To amend the Internal Revenue Code of 1986 to exclude from gross income any interest paid on an overpayment of tax in the case of an individual or small business.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill adds or tightens a compliance mandate provision: 2. Interest received on overpayments Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting before section 140 the following and adds or tightens a compliance mandate provision: 139J. Interest received on tax overpayments In the case of an individual or an eligible small business described in section 44(b)(1), gross income shall not include any. It relies on compliance mandates. The main policy areas are Finance.
Who Benefits and How
The available clause analysis does not identify a specific beneficiary group.
Who Bears the Burden and How
No clear private burden is identified from the available clause analysis; implementing agencies may still take on administrative work.
Key Provisions
- Adds or tightens a compliance mandate provision: 2. Interest received on overpayments Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting before section 140 the following...
- Adds or tightens a compliance mandate provision: 139J. Interest received on tax overpayments In the case of an individual or an eligible small business described in section 44(b)(1), gross income shall not include any...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for primary purpose and policy domains.
At a Glance
What This Bill Does
The bill adds or tightens a compliance mandate provision: 2. Interest received on overpayments Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting before section 140 the following and adds or tightens a compliance mandate provision: 139J. Interest received on tax overpayments In the case of an individual or an eligible small business described in section 44(b)(1), gross income shall not include any.
Key Policy Areas
Finance
Primary Purpose
The bill adds or tightens a compliance mandate provision: 2. Interest received on overpayments Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting before section 140 the following and adds or tightens a compliance mandate provision: 139J. Interest received on tax overpayments In the case of an individual or an eligible small business described in section 44(b)(1), gross income shall not include any.
Policy Domains
Sponsors
Legislative Progress
IntroducedMr. Vindman (for himself and Mrs. Kim) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology