,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #aafb  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #aa1 #bjai,mr4  
,cruz 7= himself1 ,ms4 ,ern/1 ,mrs4     
,blackburn1 ,mr4 ,cram]1 & ,mr4 ,braun7 
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to make p]man5t ! 
individual tax provisions ( ! tax re=m  
law1 & = o!r purposes4  #a4 ,p]man5t    
modification ( individual rate brackets 
7a7 ,m>ri$ individuals fil+ jo9t returns
 & surviv+ sp\ses ,! table conta9$ 9    
subsection 7a7 ( section #a ( ! ,int]nal
 ,rev5ue ,code ( #aihf is am5d$ to read 
z foll[s3  ,if taxable income is3,! tax 
is3,n ov] #ai1jejaj ( taxable           
income4,ov] #ai1jej b n ov]             
#gg1djja1ije1 plus #ab ( ! excess ov]   
#ai1jej4,ov] #gg1djj b n ov]            
#afe1jjjh1ijg1 plus #bb ( ! excess ov]  
#gg1djj4,ov] #afe1jjj b n ov]           
#cae1jjjbh1agi1 plus #bd ( ! excess ov] 
#afe1jjj4,ov] #cae1jjj b n ov]          

#djj1jjjfd1agi1 plus #cb ( ! excess ov] 
#cae1jjj4,ov] #djj1jjj b n ov]          
#fjj1jjjia1cgi1 plus #ce ( ! excess ov] 
#djj1jjj4,ov] #fjj1jjjafa1cgi1 plus #cg 
( ! excess ov] #fjj1jjj4 4  7b7 ,heads (
 h\seholds ,! table conta9$ 9 subsection
 7b7 ( section #a ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$ to read z foll[s3
  ,if taxable income is3,! tax is3,n ov]
 #ac1fjjaj ( taxable income4,ov] #ac1fjj
 b n ov] #ea1hjja1cfj1 plus #ab ( !     
excess ov] #ac1fjj4,ov] #ea1hjj b n ov] 
#hb1ejje1idd1 plus #bb ( ! excess ov]   
#ea1hjj4,ov] #hb1ejj b n ov]            
#aeg1ejjab1fih1 plus #bd ( ! excess ov] 
#hb1ejj4,ov] #aeg1ejj b n ov]           
#bjj1jjjcj1fih1 plus #cb ( ! excess ov] 
#aeg1ejj4,ov] #bjj1jjj b n ov]          
#ejj1jjjdd1bih1 plus #ce ( ! excess ov] 
#bjj1jjj4,ov] #ejj1jjjadi1bih1 plus #cg 
( ! excess ov] #ejj1jjj4 4  7c7 ,unm>ri$
 individuals o!r ?an surviv+ sp\ses &   
heads ( h\seholds ,! table conta9$ 9    
subsection 7c7 ( section #a ( ! ,int]nal
 ,rev5ue ,code ( #aihf is am5d$ to read 

z foll[s3  ,if taxable income is3,! tax 
is3,n ov] #i1ebeaj ( taxable income4,ov]
 #i1ebe b n ov] #ch1gjjieb4ej1 plus #ab 
( ! excess ov] #i1ebe4,ov] #ch1gjj b n  
ov] #hb1ejjd1dec4ej1 plus #bb ( ! excess
 ov] #ch1gjj4,ov] #hb1ejj b n ov]       
#aeg1ejjad1jhi4ej1 plus #bd ( ! excess  
ov] #hb1ejj4,ov] #aeg1ejj b n ov]       
#bjj1jjjcb1jhi4ej1 plus #cb ( ! excess  
ov] #aeg1ejj4,ov] #bjj1jjj b n ov]      
#ejj1jjjde1fhi4ej1 plus #ce ( ! excess  
ov] #bjj1jjj4,ov] #ejj1jjjaej1fhi4ej1   
plus #cg ( ! excess ov] #ejj1jjj4 4  7d7
 ,m>ri$ individuals fil+ sep>ate returns
 ,! table conta9$ 9 subsection 7d7 (    
section #a ( ! ,int]nal ,rev5ue ,code ( 
#aihf is am5d$ to read z foll[s3  ,if   
taxable income is3,! tax is3,n ov]      
#i1ebeaj ( taxable income4,ov] #i1ebe b 
n ov] #ch1gjjieb4ej1 plus #ab ( ! excess
 ov] #i1ebe4,ov] #ch1gjj b n ov]        
#hb1ejjd1dec4ej1 plus #bb ( ! excess ov]
 #ch1gjj4,ov] #hb1ejj b n ov]           
#aeg1ejjad1jhi4ej1 plus #bd ( ! excess  
ov] #hb1ejj4,ov] #aeg1ejj b n ov]       

