Bill
Bill > HR2943
US HR2943
US HR2943To amend the Internal Revenue Code of 1986 to allow retroactive elective deferrals for owners of unincorporated businesses in the case of a plan adopted after the close of the taxable year and before the time for filing the return of tax.
summary
Introduced
04/30/2021
04/30/2021
In Committee
04/30/2021
04/30/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to allow retro- active elective deferrals for owners of unincorporated businesses in the case of a plan adopted after the close of the taxable year and before the time for filing the return of tax.
AI Summary
This bill amends the Internal Revenue Code to allow owners of unincorporated businesses who are the sole employees of their business to make retroactive elective deferrals to their retirement plan. This means they can contribute to their retirement plan up until the time they file their tax return, even if the plan was adopted after the close of the taxable year. The amendment applies to plan years beginning after December 31, 2021.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to the House Committee on Ways and Means. (on 04/30/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/2943/all-info |
| BillText | https://www.congress.gov/117/bills/hr2943/BILLS-117hr2943ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr2943/BILLS-117hr2943ih.pdf.pdf |
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