-employment taxes, Federal Insurance Contributions Act taxes, and railroad retirement taxes. Requires a two-thirds majority vote in Congress to change such termination date.Declares that any new federal tax system should be a simple and fair system that: (1) applies a low rate to all Americans; (2) provides tax relief for working Americans; (3) protects the rights of taxpayers and reduces tax collection abuses; (4) eliminates the bias against savings and investment; (5) promotes economic growth and job creation; and (6) does not penalize marriage or families.Requires that the new federal tax system be approved by Congress in its final form by July 4, 2012.

tax code termination act terminates internal revenue code december self employment taxes federal_insurance_contributions_act taxes railroad retirement taxes requires thirds majority vote congress change termination date declares new federal tax system simple fair system applies low rate americans provides tax relief working americans protects rights taxpayers reduces tax collection abuses eliminates bias savings investment promotes economic growth job creation penalize marriage families requires new federal tax system approved congress final form july


Summary: Freedom Flat Tax Act - Amends the Internal Revenue Code to authorize an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing tax provisions) of 19% for the first two years after an election is made, and 17% thereafter. Calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each dependent from the total of wages, retirement distributions, and unemployment compensation. Defines "business taxable income" to mean gross active income reduced by the cost of certain business inputs. Imposes an employer tax on the value of excludable compensation provided to employees not engaged in business activity of 19% for the first two years after an election is made under this Act and 17% thereafter. Repeals the estate, gift, and generation-skipping transfer taxes. Requires a two-thirds vote of the House of Representatives or the Senate to increase the flat tax rate proposed by this Act or to reduce the amount of the standard deduction or business-related deductions allowed by this Act.

freedom flat tax act amends internal revenue code authorize individual person engaged business activity irrevocable election subject flat tax lieu existing tax provisions years election calculates taxable income individual taxpayers subtracting basic standard deduction additional standard deduction dependent total wages retirement distributions unemployment compensation defines business taxable income mean gross active income reduced cost certain business inputs imposes employer tax value excludable compensation provided employees engaged business activity years election act repeals estate gift generation skipping transfer taxes requires thirds vote house_of_representatives senate increase flat tax rate proposed act reduce standard deduction business related deductions allowed act


Summary: Amends the Internal Revenue Code to provide that a loan guarantee by the North American Development Bank (NADBank) shall not be treated as a federal guarantee for purposes of the tax exclusion for interest on state and local bonds.

amends internal revenue code provide loan guarantee shall treated federal guarantee purposes tax exclusion interest state local bonds


Summary: Amends the Internal Revenue Code to increase to $10,000 the limitation on the amount of losses from the sale or exchange of capital assets that an individual taxpayer may deduct in a taxable year beginning after December 31, 2007.

amends internal revenue code increase limitation losses sale exchange capital assets individual taxpayer deduct taxable year beginning december


Summary: Artist-Museum Partnership Act of 2009 - Amends the Internal Revenue Code to allow taxpayers who create literary, musical, artistic, or scholarly compositions or similar property a fair market value (determined at the time of contribution) tax deduction for contributions of such properties, the copyrights thereon, or both, to certain tax-exempt organizations, if such properties are properly appraised and are donated no sooner than 18 months after their creation. Limits the amount of such deduction based upon the donor's artistic adjusted gross income, as defined by this Act.

amends internal revenue code allow taxpayers create literary musical artistic scholarly compositions similar property fair market value determined time contribution tax deduction contributions properties copyrights thereon certain tax exempt organizations properties properly appraised donated sooner months creation limits deduction based donor artistic adjusted gross income defined act


Summary: Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit the Secretary of the Treasury from: (1) making any purchase for which the Secretary receives control-diluting stock; or (2) converting into control-diluting stock any security received by the Secretary (other than a warrant). Defines control-diluting stock as: (1) common stock of a financial institution; (2) any other voting stock of a financial institution other than voting stock whose voting power the Secretary agrees not to exercise; or (3) a warrant giving the Secretary the right to receive either of such stock.

amends emergency economic stabilization act eesa prohibit secretary treasury making purchase secretary receives control stock converting control stock security received secretary warrant defines control stock common stock financial institution voting stock financial institution voting stock voting power secretary agrees exercise warrant giving secretary right receive stock


Summary: Amends the Emergency Economic Stabilization Act of 2008 (EESA) to direct the Secretary of the Treasury to: (1) establish an electronic database using data from specified sources to monitor the use of Troubled Asset Relief Program (TARP) funds by institutions receiving financial assistance or procurement contracts; and (2) make such database available to the Special Inspector General of TARP, the Comptroller General, and the Congressional Oversight Panel in order to provide them with access to current information on the status of funds distributed under TARP, including funds distributed through procurement contracts. Requires the Secretary to: (1) collect from each federal agency any regulatory filings, internal models, financial models, and analytics associated with the financial assistance on at least a daily basis in order to determine the effectiveness of TARP in stimulating prudent lending and strengthening bank capital; and (2) compare the data in such database with any other data in order to identify activities inconsistent with TARP goals. Requires the Secretary, if a recipient's use of TARP funds is not meeting TARP goals, to develop, in coordination with federal agencies, recommendations for better meeting such goals. Directs the Secretary, furthermore, to modify permitted uses of TARP funds if such goals are not met within a reasonable time after the recommendations are communicated. Directs the Secretary to: (1) adopt rules and procedures for public access to the electronic database created by this Act; and (2) implement measures to protect confidential or proprietary information. Subjects intentional disclosure of such information to criminal penalties. Requires the Secretary to: (1) issue a request for proposal and award contract services to implement this Act within 30 days after enactment; and (2) ensure that the electronic database is operational within 180 days after the date of enactment of this Act. Modifies the reduction of TARP funds to offset the costs of program changes.

amends emergency economic stabilization act eesa direct secretary treasury establish electronic database data specified sources monitor use troubled_asset_relief_program tarp funds institutions receiving financial assistance procurement contracts database available special inspector general tarp comptroller_general congressional_oversight_panel order provide access current information status funds distributed tarp including funds distributed procurement contracts requires secretary collect federal agency regulatory filings internal models financial models analytics associated financial assistance daily basis order determine effectiveness tarp prudent lending strengthening bank capital compare data database data order identify activities inconsistent tarp goals requires secretary recipient use tarp funds meeting tarp goals develop coordination federal agencies recommendations better meeting goals directs secretary furthermore modify permitted uses tarp funds goals met reasonable time recommendations communicated directs secretary adopt rules procedures public access electronic database created act implement measures protect confidential proprietary information subjects intentional disclosure information criminal penalties requires secretary issue request proposal award contract services implement act days enactment ensure electronic database operational days date enactment act modifies reduction tarp funds offset costs program changes


Summary: Public Good IRA Rollover Act of 2009 - Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for certain charitable purposes.

public good ira rollover act amends internal revenue code exclude gross income distributions individual retirement accounts certain charitable purposes


Summary: Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Secretary of the Treasury); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations; (4) increase the period for Internal Revenue Service (IRS) review of tax returns involving offshore secrecy jurisdictions; (5) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions; (6) disallow tax advisor opinions validating transactions in offshore secrecy jurisdictions; (7) subject dividend equivalents and substitute dividends to the 30% tax on foreign income; and (8) impose reporting requirements for transactions involving a passive foreign investment company.Amends the Securities Exchange Act of 1934 and other federal enactments to impose a penalty for failure to disclose holdings or transactions involving a foreign entity.Requires the Secretary of the Treasury to publish a final rule requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs, and to submit suspicious activity reports.Modifies requirements for certain third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (John Doe summons).Increases penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability.Prohibits the patenting of tax planning inventions.Prohibits tax advisor contingent fee agreements for obtaining tax savings or benefits.Allows increased disclosure of tax information for enforcement purposes.Directs the Secretary to impose standards for written tax opinions by tax practitioners.Denies tax deductions for certain fines and penalties for violations of law and for interest paid on certain understatements of tax.Sets forth rules for the application of the economic substance doctrine and imposes penalties for underpayments of tax due to transactions lacking economic substance.

