Click any annotated section or its icon to see analysis.
Referenced Laws
chapter 1
Section 1
1. Short title This Act may be cited as the Cutting Paperwork for Taxpayers Act.
Section 2
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 new section: In the case of an individual or an eligible small business described in section 44(b)(1), gross income shall not include any interest allowed and paid upon an overpayment of tax pursuant to section 6611. The table of contents for Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting before the item relating to section 140 the following new item: The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this section. 139J.Interest received on tax overpaymentsIn the case of an individual or an eligible small business described in section 44(b)(1), gross income shall not include any interest allowed and paid upon an overpayment of tax pursuant to section 6611.. 139J. Interest received on tax overpayments..
Section 3
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 interest allowed and paid upon an overpayment of tax pursuant to section 6611.