#bjj1jjjcb1jhi4ej1 plus #cb ( ! excess  
ov] #aeg1ejj4,ov] #bjj1jjj b n ov]      
#cjj1jjjde1fhi4ej1 plus #ce ( ! excess  
ov] #bjj1jjj4,ov] #cjj1jjjhj1fhi4ej1    
plus #cg ( ! excess ov] #cjj1jjj4 4  7e7
 ,e/ates & tru/s ,! table conta9$ 9     
subsection 7e7 ( section #a ( ! ,int]nal
 ,rev5ue ,code ( #aihf is am5d$ to read 
z foll[s3  ,if taxable income is3,! tax 
is3,n ov] #b1eejaj ( taxable income4,ov]
 #b1eej b n ov] #i1aejbee1 plus #bd ( ! 
excess ov] #b1eej4,ov] #i1aej b n ov]   
#ab1ejja1hci1 plus #ce ( ! excess ov]   
#i1aej4,ov] #ab1ejjc1jaa4ej1 plus #cg ( 
! excess ov] #ab1ejj4 4  7f7 ,adju/m5t =
 inflation ,subsection 7f7 ( section #a 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$-- 7#a7 by /rik+ #aiic 9 p>agraph  
7#a7 & ins]t+ #bjah1  7#b7 by /rik+     
det]m9$-- & all t foll[s 9 p>agraph     
7#b77;,a7 & ins]t+ det]m9$ by sub/itut+ 
#bjag = #bjaf 9 p>agraph 7#c77;,a77ii711
  7#c7 by /rik+ a m>ri$ individual fil+ 
a sep>ate return 9 p>agraph 7#g77;,b7 & 
ins]t+ any unm>ri$ individual o!r ?an a 

surviv+ sp\se or head ( h\sehold1  7#d7 
by /rik+ m>ri$ individuals fil+         
sep>ately 9 ! head+ ( subp>agraph 7,b7 (
 p>agraph 7#g7 & ins]t+ c]ta9 unm>ri$   
individuals1 &  7#e7 by /rik+ p>agraph  
7#h74  7g7 ,special rules = c]ta9 *ildr5
 ) une>n$ income ,subsection 7g7 (      
section #a ( ! ,int]nal ,rev5ue ,code ( 
#aihf is am5d$-- 7#a7 by /rik+ p>agraphs
 7#a71 7#c71 & 7#e71  7#b7 by r$esignat+
 p>agraphs 7#d71 7#f71 & 7#g7 z         
p>agraphs 7#e71 7#g71 & 7#h71           
respectively1  7#c7 by r$esignat+       
p>agraph 7#b7 z p>agraph 7#f7 & by mov+ 
su* p>agraph to ! position betwe5       
p>agraphs 7#e7 & 7#g7 7z s r$esignat$71 
7#d7 by ins]t+ be=e p>agraph 7#e7 7z s  
r$esignat$7 ! foll[+ new p>agraphs3     
7#a7 ,9 g5]al ,9 ! case ( a *ild to :om 
?is subsection applies = ! taxable ye>1 
! am\nt ( tax impos$ by ?is section on  
su* *ild %all be det]m9$ z provid$ 9    
p>agraphs 7#b7 & 7#c74  7#b7            
,modifications to applicable rate       
brackets ,! income tax table o!rwise    