stop tax haven abuse code provisions relating tax shelter activities establish legal presumptions validity transactions involving offshore secrecy jurisdictions foreign tax havens identified act secretary treasury impose restrictions foreign jurisdictions financial institutions international transactions primary money laundering concern impede tax enforcement treat certain foreign corporations managed controlled primarily united_states domestic corporations increase period internal_revenue_service irs review tax returns involving offshore secrecy jurisdictions require tax withholding agents financial institutions report certain information beneficial owners foreign owned financial accounts accounts established offshore secrecy jurisdictions disallow tax advisor opinions validating transactions offshore secrecy jurisdictions subject dividend equivalents substitute dividends tax foreign income impose reporting requirements transactions involving passive foreign investment company amends securities_exchange_act federal enactments impose penalty failure disclose holdings transactions involving foreign entity requires secretary treasury publish final rule requiring unregistered investment companies including hedge funds private equity funds establish anti money laundering programs submit suspicious activity reports modifies requirements certain party summonses obtain information tax investigations identify person respect liability summons issued john_doe penalties promoting abusive tax shelters aiding abetting understatement tax liability prohibits patenting tax planning inventions prohibits tax advisor contingent fee agreements obtaining tax savings benefits allows increased disclosure tax information enforcement purposes directs secretary impose standards written tax opinions tax practitioners denies tax deductions certain fines penalties violations law interest paid certain understatements tax sets forth rules application economic substance doctrine imposes penalties underpayments tax transactions lacking economic substance


Summary: Congressional Accountability and Line Item Veto Act of 2009 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to propose the repeal of any congressional earmark or the cancellation (line item veto) of any limited tariff benefit or targeted tax benefit. Sets forth requirements for the President's transmittal to Congress of a special message regarding a proposed repeal or cancellation. Dedicates any repeal or cancellation only to deficit reduction or increase of a surplus. Provides for adjustment of: (1) committee allocations resulting from such rescission; and (2) applicable limits, as appropriate, under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Sets forth procedures for expedited congressional consideration of a proposed rescission. Expresses the sense of Congress that no President or any executive branch official should condition the inclusion or exclusion, or threaten to condition the inclusion or exclusion, of any proposed repeal or cancellation in any special message under this Act upon any vote cast or to be cast by any Member of either chamber.

amends congressional_budget impoundment control act authorize president propose repeal congressional earmark cancellation line item veto limited tariff benefit targeted tax benefit sets forth requirements president transmittal congress special message proposed repeal cancellation dedicates repeal cancellation deficit reduction increase surplus provides adjustment committee allocations resulting rescission applicable limits appropriate balanced_budget emergency deficit control act gramm rudman hollings act sets forth procedures expedited congressional consideration proposed rescission expresses sense congress president executive branch official condition inclusion exclusion threaten condition inclusion exclusion proposed repeal cancellation special message act vote cast cast member chamber


Summary: Unemployed Tax Relief Act of 2009 - Amends the Internal Revenue Code to exclude from the gross income of an employee who is separated from employment due to a reduction in force the last regular payment of wages prior to such separation and any severance pay received in connection with such separation. Exempts such wages and severance pay from employment-related taxation. Requires transfers from the Treasury to employment-related trust funds to compensate for revenues lost by such trust funds due to this Act.

amends internal revenue code exclude gross income employee separated employment reduction force regular payment wages prior separation severance pay received connection separation exempts wages severance pay employment related taxation requires transfers treasury employment related trust funds compensate revenues lost trust funds act


Summary: Special Inspector General for the Troubled Asset Relief Program Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 to grant the Special Inspector General (SIG) authority to conduct, supervise, and coordinate an audit or investigation of any action taken with regard to the Troubled Asset Relief Program (TARP) that the SIG deems appropriate. Prohibits any audit or investigation, however, of any action related to: (1) graduated authorization to purchase troubled assets; (2) oversight and audits by the Comptroller General; (3) the Comptroller General's study and report on margin authority; and (4) the Congressional Oversight Panel. Authorizes the SIG to exercise specified employment authorities for additional personnel, but not after six months following enactment of this Act. Prohibits any period of appointment from exceeding the date on which the Office of the SIG terminates. States that if an annuitant receiving an annuity from the Civil Service Retirement and Disability Fund becomes employed within the Office of the SIG for the Troubled Asset Relief Program, such annuity shall continue. Limits such allowance to: (1) not more than 25 employees at any time as designated by the SIG; and (2) only pay periods beginning after the enactment of this Act. Requires the Secretary of the Treasury either to: (1) take action to address deficiencies identified by a report or investigation of the SIG or other auditor engaged by the TARP; or (2) certify to congressional committees that no action is necessary or appropriate. Instructs the SIG to work with Inspectors General of designated federal agencies to: (1) avoid duplication of effort; and (2) ensure comprehensive oversight of TARP. Requires the SIG to: (1) report to Congress by September 1, 2009, on the use of any funds received by a financial institution under TARP; and (2) make such report available to the public, including on the home page of the SIG's website within 24 hours after its submission to Congress. Requires funding for the office of the SIG to be made available not later than seven days after the the date of enactment of this Act. Makes the Special Inspector General for Iraq Reconstruction and the Special Inspector General for Afghanistan Reconstruction members of the Council of the Inspectors General on Integrity and Efficiency until the termination of their respective Offices.

special inspector general amends emergency economic stabilization act grant special inspector general sig authority conduct supervise coordinate audit investigation action taken regard troubled_asset_relief_program tarp sig deems appropriate prohibits audit investigation action related graduated authorization purchase troubled assets oversight audits comptroller_general comptroller_general study report margin authority congressional_oversight_panel authorizes sig exercise specified employment authorities additional personnel months following enactment act prohibits period appointment exceeding date terminates states annuitant receiving annuity civil_service_retirement_and_disability_fund employed troubled_asset_relief_program annuity shall continue limits allowance employees time designated sig pay periods beginning enactment act requires secretary treasury action address deficiencies identified report investigation sig auditor engaged tarp certify congressional committees action necessary appropriate instructs sig work inspectors general designated federal agencies avoid duplication effort ensure comprehensive oversight tarp requires sig report congress september use funds received financial institution tarp report available public including home page sig website hours submission congress requires funding office sig available later seven days date enactment act makes special inspector general iraq reconstruction special inspector general afghanistan_reconstruction members council_of_the_inspectors_general_on_integrity_and_efficiency termination respective offices


Summary: Auto File Act of 2009 - Amends the Internal Revenue Code to require the Secretary of the Treasury to establish a program for mailing pre-filled income tax returns to assist certain taxpayers who may be eligible for the earned income tax credit in completing their tax returns.

auto file act amends internal revenue code require secretary treasury establish program mailing pre filled income tax returns assist certain taxpayers eligible earned income tax credit completing tax returns


Summary: Amends the Internal Revenue Code to: (1) increase the dollar limitation on employment-related expenses that qualify for the tax credit for expenses for household and dependent care services necessary for gainful employment (dependent care tax credit); (2) repeal the requirement that a disabled dependent and the taxpayer share the same residence to qualify for such credit; (3) require the Secretary of the Treasury to prescribe regulations to qualify retirees for such credit; and (4) make such credit refundable.Makes permanent the increases in the dependent care tax credit enacted by the Economic Growth and Tax Relief Reconciliation Act of 2001.

