Armed Forces Deferred Tax Relief Act

I 116TH CONGRESS 2D SESSION H. R. 8690 To direct the Secretary of Defense to compensate members of the Armed Forces for certain taxes deferred pursuant to Internal Revenue Service Notice 2020–65. IN THE HOUSE OF REPRESENTATIVES OCTOBER 27, 2020 Mr. HASTINGS introduced the following bill; which was referred to the Com- mittee on Armed Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdic- tion of the committee concerned A BILL To direct the Secretary of Defense to compensate members of the Armed Forces for certain taxes deferred pursuant to Internal Revenue Service Notice 2020–65. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Armed Forces De- 4 ferred Tax Relief Act’’. 5 VerDate Sep 11 2014 19:28 Nov 17, 2020 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H8690.IH H8690 pamtmann on DSKBC07HB2PROD with BILLS 2 •HR 8690 IH SEC. 2. COMPENSATION OF MEMBERS OF THE ARMED 1 FORCES FOR CERTAIN TAXES DEFERRED 2 PURSUANT TO INTERNAL REVENUE SERVICE 3 NOTICE 2020–65. 4 In the case of a member of the Armed Forces whose 5 taxes were deferred pursuant to Internal Revenue Service 6 Notice 2020–65, if such deferred taxes are withheld by 7 the Secretary of Defense during the period beginning on 8 January 1, 2021, and ending on April 30, 2021, the Sec- 9 retary shall (contemporaneous with such withholding) 10 make a payment to such member in an amount equal to 11 the deferred tax so withheld. Any payment under this sec- 12 tion shall be excluded from gross income of the member 13 and exempt from taxation under any provision of Federal 14 law. 15 Æ VerDate Sep 11 2014 19:28 Nov 17, 2020 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H8690.IH H8690 pamtmann on DSKBC07HB2PROD with BILLS