applicable "u ?is section to ! *ild %all
 be appli$ ) ! foll[+ modifications3    
7,a7 #bd-p]c5t bracket ,! maximum       
taxable income :i* is tax$ at a rate    
bel[ #bd p]c5t %all n be m ?an ! sum (--
  7i7 ! e>n$ taxable income ( su* *ild1 
plus  7ii7 ! m9imum taxable income = !  
#bd-p]c5t bracket 9 ! table "u          
subsection 7e7 7z adju/$ "u subsection  
7f77 = ! taxable ye>4  7,b7 #ce-p]c5t   
bracket ,! maximum taxable income :i* is
 tax$ at a rate bel[ #ce p]c5t %all n be
 m ?an ! sum (--  7i7 ! e>n$ taxable    
income ( su* *ild1 plus  7ii7 ! m9imum  
taxable income = ! #ce-p]c5t bracket 9 !
 table "u subsection 7e7 7z adju/$ "u   
subsection 7f77 = ! taxable ye>4  7,c7  
#cg-p]c5t bracket ,! maximum taxable    
income :i* is tax$ at a rate bel[ #cg   
p]c5t %all n be m ?an ! sum (--  7i7 !  
e>n$ taxable income ( su* *ild1 plus    
7ii7 ! m9imum taxable income = !        
#cg-p]c5t bracket 9 ! table "u          
subsection 7e7 7z adju/$ "u subsection  
7f77 = ! taxable ye>4  7#c7 ,coord9ation

 ) capital ga9s rates ,= purposes (     
apply+ subsection 7h7-- 7,a7 ! maximum  
z]o rate am\nt %all n be m ?an ! sum (--
  7i7 ! e>n$ taxable income ( su* *ild1 
plus  7ii7 ! am\nt 9 effect "u          
subsection 7h77#ab77;,a77iv7 = ! taxable
 ye>1 &  7,b7 ! maximum #ae-p]c5t rate  
am\nt %all n be m ?an ! sum (-- 7i7 !   
e>n$ taxable income ( su* *ild1 plus    
7ii7 ! am\nt 9 effect "u subsection     
7h77#ab77;,b77iv7 = ! taxable ye>4  7#d7
 ,e>n$ taxable income ,= purposes ( ?is 
subsection1 ! t]m e>n$ taxable income   
means1 ) respect to any *ild = any      
taxable ye>1 ! taxable income ( su* *ild
 r$uc$ 7b n bel[ z]o7 by ! net une>n$   
income ( su* *ild4  1 &  7#e7 by /rik+  
p>agraph 7#d77;,a77ii77,i7 ea* place x  
appe>s 9 subp>agraphs 7,a77ii71 7,b77i71
 & 7,b77ii77,,ii7 ( p>agraph 7#h7 7z s  
r$esignat$7 & ins]t+ p>agraph           
7#e77;,a77ii77,i74  7h7 ,capital ga9s   
brackets ,subsection 7h7 ( section #a ( 
! ,int]nal ,rev5ue ,code ( #aihf is     
am5d$-- 7#a7 by /rik+ :i* w\ld 7)\t     

reg>d to ?is p>agraph7 be tax$ at a rate
 bel[ #be p]c5t 9 p>agraph 7#a77;,b77i7 
& ins]t+ bel[ ! maximum z]o rate am\nt1 
7#b7 by /rik+ :i* w\ld 7)\t reg>d to ?is
 p>agraph7 be tax$ at a rate bel[ #ci4f 
p]c5t 9 p>agraph 7#a77;,c77ii77,i7 &    
ins]t+ bel[ ! maximum #ae-p]c5t rate    
am\nt1 &  7#c7 by add+ at ! end ! foll[+
 new p>agraph3  7#ab7 ,maximum am\nts   
def9$ ,= purposes ( ?is subsection--    
7,a7 ,maximum z]o rate am\nt ,! maximum 
z]o rate am\nt %all be--  7i7 9 ! case (
 a jo9t return or surviv+ sp\se1        
#gg1bjj1  7ii7 9 ! case ( an individual 
:o is a head ( h\sehold 7z def9$ 9      
section #b7;b771 #ea1gjj1  7iii7 9 !    
case ( any o!r individual 7o!r ?an an   
e/ate or tru/71 an am\nt equal to  ( !  
am\nt 9 effect = ! taxable ye> "u clause
 7i71 &  7iv7 9 ! case ( an e/ate or    
tru/1 #b1fjj4  7,b7 ,maximum #ae-p]c5t  
rate am\nt ,! maximum #ae-p]c5t rate    
am\nt %all be-- 7i7 9 ! case ( a jo9t   
return or surviv+ sp\se1 #dgi1jjj 7 su* 
am\nt 9 ! case ( a m>ri$ individual fil+

 a sep>ate return71  7ii7 9 ! case ( an 
individual :o is ! head ( a h\sehold 7z 
def9$ 9 section #b7;b771 #deb1djj1      
7iii7 9 ! case ( any o!r individual 7o!r
 ?an an e/ate or tru/71 #dbe1hjj1 &     
7iv7 9 ! case ( an e/ate or tru/1       
#ab1gjj4  7,c7 ,inflation adju/m5t ,9 ! 
case ( any taxable ye> beg9n+ aft]      
#bjah1 ea* ( ! doll> am\nts 9           
subp>agraphs 7,a7 & 7,b7 %all be        
increas$ by an am\nt equal to--  7i7 su*
 doll> am\nt1 multipli$ by  7ii7 !      
co/-(-liv+ adju/m5t det]m9$ "u          
subsection 7f77#c7 = ! cal5d> ye> 9 :i* 
! taxable ye> beg9s1 det]m9$ by         
sub/itut+ cal5d> ye> #bjag = cal5d> ye> 
#bjaf 9 subp>agraph 7,a77ii7 !re(4  ,if 
any increase "u ?is subp>agraph is n a  
multiple ( #ej1 su* increase %all be    
r\nd$ to ! next l[e/ multiple ( #ej4  4 
7i7 ,con=m+ am5dm5ts  7#a7 ,section #a (
 ! ,int]nal ,rev5ue ,code ( #aihf is    
am5d$ by /rik+ subsections 7i7 & 7j74   
7#b7 ,section #cdjb7q77#a7 ( su* ,code  
is am5d$ by /rik+ ?ird l[e/ & ins]t+    

f\r? l[e/4  7j7 ,section #ae n ,to apply
 ,section #ae ( ! ,int]nal ,rev5ue ,code
 ( #aihf %all n apply to any *ange 9 a  
rate ( tax by reason ( ?is section4  7k7
 ,effective date ,! am5dm5ts made by ?is
 section %all apply to taxable ye>s     
beg9n+ aft] ,decemb] #ca1 #bjah4  #b4   
,p]man5t ext5sion ( d$uction = qualifi$ 
bus9ess income ( pass-?ru entities  7a7 
,9 g5]al ,section #aii;,a ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
subsection 7i74  7b7 ,effective date ,! 
am5dm5t made by ?is section %all apply  
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjag4  #c4 ,p]man5t ext5sion (    
limitation on losses = taxpay]s o!r ?an 
corporations  7a7 ,9 g5]al ,p>agraph    
7#a7 ( section #dfa7l7 ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ to read z
 foll[s3  7#a7 ,limitation ,9 ! case (  
taxable ye> ( a taxpay] o!r ?an a       
corporation1 any excess bus9ess loss ( !
 taxpay] = ! taxable ye> %all n be      
all[$4  4  7b7 ,con=m+ am5dm5t ,section 
#dfa ( ! ,int]nal ,rev5ue ,code ( #aihf 