amends internal revenue code increase dollar limitation employment related expenses qualify tax credit expenses household dependent care services necessary gainful employment dependent care tax credit repeal requirement disabled dependent taxpayer share residence qualify credit require secretary treasury prescribe regulations qualify retirees credit credit refundable makes permanent increases dependent care tax credit enacted economic_growth_and_tax_relief_reconciliation_act


Summary: Earmark Accountability and Reform Act of 2009 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to propose the cancellation (line item veto) of any dollar amount of discretionary budget authority, item of direct spending, or targeted tax benefit. Sets forth requirements for the President's transmittal to Congress of a special message regarding a proposed cancellation. Dedicates any cancellation only to deficit reduction or increase of a surplus. Provides for adjustment of: (1) committee allocations resulting from such rescission; and (2) applicable limits, as appropriate, under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Sets forth procedures for expedited congressional consideration of a proposed rescission. Expresses the sense of Congress that no President or any executive branch official should condition the inclusion or exclusion, or threaten to condition the inclusion or exclusion, of any proposed cancellation in any special message under this Act upon any vote cast or to be cast by any Member of either chamber. Amends Rule XXII (House and Senate Relations) of the Rules of the House of Representatives to declare that any earmark that was not committed to conference by either chamber in their disagreeing votes on a measure shall be considered out of scope under such Rule. Amends Rule XIII (Calendars and Committee Reports) to prohibit floor consideration of a report by the Committee on Rules on a rule or order to waive the three-day layover requirement of Rule XIII or Rule XXII, except when agreed to by two-thirds of the Members voting, a quorum being present.

reform act amends congressional_budget impoundment control act authorize president propose cancellation line item veto dollar discretionary budget authority item direct spending targeted tax benefit sets forth requirements president transmittal congress special message proposed cancellation dedicates cancellation deficit reduction increase surplus provides adjustment committee allocations resulting rescission applicable limits appropriate balanced_budget emergency deficit control act gramm rudman hollings act sets forth procedures expedited congressional consideration proposed rescission expresses sense congress president executive branch official condition inclusion exclusion threaten condition inclusion exclusion proposed cancellation special message act vote cast cast member chamber amends rule xxii house rules house_of_representatives declare earmark committed conference chamber votes measure shall considered scope rule amends rule xiii committee reports prohibit floor consideration report rule order waive day requirement rule xiii agreed thirds members voting quorum present


Summary: Volunteer Firefighter Recruitment and Retention Act of 2009- Amends the Internal Revenue Code to allow volunteer firefighters with eight or more years of service a $1,500 tax credit ($1,000 for three or more years).

retention act amends internal revenue code allow volunteer firefighters years service tax credit years


Summary: Amends the Internal Revenue Code to repeal the qualification standard for exterior windows (including skylights) and exterior doors for purposes of the tax credit for nonbusiness energy property.

amends internal revenue code repeal qualification standard exterior windows including exterior doors purposes tax credit nonbusiness energy property


Summary: Amends Internal Revenue Code provisions relating to the first-time homebuyer tax credit to: (1) extend such credit through December 31, 2009; (2) increase the amount of such credit to $15,000; and (3) extend such credit to all individuals who purchase a principal residence (currently, only first-time homebuyers as so defined).

amends internal revenue code provisions relating time homebuyer tax credit extend credit december increase credit extend credit individuals purchase principal residence currently time homebuyers defined


Summary: Amends the Internal Revenue Code to exclude from gross income long-term gain on capital assets acquired or disposed of between January 1, 2009, and December 31, 2010.

amends internal revenue code exclude gross income long term gain capital assets acquired disposed january december


Summary: Child Health Care Affordability Act - Amends the Internal Revenue Code to allow a tax credit for the medical expenses of a dependent. Limits the amount of such credit to $500 (adjusted for inflation) per dependent. Increases the amount of the credit to $3,000 (adjusted for inflation) for a dependent who has a terminal disease, cancer, a disability, or any other health condition requiring hospitalization or other forms of specialized care. (Coordinates the credit allowed by this Act with the income tax credit for household and dependent care expenses and the income tax deduction for medical expenses to prevent a double tax benefit.)

child health care affordability act amends internal revenue code allow tax credit medical expenses dependent limits credit adjusted inflation dependent increases credit adjusted inflation dependent terminal disease cancer disability health condition requiring hospitalization forms specialized care coordinates credit allowed act income tax credit household dependent care expenses income tax deduction medical expenses prevent double tax benefit


Summary: Freedom From Unnecessary Litigation Act of 2009 - Amends the Internal Revenue Code to: (1) allow a tax credit for insurance purchased to cover the costs of a negative outcome from surgery, including negative outcomes caused by physician malpractice; and (2) exclude from gross income medical malpractice awards granted in binding arbitration.

freedom unnecessary litigation act amends internal revenue code allow tax credit insurance purchased cover costs negative outcome surgery including negative outcomes caused physician malpractice exclude gross income medical malpractice awards granted binding arbitration


Summary: Helping Families Afford to Work Act - Amends the Internal Revenue Code relating to the dependent care tax credit to: (1) increase from $15,000 to $20,000 the income threshold at which the rate of such credit is reduced; (2) increase the rate of such credit from 35 to 50%; (3) increase the maximum dollar amount of such credit; and (4) make such credit refundable.

helping families afford work act amends internal revenue code relating dependent care tax credit increase income threshold rate credit reduced increase rate credit increase maximum dollar credit credit refundable


Summary: Home Office Deduction Simplification Act - Amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business a standard tax deduction equal to the lesser of $1,500 or the taxpayer's gross trade or business income derived from the business use of such residence.

internal revenue code allow taxpayer uses residence conduct trade business standard tax deduction equal lesser taxpayer gross trade business income derived business use residence


Summary: Bailout Bonus Tax Bracket Act of 2009 - Amends the Internal Revenue Code to impose an additional income tax on bonuses paid to employees of entities that received financial assistance under the Troubled Asset Relief Program (TARP).

bailout bonus tax bracket act amends internal revenue code impose additional income tax bonuses paid employees entities received financial assistance troubled_asset_relief_program tarp


Summary: Amends the Internal Revenue Code to impose an additional 100% income tax on bonuses paid to the employees of entities that received assistance under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 and in which the federal government has an ownership interest greater than 50%.

amends internal revenue code impose additional income tax bonuses paid employees entities received assistance troubled_asset_relief_program tarp emergency_economic_stabilization_act federal government ownership interest greater


Summary: Amends the Internal Revenue Code to impose an additional 95% income tax on bonuses paid to current or former employees of entities that received funds under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008.

amends internal revenue code impose additional income tax bonuses paid current employees entities received funds troubled_asset_relief_program tarp emergency_economic_stabilization_act


Summary: Permanent Internet Tax Freedom Act of 2009 - Amends the Internet Tax Freedom Act to make permanent the ban on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce.

permanent internet tax freedom act amends internet tax freedom act permanent ban state local taxation internet access multiple discriminatory taxes electronic commerce


Summary: Amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business a standard tax deduction equal to the lesser of $2,500 or the taxpayer's gross trade or business income derived from the business use of such residence.

amends internal revenue code allow taxpayer uses residence conduct trade business standard tax deduction equal lesser taxpayer gross trade business income derived business use residence


Summary: Taxpayer Protection Act - Amends the Internal Revenue Code to impose a 90% income tax on bonuses paid to employees after 2008 by entities that received financial assistance under the Troubled Asset Relief Program (TARP).

taxpayer protection act amends internal revenue code impose income tax bonuses paid employees entities received financial assistance troubled_asset_relief_program tarp


Summary: Executive Bonus Repeal Act - Amends the Emergency Economic Stabilization Act of 2008 to repeal the exception to the general prohibition against payments of bonuses by companies receiving assistance under the Troubled Asset Relief Program (TARP) for bonus payments that were required by a written employment contract executed on or before February 11, 2009.

executive bonus repeal act amends emergency economic stabilization act repeal exception general prohibition payments bonuses companies receiving assistance troubled_asset_relief_program tarp bonus payments required written employment contract executed february


Summary: Helping Americans Keep Their Homes Act of 2009 - Amends the Internal Revenue Code to: (1) increase from $10,000 to $15,000 the limit on penalty-free distributions from tax-exempt retirement plans for the purchase of a principal residence by a first-time homebuyer; (2) suspend the first-time homebuyer requirement for such distributions that are made before January 1, 2011; and (3) exempt loans from individual retirement accounts (IRAs) used to refinance a principal residence from certain prohibited transaction tax rules until 2011.

helping americans homes act amends internal revenue code increase limit penalty free distributions tax exempt retirement plans purchase principal residence time homebuyer suspend time homebuyer requirement distributions january exempt loans individual retirement accounts iras refinance principal residence certain prohibited transaction tax rules


Summary: Amends the Internal Revenue Code to exclude from gross income long-term gain on capital assets acquired between the date of enactment of this Act and December 31, 2009.

amends internal revenue code exclude gross income long term gain capital assets acquired date enactment act december


Summary: Fiscal Integrity through Transparency and Technology (FITT) Act of 2009 - Amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives or in the Senate to consider any budget resolution for any fiscal year if the percentage increase for the projected total outlays compared to the projected total outlays for the preceding fiscal year exceeds the allowable growth percentage, as determined according to a specified formula. Requires a super majority vote in either chamber to waive or suspend such prohibition. Requires federal departments and agencies to report annually to the Comptroller General, and federal intelligence departments and agencies and their intelligence-related divisions to report annually to the House Select Committee on Intelligence, on total department or agency operating costs for the year, with a separate statement detailing waste, fraud, and abuse during such year. Requires each federal department or agency to design and implement a plan to reduce its operational costs from $.36 to $.15 of every $1.00 appropriated to it (or reduce such costs by 41.67%) through the use of new technologies and standard management practices. Requires the Secretary of the Treasury to include, on each federal tax return, a statement of the aggregate dollar amount of waste, fraud, and abuse by all federal departments and agencies for the most recent year accounted for.

fiscal integrity transparency technology act amends congressional budget act order house_of_representatives senate consider budget resolution fiscal year percentage increase projected total outlays compared projected total outlays preceding fiscal year exceeds allowable growth percentage determined according specified formula requires super majority vote chamber waive suspend prohibition requires federal departments agencies report annually comptroller_general federal intelligence departments agencies intelligence related divisions report annually total department agency operating costs year separate statement detailing waste fraud abuse year requires federal department agency design implement plan reduce operational costs appropriated reduce costs use new technologies standard management practices requires secretary treasury include federal tax return statement aggregate dollar waste fraud abuse federal departments agencies recent year accounted


Summary: Prevent All Cigarette Trafficking Act of 2009 or PACT Act - Amends the Jenkins Act to revise provisions governing the collection of taxes on, and trafficking in, cigarettes and smokeless tobacco. (Sec. 2) Revises the definition of "cigarette" to include roll-your-own tobacco and to exclude cigars. Defines "delivery sale" to mean any sale of cigarettes or smokeless tobacco to a consumer ordered by telephone, the mails, or the Internet or other online service . Redefines "person" to include state, local, and Indian tribal governments. Redefines "use" to include the consumption, storage, handling, or disposal of smokeless tobacco, in addition to cigarettes. Applies state tobacco tax reporting requirements to: (1) the sale or advertising for sale of smokeless tobacco products; (2) persons who ship or transfer cigarettes and smokeless tobacco products; and (3) the shipment of cigarettes or smokeless tobacco into a locality or Indian country that taxes the sale or use of such products. Requires sellers of tobacco products to file with the Attorney General reports filed with state tobacco tax administrators. Imposes additional information reporting requirements on such sellers, including the disclosure of electronic mail addresses, website addresses, and authorized agents for service of process. Limits the use of information received from sellers of tobacco products solely for tax enforcement purposes. Expands requirements for delivery sales by requiring each delivery seller, with respect to delivery sales into a specific state and place, to: (1) comply with specified shipping and record-keeping requirements, all state, local, tribal, and other laws generally applicable to sales of cigarettes or smokeless tobacco as if such delivery sales occurred entirely within the specific state and place (including laws imposing excise taxes and licensing and tax-stamping requirements), and specified tax collection requirements; (2) include on the bill of lading for the shipping package containing cigarettes or smokeless tobacco a clear and conspicuous statement that federal law requires the payment of all applicable excise and sales taxes and compliance with applicable licensing and tax-stamping obligations; (3) comply with specified weight and age verification requirements; and (4) keep records of all delivery sales, organized by state, for four years and make such records accessible to state, local, and Indian tribe tax authorities and the Attorney General. Prohibits the delivery of cigarettes or smokeless tobacco unless the excise tax on such products has been paid and any required stamps or other indicia of payment are properly affixed to the products. Allows an exception for states that require delivery sellers to collect the tax from consumers and remit such tax to state or local tax authorities. Requires the Attorney General to compile a list of noncompliant delivery sellers of cigarettes and smokeless tobacco and to distribute such list to state attorneys general and tax administrators and common carriers and other couriers, including the United States Postal Service. Prohibits the delivery of any package to, or on behalf of, a noncompliant delivery seller without determining that such package does not include cigarettes or smokeless tobacco. Makes knowingly violating the Jenkins Act a felony (currently, a misdemeanor). Increases civil penalties for violations to the greater of $5,000 for a first violation or $10,000 for any other violation, or two percent of the gross sales of cigarettes or smokeless tobacco for the year before the violation. Grants federal district courts jurisdiction to prevent and restrain violations of this Act and to provide injunctive or equitable relief, including money damages. Empowers the Attorney General to administer and enforce this Act. Authorizes a state attorney general, a local government, an Indian tribe that levies a tax subject to this Act, or a holder of a permit as a manufacturer or importer of tobacco products or as an export warehouse proprietor (permit holder) to bring an action in U.S. district court to prevent and restrain violations of this Act. Authorizes a state attorney general or such a local government or Indian tribe to provide to the Attorney General or a U.S. Attorney evidence of a violation of this Act by any person not subject to state, local, or tribal government enforcement actions for violations of this Act. Establishes a PACT Anti-Trafficking Fund into which 50% of criminal and civil penalties collected in enforcing this Act shall be deposited and available to the Attorney General to enforce this Act and other laws relating to contraband tobacco products. Requires the Attorney General to make information on enforcement actions publicly available (including on the Internet) and to report to Congress on such actions. (Sec. 3) Amends the federal criminal code to treat cigarettes and smokeless tobacco as nonmailable matter and prohibit their deposit into the U.S. mails. Authorizes the U.S. Postal Service to refuse to accept nonmailable tobacco products and to issue cease and desist orders to anyone mailing such products. Imposes civil penalties for failure to comply with such orders. Exempts from such prohibition: (1) cigars; and (2) mailings within Alaska or Hawaii; (3) mailings for business purposes between legally operating tobacco businesses, and by individuals for noncommercial purposes; or (4) mailings for consumer testing by manufacturers or the federal government. Requires the seizure and forfeiture of any cigarettes or smokeless tobacco illegally deposited into the U.S. mails. Imposes a criminal penalty for intentionally placing nonmailable tobacco products in the U.S. mails. Establishes the PACT Postal Service Fund to which 50% of criminal and civil fines for mailing violations shall be transferred and made available to the Postmaster General to enforce mailing restrictions on cigarettes and smokeless tobacco products. Allows a state, local government, or Indian tribe to obtain appropriate injunctive or equitable relief for mailing violations in a civil action in a U.S. district court. (Sec. 4) Prohibits a tobacco product manufacturer or importer from selling in, delivering to, or placing for delivery sale in a state that is a party to the Master Settlement Agreement (executed November 23, 1998, by state attorneys general and certain tobacco manufacturers) any cigarette of such a manufacturer that is not in full compliance with the terms of the Model Statute or Qualifying Statute enacted by such state. Grants: (1) U.S. district courts jurisdiction to prevent and restrain prohibited sales; and (2) the Attorney General authority to administer and enforce compliance with restrictions on such sales. (Sec. 5) Authorizes the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) to enter the business premises of delivery sellers and inspect their records and information and any cigarettes or smokeless tobacco stored at such premises. Authorizes federal district courts to compel such inspections. Imposes a civil penalty for failure to comply with inspections. (Sec. 6) Declares that nothing in this Act shall be construed to affect, amend, or modify specified agreements or limitations relating to the collection of taxes on, and related matters regarding, cigarettes or smokeless tobacco sold in Indian country or to inhibit the coordination of law enforcement by states or other jurisdictions, including Indian tribes, with respect to interstate sales or seizures of tobacco products. (Sec. 7) Directs the ATF Director to: (1) create six regional contraband trafficking teams over a three-year period in New York City, Washington, D.C., Detroit, Los Angeles, Seattle, and Miami; (2) create a new Tobacco Intelligence Center to oversee and monitor smuggling investigations; (3) establish a covert national warehouse for undercover operations; and (4) create a computer database to track and analyze information from retail sellers of tobacco products who sell through the Internet or mail order or who make other non face-to-face sales. Authorizes appropriations. (Sec. 10) Expresses the sense of Congress that this Act responds to the unique harms posed by online cigarette sales and does not create a precedent for the collection of state sales or use taxes by, or the validity of efforts to impose other types of taxes on, out-of-state entities that do not have a physical presence in the taxing state.

prevent cigarette trafficking act pact act amends act revise provisions governing collection taxes trafficking cigarettes smokeless tobacco sec revises definition cigarette include roll tobacco exclude cigars defines delivery sale mean sale cigarettes smokeless tobacco consumer ordered telephone mails internet online service redefines person include state local indian tribal governments redefines use include consumption storage handling disposal smokeless tobacco addition cigarettes applies state tobacco tax reporting requirements sale advertising sale smokeless tobacco products persons ship transfer cigarettes smokeless tobacco products shipment cigarettes smokeless tobacco locality indian country taxes sale use products requires sellers tobacco products file attorney general reports filed state tobacco tax administrators imposes additional information reporting requirements sellers including disclosure electronic mail addresses website addresses authorized agents service process limits use information received sellers tobacco products solely tax enforcement purposes expands requirements delivery sales requiring delivery seller respect delivery sales specific state place comply specified shipping record keeping requirements state local tribal laws generally applicable sales cigarettes smokeless tobacco delivery sales occurred entirely specific state place including laws imposing excise taxes licensing tax requirements specified tax collection requirements include bill shipping package containing cigarettes smokeless tobacco clear conspicuous statement federal law requires payment applicable excise sales taxes compliance applicable licensing tax obligations comply specified weight age verification requirements records delivery sales organized state years records accessible state local indian tribe tax authorities attorney general prohibits delivery cigarettes smokeless tobacco excise tax products paid required stamps indicia payment properly affixed products allows exception states require delivery sellers collect tax consumers remit tax state local tax authorities requires attorney general compile list noncompliant delivery sellers cigarettes smokeless tobacco distribute list state attorneys general tax administrators common carriers including united_states_postal_service prohibits delivery package behalf noncompliant delivery seller determining package include cigarettes smokeless tobacco makes knowingly violating act felony currently misdemeanor increases civil penalties violations greater violation violation percent gross sales cigarettes smokeless tobacco year violation grants federal district courts jurisdiction prevent restrain violations act provide injunctive equitable relief including money damages empowers attorney general administer enforce act authorizes state attorney general local government indian tribe levies tax subject act holder permit manufacturer importer tobacco products export warehouse permit holder bring action district court prevent restrain violations act authorizes state attorney general local government indian tribe provide attorney general attorney evidence violation act person subject state local tribal government enforcement actions violations act establishes pact anti trafficking fund criminal civil penalties collected enforcing act shall deposited available attorney general enforce act laws relating contraband tobacco products requires attorney general information enforcement actions publicly available including internet report congress actions sec amends federal criminal code treat cigarettes smokeless tobacco nonmailable matter prohibit deposit mails authorizes refuse accept nonmailable tobacco products issue cease desist orders mailing products imposes civil penalties failure comply orders exempts prohibition cigars mailings alaska hawaii mailings business purposes legally operating tobacco businesses individuals noncommercial purposes mailings consumer testing manufacturers federal government requires seizure forfeiture cigarettes smokeless tobacco illegally deposited mails imposes criminal penalty intentionally placing nonmailable tobacco products mails establishes criminal civil fines mailing violations shall transferred available postmaster general enforce mailing restrictions cigarettes smokeless tobacco products allows state local government indian tribe obtain appropriate injunctive equitable relief mailing violations civil action district court sec prohibits tobacco product manufacturer importer selling delivering placing delivery sale state party master settlement agreement executed november state attorneys general certain tobacco manufacturers cigarette manufacturer compliance terms enacted state grants district courts jurisdiction prevent restrain prohibited sales attorney general authority administer enforce compliance restrictions sales sec authorizes explosives atf enter business premises delivery sellers inspect records information cigarettes smokeless tobacco stored premises authorizes federal district courts compel inspections imposes civil penalty failure comply inspections sec declares act shall construed affect amend modify specified agreements limitations relating collection taxes related matters cigarettes smokeless tobacco sold indian country inhibit coordination law enforcement states jurisdictions including indian tribes respect interstate sales seizures tobacco products sec directs atf director create regional contraband trafficking teams year period new_york_city washington detroit los_angeles seattle miami create new tobacco intelligence center oversee monitor smuggling investigations establish covert national warehouse undercover operations create computer database track analyze information retail sellers tobacco products sell internet mail order non face face sales authorizes appropriations sec expresses sense congress act responds unique harms posed online cigarette sales create precedent collection state sales use taxes validity efforts impose types taxes state entities physical presence taxing state


Summary: Comprehensive Transform America Transaction Fee Act of 2009 - Directs the Secretary of the Treasury to conduct an in-depth study on the implementation of a transaction fee in the United States to replace all existing federal taxes. Sets forth guidelines for such study, including: (1) an identification of the transactions to which such fee would apply; (2) exclusions from such fee; (3) the rate of such fee; (4) potential uses for revenue from such fee; (5) progressivity standards; and (6) general matters, including point of liability for such fee and responsibility for collection. Requires the Secretary to report to Congress on the results of such study within one year after the enactment of this Act with a comprehensive analysis of various aspects of the transaction fee, including revenue generation, impact on the national economy, and implementation.

comprehensive transform america transaction fee act directs secretary treasury conduct depth study implementation transaction fee united_states replace existing federal taxes sets forth guidelines study including identification transactions fee apply exclusions fee rate fee potential uses revenue fee standards general matters including point liability fee responsibility collection requires secretary report congress results study year enactment act comprehensive analysis aspects transaction fee including revenue generation impact national economy implementation


Summary: Passport Fee Relief Act of 2009 - Amends the Internal Revenue Code to allow individual taxpayers a tax credit for the cost of obtaining travel documents necessary to comply with the terrorist travel and effective screening plan developed under the Intelligence Reform and Terrorism Prevention Act of 2004 (Western Hemisphere Travel Initiative).