is am5d$ by /rik+ subsection 7j7 7relat+
 to limitation on excess f>m losses (   
c]ta9 taxpay]s74  7c7 ,effective date ,!
 am5dm5ts made by ?is section %all apply
 to taxable ye>s beg9n+ aft] ,decemb]   
#ca1 #bjag4  #d4 ,p]man5t ext5sion (    
increase 9 /&>d d$uction  7a7 ,9 g5]al  
,section #fc7;c77#b7 ( ! ,int]nal       
,rev5ue ,code ( #aihf is am5d$--  7#a7  
by /rik+ #d1djj 9 subp>agraph 7,b7 &    
ins]t+ #ah1hjj1 &  7#b7 by /rik+ #c1jjj 
9 subp>agraph 7,c7 & ins]t+ #ab1jjj4    
7b7 ,inflation adju/m5t ,p>agraph 7#d7 (
 section #fc7;c7 ( ! ,int]nal ,rev5ue   
,code ( #aihf is am5d$ to read z foll[s3
  7#d7 ,adju/m5ts = inflation  7,a7 ,9  
g5]al ,9 ! case ( any taxable ye> beg9n+
 9 a cal5d> ye> aft] #bjah1 ! #ah1jjj & 
#ab1jjj am\nts 9 subp>agraph 7,a7 %all  
ea* be increas$ by an am\nt equal to--  
7i7 su* doll> am\nt1 multipli$ by  7ii7 
! co/-(-liv+ adju/m5t det]m9$ "u section
 #a7;f77#c7 = ! cal5d> ye> 9 :i* !      
taxable ye> beg9s1 by sub/itut+ #bjag = 
#bjaf 9 subp>agraph 7,a77ii7 !re(4  7,b7

 ,c]ta9 am\nts ,9 ! case ( any taxable  
ye> beg9n+ 9 a cal5d> ye> aft] #aihh1   
ea* doll> am\nt conta9$ 9 p>agraph 7#e7 
or subsection 7f7 %all be increas$ by an
 am\nt equal to--  7i7 su* doll> am\nt1 
multipli$ by  7ii7 ! co/-(-liv+ adju/m5t
 det]m9$ "u section #a7;f77#c7 = !      
cal5d> ye> 9 :i* ! taxable ye> beg9s1 by
 sub/itut+ = cal5d> ye> #bjaf 9         
subp>agraph 7,a77ii7 !re(--  7,i7 cal5d>
 ye> #aihg 9 ! case ( ! doll> am\nts    
conta9$ 9 p>agraph 7#e77;,a7 or         
subsection 7f71 &  7,,ii7 cal5d> ye>    
#aiig 9 ! case ( ! doll> am\nt conta9$ 9
 p>agraph 7#e77;,b74  4  7c7 ,con=m+    
am5dm5t ,section #fc7;c7 ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
p>agraph 7#g74  7d7 ,effective date ,!  
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjag4  #e4 ,p]man5t increase &    
modification ( *ild tax cr$it  7a7      
,increase 9 cr$it am\nt ,section #bd7;a7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by /rik+ #a1jjj & ins]t+ #b1jjj4  

7b7 ,limitation ,p>agraph 7#b7 ( section
 #bd7;b7 ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ to read z foll[s3  7#b7  
,?re%old am\nt ,= purposes ( p>agraph   
7#a71 ! t]m ?re%old am\nt means-- 7,a7  
#djj1jjj 9 ! case ( a jo9t return1 &    
7,b7 #bjj1jjj 9 any o!r case4  4  7c7   
,p>tial cr$it all[$ = c]ta9 o!r dep5d5ts
 ,subsection 7h7 ( section #bd ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
to read z foll[s3  7h7 ,p>tial cr$it    
all[$ = c]ta9 o!r dep5d5ts  7#a7 ,9     
g5]al ,! cr$it det]m9$ "u subsection 7a7
 %all be increas$ by #ejj = ea* dep5d5t 
( ! taxpay] 7z def9$ 9 section #ggjf7   
o!r ?an a qualify+ *ild describ$ 9      
subsection 7c74  7#b7 ,exception = c]ta9
 noncitiz5s ,p>agraph 7#a7 %all n apply 
) respect to any individual :o w\ld n be
 a dep5d5t if subp>agraph 7,a7 ( section
 #ggjf7;b77#c7 7 appli$ )\t reg>d to all
 t foll[s resid5t ( ! ,unit$ ,/ates4    
7#c7 ,c]ta9 qualify+ *ildr5 ,9 ! case ( 
any qualify+ *ild ) respect to :om a    
cr$it is n all[$ "u ?is section by      

reason ( subsection 7e77#a71 su* *ild   
%all be treat$ z a dep5d5t to :om       
subp>agraph 7,a7 applies4  4  7d7       
,maximum am\nt ( refundable cr$it       
,subsection 7d7 ( section #bd ( !       
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] p>agraph 7#b7 ! foll[+   
new p>agraph3  7#c7 ,limitation  7,a7 ,9
 g5]al ,! am\nt det]m9$ "u p>agraph     
7#a77;,a7 ) respect to any qualify+ *ild
 %all n exce$ #a1djj1 & su* p>agraph    
%all be appli$ )\t reg>d to subsection  
7h74  7,b7 ,adju/m5t = inflation ,9 !   
case ( a taxable ye> beg9n+ aft] #bjah1 
! #a1djj am\nt 9 subp>agraph 7,a7 %all  
be increas$ by an am\nt equal to--  7i7 
su* doll> am\nt1 multipli$ by  7ii7 !   
co/-(-liv+ adju/m5t det]m9$ "u section  
#a7;f77#c7 = ! cal5d> ye> 9 :i* !       
taxable ye> beg9s1 det]m9$ by sub/itut+ 
#bjag = #bjaf 9 subp>agraph 7,a77ii7    
!re(4  ,if any increase "u ?is clause is
 n a multiple ( #ajj1 su* increase %all 
be r\nd$ to ! next l[e/ multiple ( #ajj4
  4  7e7 ,e>n$ income ?re%old =         

refundable cr$it ,section               
#bd7;d77#a77;,b7 ( ! ,int]nal ,rev5ue   
,code ( #aihf is am5d$ by /rik+ #c1jjj &
 ins]t+ #b1ejj4  7f7 ,social ,security  
numb] requir$ ,p>agraph 7#a7 ( section  
#bd7;e7 ( ! ,int]nal ,rev5ue ,code (    
#aihf is am5d$ to read z foll[s3  7#a7  
,qualify+ *ild ,social security numb]   
requirem5t ,no cr$it %all be all[$ "u   
?is section to a taxpay] ) respect to   
any qualify+ *ild unless ! taxpay]      
includes ! "n & social security numb] ( 
su* *ild on ! return ( tax = ! taxable  
ye>4 ,= purposes ( ! prec$+ s5t5ce1 !   
t]m social security numb] means a social
 security numb] issu$ to an individual  
by ! ,social ,security ,adm9i/ration1 b 
only if ! social security numb] is      
issu$--  7,a7 to a citiz5 ( ! ,unit$    
,/ates or pursuant to subclause 7,i7 7or
 t portion ( subclause 7,,iii7 t relates
 to subclause 7,i77 ( section           
#bje7;c77#b77;,b77i7 ( ! ,social        
,security ,act1 &  7,b7 be=e ! due date 
= su* return4  4  7g7 ,effective date ,!

 am5dm5ts made by ?is section %all apply
 to taxable ye>s beg9n+ aft] ,decemb]   
#ca1 #bjag4  #f4 ,p]man5t ext5sion (    
increas$ limitation = c]ta9 *>itable    
contributions  7a7 ,9 g5]al ,section    
#agj7;b77#a77;,g7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$-- 7#a7 by /rik+ =
 any taxable ye> beg9n+ aft] ,decemb]   
#ca1 #bjag1 & be=e ,janu>y #a1 #bjbf1 9 
clause 7i71  7#b7 by /rik+ = any taxable
 ye> describ$ 9 su* clause 9 clause     
7ii71 &  7#c7 by /rik+ ,= ea* taxable   
ye> describ$ 9 clause 7i71 & ea* taxable
 ye> to :i* any contribution "u ?is     
subp>agraph is c>ri$ ov] "u clause 7ii71
 subp>agraph 7,a7 9 clause 7iii7 &      
ins]t+ ,subp>agraph 7,a74  7b7          
,effective date ,! am5dm5ts made by ?is 
section %all apply to contributions 9   
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjbe4  #g4 ,p]man5t ext5sion ( increas$
 contributions to ,,able acc\nts  7a7 ,9
 g5]al ,section #ebi;,a7b77#b77;,b77ii7 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$ by /rik+ be=e ,janu>y #a1 #bjbf4  