passport fee relief act amends internal revenue code allow individual taxpayers tax credit cost obtaining travel documents necessary comply terrorist travel effective screening plan developed intelligence reform terrorism prevention act western hemisphere travel initiative


Summary: Enterprise Sector Investment Opportunity Act of 2009 - Amends the Internal Revenue Code to exlude from gross income gains from the sale of qualified investment property acquired within 18 months of the enactment of this Act and held for more than two years. Defines "qualified investment property" as stock or equity interest in a domestic corporation or partnership that is a financial institution or automotive company.

enterprise sector investment opportunity act amends internal revenue code gross income gains sale qualified investment property acquired months enactment act held years defines qualified investment property stock equity interest domestic corporation partnership financial institution automotive company


Summary: Investment Property Opportunity Act of 2009 - Amends the Internal Revenue Code to exclude from gross income gain from the sale of residential real property that is: (1) located in a distressed housing area (i.e., a county with high foreclosure rates and declining housing fair market values); (2) acquired within 18 months after enactment of this Act; and (3) held for more than three years.

investment property opportunity act amends internal revenue code exclude gross income gain sale residential real property located distressed housing area county high foreclosure rates declining housing fair market values acquired months enactment act held years


Summary: Working American Competitiveness Act - Amends the Internal Revenue Code to allow a taxpayers to elect to exclude from gross income, without limitation, earned income (i.e., income for services performed) from sources within a foreign country.

allow taxpayers elect exclude gross income limitation earned income income services performed sources foreign country


Summary: American Working Families Tax Relief Act of 2009 - Amends the Internal Revenue Code to make permanent the tax deductions for state and local sales taxes, qualified tuition and related expenses, and mortgage insurance premiums. Modifies the first-time homebuyer tax credit by: (1) allowing all purchasers of a principal residence, not just first-time homebuyers, to claim such credit; (2) eliminating the requirement to repay credit amounts over a 15-year period; and (3) imposing a recapture requirement for taxpayers who dispose of a residence within 36 months after purchase. Extends such credit through December 31, 2009.

amends internal revenue code permanent tax deductions state local sales taxes qualified tuition related expenses mortgage insurance premiums modifies time homebuyer tax credit allowing purchasers principal residence time homebuyers claim credit eliminating requirement repay credit amounts year period imposing recapture requirement taxpayers dispose residence months purchase extends credit december


Summary: Taxpayer Empowerment and Advocacy Act of 2009 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend through FY2014 the spending limits (spending caps) for the discretionary categories in new budget authority and outlays. Revises requirements for adjustments to discretionary spending limits in sequestration reports by the Office of Management and Budget (OMB). Repeals such requirements relating to: (1) continuing disability reviews by the Social Security Administration (SSA); (2) allowances for the International Monetary Fund (IMF) and for specified international arrearages; (3) an Earned Income Tax Credit (EITC) compliance initiative; (4) adoption incentive payments for the Department of Health and Human Services; and (5) conservation spending. Requires that, if legislation is enacted that charges federal agencies for the full cost of accrued federal retirement and health benefits, and a measure is enacted making appropriations that provides new budget authority to carry out such legislation, the adjustment shall be equal to the reduction in mandatory budget authority and outlays estimated resulting from such legislation. Extends Pay-As-You-Go (PAYGO) requirements and enforcement mechanisms through FY2014. Revises formulae for the calculation of a deficit increase or decrease and for elimination of a deficit increase. Requires the Office of Management and Budget (OMB) to assume an automatic deficit increase of $58.160 billion for FY2010 before making a calculation of deficit increase or decrease. Modifies the formula for eliminating a deficit increase. Repeals the limitation on reductions of certain Medicare programs and the increase (if necessary) to the uniform percentage applicable to all other direct spending programs to a level sufficient to achieve the required reduction in direct spending. Assumes non-exempt direct spending accounts to be at the level in the baseline for FY2011, and for FY2012-FY2015 at the baseline after adjusting for any sequester in FY2010. Repeals the exclusion from Congressional Budget Office (CBO) estimates and OMB reports to Congress on emergency legislation of direct spending legislation to cover agricultural crop disaster assistance. (Thus requires the amount of new budget authority, outlays, and receipts of all fiscal years resulting from direct spending legislation to cover such crop disaster assistance.) Modifies the baseline to exclude certain emergency appropriations and emergency spending legislation. Amends the Congressional Budget Act of 1974 to make it out of order to consider in the Senate or House any legislation that contains an emergency designation under the Gramm-Rudman-Hollings Act unless it meets a specified new definition of "emergency" set out in the Congressional Budget and Impoundment Control Act of 1974. Makes it out of order to consider in the House a rule or order that waives such application.

amends balanced_budget emergency deficit control act gramm rudman hollings act extend fy2014 spending limits spending caps discretionary categories new budget authority outlays revises requirements adjustments discretionary spending limits sequestration reports office_of_management_and_budget omb repeals requirements relating continuing disability reviews social_security_administration ssa allowances international_monetary_fund imf specified international arrearages earned income tax credit eitc compliance initiative adoption incentive payments department_of_health_and_human_services conservation spending requires legislation enacted charges federal agencies cost accrued federal retirement health benefits measure enacted making appropriations provides new budget authority carry legislation adjustment shall equal reduction mandatory budget authority outlays estimated resulting legislation extends pay paygo requirements enforcement mechanisms fy2014 revises formulae calculation deficit increase decrease elimination deficit increase requires office_of_management_and_budget omb assume automatic deficit increase billion fy2010 making calculation deficit increase decrease modifies formula eliminating deficit increase repeals limitation reductions certain medicare programs increase necessary uniform percentage applicable direct spending programs level sufficient achieve required reduction direct spending assumes non exempt direct spending accounts level baseline fy2011 fy2012 fy2015 baseline adjusting sequester fy2010 repeals exclusion congressional_budget_office cbo estimates omb reports congress emergency legislation direct spending legislation cover agricultural crop disaster assistance requires new budget authority outlays receipts fiscal years resulting direct spending legislation cover crop disaster assistance modifies baseline exclude certain emergency appropriations emergency spending legislation amends congressional_budget_act order consider senate house legislation contains emergency designation gramm rudman hollings act meets specified new definition emergency set congressional_budget impoundment control act makes order consider house rule order waives application


Summary: Amends the Internal Revenue Code to increase the limit on the deductibility of losses from the sale or exchange of capital assets for individual taxpayers to $10,000, adjusted for inflation after 2009 ($5,000 for married individuals filing a separate tax return).

amends internal revenue code increase limit deductibility losses sale exchange capital assets individual taxpayers adjusted inflation married individuals filing separate tax return


Summary: Social Security Forever Act of 2009 - Amends the Internal Revenue Code to impose on employers, employees, and self-employed individuals an additional employment tax for wages in excess of the social security contribution and benefit base. Requires all Treasury securities to bear a facsimile of the signatures of the President and the Secretary of the Treasury.

amends internal revenue code impose employers employees self employed individuals additional employment tax wages excess social security contribution benefit base requires treasury securities bear facsimile signatures president secretary treasury


Summary: Federal Withholding Tax Repeal Act of 2009 - Repeals provisions of the Internal Revenue Code requiring withholding of income, social security, and railroad retirement taxes from wages.

repeal act repeals provisions internal revenue code requiring withholding income social security railroad retirement taxes wages


Summary: Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas.

amends internal revenue code respect taxation shareholders controlled foreign corporations permanently extend subpart exemption excludes income shareholder foreign personal holding company income active financing insurance banking financing similar businesses income earned business operations overseas


Summary: Permanent Death Tax Repeal Act of 2009 - Makes permanent the provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) that repeal the estate and generation skipping transfer taxes and that make reductions in the gift tax.

permanent death tax repeal act makes permanent provisions economic_growth_and_tax_relief_reconciliation_act egtrra repeal estate generation skipping transfer taxes reductions gift tax


Summary: Amends the Internal Revenue Code to increase the limit on the deductibility of losses from the sale or exchange of capital assets for individual taxpayers to $10,500, adjusted for inflation after 2009 (50% of such amount for married individuals filing a separate tax return).