7b7 ,all[ance ( sav]s cr$it ,section    
#be;,b7d77#a77;,d7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by /rik+ be=e    
,janu>y #a1 #bjbf14  7c7 ,effective date
 ,! am5dm5ts made by ?is section %all   
apply to taxable ye>s beg9n+ aft] ! date
 ( ! enactm5t ( ?is ,act4  #h4 ,p]man5t 
ext5sion ( rollov]s to ,,able programs f
 #ebi programs  7a7 ,9 g5]al ,section   
#ebi7;c77#c77;,c77i77,,iii7 is am5d$ by 
/rik+ be=e ,janu>y #a1 #bjbf14  7b7     
,effective date ,! am5dm5ts made by ?is 
section %all apply to di/ributions made 
aft] ! date ( ! enactm5t ( ?is ,act4    
#i4 ,p]man5t ext5sion ( treatm5t ( c]ta9
 individuals p]=m+ s]vices 9 ! ,s9ai    
,p59sula ( ,egypt  7a7 ,9 g5]al         
,subsection 7c7 ( section #aajbf (      
,public ,law #aae-ig is am5d$-- 7#a7 by 
/rik+ beg9n+ be=e ,janu>y #a1 #bjbf 9   
p>agraph 7#a77;,b71 &  7#b7 by /rik+    
beg9n+ be=e ,janu>y #a1 #bjbf 9 p>agraph
 7#b77;,b74  7b7 ,effective date ,!     
am5dm5ts made by ?is section %all take  
effect on ! date ( ! enactm5t ( ?is     

,act4  #aj4 ,p]man5t ext5sion ( r$uction
 9 m$ical exp5se d$uction floor  7a7    
,r$uction  7#a7 ,9 g5]al ,section       
#bac7;a7 ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by /rik+ #aj p]c5t &     
ins]t+ #g4e p]c5t4  7#b7 ,con=m+ am5dm5t
 ,section #bac ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$ by /rik+         
subsection 7f74  7b7 ,repeal ( m9imum   
tax pref]5ce ,section #ef7;b77#a7 ( !   
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ subp>agraph 7,b74  7c7         
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjaf4  #aa4  
,p]man5t ext5sion ( treatm5t ( /ud5t    
loans dis*>g$ on acc\nt ( dea? or       
disability  7a7 ,9 g5]al ,subp>agraph   
7,a7 ( section #ajh7;f77#e7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf is am5d$ by /rik+
 & be=e ,janu>y #a1 #bjbf14  7b7        
,effective date ,! am5dm5t made by ?is  
section %all apply to dis*>ges (        
indebt$ness aft] ,decemb] #ca1 #bjag4   
#ab4 ,repeal ( d$uction = p]sonal       

exemptions  7a7 ,9 g5]al ,"p ,v (       
sub*apt] ,b ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is h]eby repeal$4 
7b7 ,def9ition ( dep5d5t reta9$ ,section
 #aeb ( ! ,int]nal ,rev5ue ,code (      
#aihf1 prior to repeal by subsection    
7a71 is h]eby r$esignat$ z section #ggjf
 ( su* ,code & mov$ to ! end ( *apt] #gi
 ( su* ,code4  7c7 ,application to      
e/ates & tru/s ,subp>agraph 7,c7 (      
section #fdb7;b77#b7 ( ! ,int]nal       
,rev5ue ,code ( #aihf is am5d$-- 7#a7 by
 /rik+ ! exemption am\nt "u section     
#aea7;d7 9 clause 7i7 & ins]t+ #d1aej1 &
  7#b7 by /rik+ clause 7iii7 & ins]t+ ! 
foll[+3  7iii7 ,inflation adju/m5t ,9 ! 
case ( any taxable ye> beg9n+ 9 a cal5d>
 ye> aft] #bjah1 ! #d1aej am\nt 9 clause
 7i7 %all be increas$ by an am\nt equal 
to--  7,i7 su* doll> am\nt1 multipli$ by
  7,,ii7 ! co/-(-liv+ adju/m5t det]m9$  
"u section #a7;f77#c7 = ! cal5d> ye> 9  
:i* ! taxable beg9s1 det]m9$ by         
sub/itut+ #bjag = #bjaf 9 subp>agraph   
7,a77ii7 !re(4  ,if any increase det]m9$