Summary: Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 eliminating the estate tax and related carryover basis provisions (thus restoring such tax after 2009). Amends the Internal Revenue Code to: (1) increase the estate tax unified credit to $4 million; and (2) reduce the maximum estate tax rate to 40%.

repeals provisions economic_growth_and_tax_relief_reconciliation_act eliminating estate tax related carryover basis provisions restoring tax amends internal revenue code increase estate tax unified credit million reduce maximum estate tax rate


Summary: Amends the Emergency Economic Stabilization Act of 2008 (EESA) to grant any financial institution that has received or receives a direct capital investment under the Troubled Asset Relief Program (TARP) the right to repay it immediately. Requires the Secretary of the Treasury to accept such a payment unconditionally.

amends emergency economic stabilization act eesa grant financial institution received receives direct capital investment troubled_asset_relief_program tarp right repay immediately requires secretary treasury accept payment


Summary: Sensible Estate Tax Act of 2009 - Repeals provisions of the Economic Growth and Tax Reconciliation Act of 2001 relating to the estate and gift tax. Amends the Internal Revenue Code to: (1) allow an estate tax exclusion of $2 million adjusted for inflation in calendar years after 2010; (2) revise the estate tax rates for larger estates; (3) restore the estate tax credit for state estate, inheritance, legacy, or succession taxes; (4) restore the unified credit against the gift tax; and (5) allow a surviving spouse an increase in the unified estate tax credit by the amount of any unused credit of a deceased spouse.

sensible estate tax act repeals provisions relating estate gift tax amends internal revenue code allow estate tax exclusion million adjusted inflation calendar years revise estate tax rates larger estates restore estate tax credit state estate inheritance legacy succession taxes restore unified credit gift tax allow surviving spouse increase unified estate tax credit unused credit deceased spouse


Summary: Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require that assistance repayments from Troubled Asset Relief Program (TARP) funds be used to pay down the public debt.

amends emergency economic stabilization act eesa require assistance repayments troubled_asset_relief_program tarp funds pay public debt


Summary: Religious Freedom Peace Tax Fund Act of 2009 - Directs the Secretary of the Treasury to establish in the Treasury the Religious Freedom Peace Tax Fund for the deposit of income, gift, and estate taxes paid by or on behalf of taxpayers: (1) who are designated conscientious objectors opposed to participation in war in any form based upon their deeply held moral, ethical, or religious beliefs or training (within the meaning of the Military Selective Service Act); and (2) who have certified their beliefs in writing to the Secretary. Requires that: (1) amounts deposited in the Fund be allocated annually to any appropriation not for a military purpose; (2) the Secretary report to the House and Senate Appropriations Committees on the total amount transferred into the Fund during the preceding fiscal year and the purposes for which such amount was allocated; and (3) the privacy of individuals using the Fund be protected. Expresses the sense of Congress that any revenue increase resulting from the creation of the Fund be allocated in a manner consistent with its purposes.

religious freedom peace tax fund act directs secretary treasury establish treasury religious freedom peace tax fund deposit income gift estate taxes paid behalf taxpayers designated conscientious opposed participation war form based held moral ethical religious beliefs training meaning military_selective_service_act certified beliefs writing secretary requires amounts deposited fund allocated annually appropriation military purpose secretary report house senate_appropriations_committees total transferred fund preceding fiscal year purposes allocated privacy individuals fund protected expresses sense congress revenue increase resulting creation fund allocated manner consistent purposes


Summary: Plastic Bag Reduction Act of 2009 - Amends the Internal Revenue Code to require retailers to pay an excise tax on single-use carryout bags. Allows refunds of such tax for retailers who have a program for recycling such bags. Establishes in the Treasury the Single-Use Carryout Bag Trust Fund to hold tax revenues generated by this Act. Directs the Secretary of the Treasury to make payments from such Trust Fund into the land and water conservation fund provided for in the Land and Water Conservation Fund Act of 1965. Directs the Comptroller General to study and report to Congress on the effectiveness of this Act in reducing the use of single-use carryout bags.

plastic bag reduction act amends internal revenue code require retailers pay excise tax single use bags allows refunds tax retailers program recycling bags establishes treasury single use bag trust fund hold tax revenues generated act directs secretary treasury payments trust fund land water conservation fund provided land water conservation fund act directs comptroller general study report congress effectiveness act reducing use single use bags


Summary: Fiscal Honesty and Accountability Act of 2009 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend Pay-As-You-Go (PAYGO) requirements through FY2014 and enforcement mechanisms through FY2018. Requires the Directors of the Congressional Budget Office (CBO) and of the Office of Management and Budget (OMB) each to report to the House Committee on the Budget on how to broaden the PAYGO sequestration base and make it more fair and equitable. Extends through FY2013 the spending limits (spending caps) for the discretionary categories in new budget authority and outlays. Amends the Congressional Budget and Impoundment Control Act of 1974 to address issues of emergency spending by requiring: (1) Committee on the Budget guidelines; (2) a separate House vote on an emergency designation; and (3) detailed reserve funds for emergencies in the President's budget request to Congress. Prescribes a procedure for adjustments in committee allocations resulting from such spending in joint budget resolutions. Amends the Congressional Budget Act of 1974 (CBA) to prohibit floor amendments to amendments reported by the Committee on the Budget (or from the consideration of which the Committee has been discharged) with respect to legislation for emergency reserve funds for certain military operations. Prohibits consideration of an amendment to a joint budget resolution which changes the amount of budget authority and outlays set forth in the CBA for the emergency reserve fund. Requires reports on legislation which provide new budget, spending, or credit authority, or otherwise provide an increase or decrease in revenues or tax expenditures, to include a CBO projection of the cost of debt servicing (interest). Amends the CBA concerning: (1) CBO cost analysis (scoring) for conference reports; (2) legislation which evades specified budget enforcement mechanisms; and (3) legislation which is unreported by committee (for purposes of budget point of order rules). Amends the Rules of the House of Representatives concerning: (1) budget compliance statements (permitting inclusion of budgetary implications); (2) requirements for budget act waivers (inclusion mandatory for bill consideration); and (3) a separate vote to waive a major budget act point of order.

fiscal honesty accountability act amends balanced_budget emergency deficit control act gramm rudman hollings act extend pay paygo requirements fy2014 enforcement mechanisms fy2018 requires directors congressional_budget_office cbo office_of_management_and_budget omb report broaden paygo sequestration base fair equitable extends fy2013 spending limits spending caps discretionary categories new budget authority outlays amends congressional_budget impoundment control act address issues emergency spending requiring committee budget guidelines separate house vote emergency designation detailed reserve funds emergencies president budget request congress prescribes procedure adjustments committee allocations resulting spending joint budget resolutions amends congressional_budget_act cba prohibit floor amendments amendments reported consideration committee discharged respect legislation emergency reserve funds certain military operations prohibits consideration amendment joint budget resolution changes budget authority outlays set forth cba emergency reserve fund requires reports legislation provide new budget spending credit authority provide increase decrease revenues tax expenditures include cbo projection cost debt servicing interest amends cba concerning cbo cost analysis scoring conference reports legislation evades specified budget enforcement mechanisms legislation unreported committee purposes budget point order rules amends rules house_of_representatives concerning budget compliance statements permitting inclusion budgetary implications requirements budget act waivers inclusion mandatory bill consideration separate vote waive major budget act point order


Summary: Interagency Council on Homelessness Reform Act of 2009 - Amends the McKinney-Vento Homeless Assistance Act to declare that the mission of the U.S. Interagency Council on Homelessness is to: (1) coordinate the federal response to homelessness; and (2) create a national partnership at every level of government and with the private sector to reduce and end homelessness in the nation while maximizing the effectiveness of federal contributions to end homelessness. Adds to the membership of such Council the Commissioner of Social Security, the U.S. Attorney General, and the Director of the Office of Management and Budget (OMB), or their respective designees. Requires: (1) the Council to meet quarterly (currently, annually); and (2) rotation of the position of Chairperson and Vice Chairperson at the first meeting of each year. Requires the President (currently, the Council) to appoint an Executive Director of the Council, with the advice and consent of the Senate, to serve at the pleasure of the President Directs the Council to develop, make available for public comment, and submit to the President and Congress a biennial national plan to end homelessness for all Americans. Requires the Council to: (1) develop constructive alternatives to criminalizing homelessness and eliminate laws and policies that prohibit sleeping, feeding, sitting, resting, or lying in public spaces when there are no suitable alternatives; (2) evaluate the federal role in interacting and coordinating with state and local entities that address homelessness; and (3) conduct research and develop methods to improve pre-existing coordination between it and federal agencies.

interagency council homelessness reform act amends mckinney-vento homeless assistance act declare mission coordinate federal response homelessness create national partnership level government private sector reduce end homelessness nation maximizing effectiveness federal contributions end homelessness adds membership council commissioner social_security attorney general director office_of_management_and_budget omb respective designees requires council meet quarterly currently annually rotation position chairperson vice chairperson meeting year requires president currently council appoint executive director council advice consent senate serve pleasure president directs council develop available public comment submit president congress biennial national plan end homelessness americans requires council develop constructive alternatives criminalizing homelessness eliminate laws policies prohibit sleeping feeding sitting lying public spaces suitable alternatives evaluate federal role coordinating state local entities address homelessness conduct research develop methods improve pre existing coordination federal agencies


Summary: Amends the Internal Revenue Code to extend through 2011 the standard deduction for state and local real property taxes.

amends internal revenue code extend standard deduction state local real property taxes


Summary: Amends the Internal Revenue Code to suspend the penalty on underpayments of tax due to negligence, disregard of rules or regulations, or substantial inaccuracies for individuals who receive unemployment compensation in 2008 or 2009.

amends internal revenue code suspend penalty underpayments tax negligence disregard rules regulations substantial inaccuracies individuals receive unemployment compensation


Summary: Amends the Internal Revenue Code to provide for accelerated depreciation of certain energy-efficient heating, ventilation, air conditioning, or commercial refrigeration property installed in nonresidential real property or residential rental property and placed in service before January 1, 2013.

amends internal revenue code provide accelerated depreciation certain energy efficient heating ventilation air conditioning commercial refrigeration property installed nonresidential real property residential rental property placed service january


Summary: Amends the Internal Revenue Code to allow individual taxpayers an exclusion from gross income for certain items of partnership and S corporation pass-thru income up to $250,000 ($500,000 for married couples filing joint returns).

amends internal revenue code allow individual taxpayers exclusion gross income certain items partnership corporation pass income married couples filing joint returns


Summary: State Tax Administration Assistance Act of 2009 - Amends the Internal Revenue Code to permit a state to offset state income tax obligations owed by nonresidents against any federal income tax refunds due to such nonresidents if such state has in effect a reciprocal agreement with the Secretary of the Treasury that allows an offset of federal income tax obligations against state tax refunds.

amends internal revenue code permit state offset state income tax obligations owed nonresidents federal income tax refunds nonresidents state effect reciprocal agreement secretary treasury allows offset federal income tax obligations state tax refunds


Summary: Tax Compromise Improvement Act of 2009 - Amends the Internal Revenue Code to repeal the requirement that taxpayers make a 20% partial payment of tax liabilities when submitting offers-in-compromise of such liabilities to the Internal Revenue Service (IRS).

tax compromise improvement act amends internal revenue code repeal requirement taxpayers partial payment tax liabilities submitting offers compromise liabilities internal_revenue_service irs


Summary: State Sales Tax Relief Act - Amends the Internal Revenue Code to extend through 2010 the taxpayer election to deduct state and local general sales taxes in lieu of state and local income taxes.

state sales tax relief act amends internal revenue code extend taxpayer election deduct state local general sales taxes lieu state local income taxes


Summary: State Sales Equity Relief Act - Amends the Internal Revenue Code to extend through 2010 the taxpayer election to deduct state and local general sales taxes in lieu of state and local income taxes.

state sales equity relief_act_-_amends internal revenue code extend taxpayer election deduct state local general sales taxes lieu state local income taxes


Summary: Amends the Internal Revenue Code to exclude from gross income qualified personal indebtedness. Defines "qualified personal indebtedness" as any indebtedness of an individual other than trade or business debts, student loans, mortgages, or debts discharged in bankruptcy.

amends internal revenue code exclude gross income qualified personal indebtedness defines qualified personal indebtedness indebtedness individual trade business debts student loans mortgages debts discharged bankruptcy


Summary: Net Operating Loss (NOL) Carryback Act - Amends the Internal Revenue Code to allow a five-year carryback of net operating losses, including the operating losses of life insurance companies, incurred in 2008 and 2009. Denies such extended loss carryover period to: (1) taxpayers in whom the federal government acquires an equity interest under the Emergency Economic Stabilization Act of 2008; (2) the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (3) members of certain affiliated groups.

net operating loss internal revenue code allow year carryback net operating losses including operating losses life insurance companies incurred denies extended loss carryover period taxpayers federal government acquires equity interest emergency_economic_stabilization_act federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac members certain affiliated groups


Summary: Allows, for a two-year period, any financing approved under title V of the Small Business Investment Act of 1958 (Small Business Administration [SBA] guaranteed small business loans) to include debt refinancing relating to a conventional loan that is not SBA-guaranteed, if certain conditions are met.

allows year period financing approved title small_business_investment_act small_business_administration sba guaranteed small business loans include debt refinancing relating conventional loan sba guaranteed certain conditions met


Summary: Timber Revitalization and Economic Enhancement Act of 2009 - Amends the Internal Revenue Code to make permanent: (1) the reduction in the rate of tax on the net timber gain of corporations; and (2) rules for the treatment of timber real estate investment trust (REIT) gains, mineral royalty income, and prohibited transactions.

timber revitalization economic enhancement act amends internal revenue code permanent reduction rate tax net timber gain corporations rules treatment timber real estate investment trust reit gains mineral royalty income prohibited transactions


Summary: Telecommuters Tax Fairness Act of 2009 - Prohibits a state from imposing an income tax on the compensation of a nonresident individual for any period in which such individual is not physically present in or working in such state or from deeming such nonresident individual to be present in or working in such state on the grounds that: (1) such individual is present at or working at home for convenience; or (2) such individual's work at home fails any convenience of the employer test or any similar test.

tax fairness act prohibits state imposing income tax compensation nonresident individual period individual physically present working state deeming nonresident individual present working state grounds individual present working home convenience individual work home fails convenience employer test similar test


Summary: New Markets Tax Credit Extension Act of 2009 - Amends the Internal Revenue Code to: (1) extend the new markets tax credit through 2013; (2) provide for an inflation adjustment to the limitation amount for such credit after 2009; and (3) allow an offset against the alternative minimum tax (AMT) for such credit.

new_markets_tax_credit_extension_act amends internal revenue code extend new markets tax credit provide inflation adjustment limitation credit allow offset alternative minimum tax amt credit