 "u ! prec$+ s5t5ce is n a multiple (   
#ajj1 su* increase %all be r\nd$ to !   
next l[e/ multiple ( #ajj4  4  7d7      
,application to nonresid5t ali5s        
,section #hgc7;b7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$ by /rik+ p>agraph
 7#c74  7e7 ,modification ( return      
requirem5t  7#a7 ,9 g5]al ,section #fjab
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$--  7,a7 by /rik+ p>agraph 7#a7 (  
subsection 7a7 & ins]t+ ! foll[+3  7#a7 
,e individual :o has gross income = !   
taxable ye>1 except t a return %all n be
 requir$ (--  7,a7 an individual :o is n
 m>ri$ 7det]m9$ by apply+ section #ggjc7
 & :o has gross income = ! taxable ye>  
:i* does n exce$ ! /&>d d$uction        
applicable to su* individual = su*      
taxable ye> "u section #fc1 or  7,b7 an 
individual entitl$ to make a jo9t return
 if-- 7i7 ! gross income ( su*          
individual1 :5 comb9$ ) ! gross income (
 su* individual's sp\se1 = ! taxable ye>
 does n exce$ ! /&>d d$uction :i* w\ld  
be applicable to ! taxpay] = su* taxable

 ye> "u section #fc if su* individual & 
su* individual's sp\se made a jo9t      
return1  7ii7 su* individual & su*      
individual's sp\se h ! same h\sehold z  
_! home at ! close ( ! taxable ye>1     
7iii7 su* individual's sp\se does n make
 a sep>ate return1 &  7iv7 nei!r su*    
individual nor su* individual's sp\se is
 an individual describ$ 9 section       
#fc7;c77#b7 :o has income 7o!r ?an e>n$ 
income7 9 excess ( ! am\nt 9 effect "u  
section #fc7;c77#b77;,a74  1 &  7,b7 by 
/rik+ subsection 7f74  7#b7 ,bankruptcy 
e/ates ,p>agraph 7#h7 ( section         
#fjab7;a7 ( su* ,code is am5d$ by /rik+ 
! sum ( ! exemption am\nt plus ! basic  
/&>d d$uction "u section                
#fc7;c77#b77;,d7 & ins]t+ ! /&>d        
d$uction 9 effect "u section            
#fc7;c77#a77;,b74  7f7 ,con=m+ am5dm5ts 
7#a7 ,section #b7;a77#a77;,b7 ( !       
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ a dep5d5t & all t foll[s ?r\gh 
section #aea & ins]t+ a dep5d5t :o 7)9 !
 mean+ ( section #ggjf1 det]m9$ )\t     

reg>d to subsections 7b77#a71 7b77#b71 &
 7d77#a77;,b7 !re(7 is a son1 /epson1   
daught]1 or /epdaught] ( ! taxpay]4     
7#b7 ,section #cf;,b7b77#b77;,a7 ( su*  
,code is am5d$ by /rik+ section #aeb &  
ins]t+ section #ggjf4  7#c7 ,section    
#cf;,b7b77#c77;,b7 ( su* ,code is am5d$ 
by /rik+ unless a d$uction is all[$ "u  
section #aea = ! taxable ye> ) respect  
to a dep5d5t 9 ! flu% matt] at ! end &  
ins]t+ unless ! taxpay] has a dep5d5t = 
! taxable ye>4  7#d7 ,section           
#cf;,b7c77#a77;,d7 ( su* ,code is am5d$ 
by /rik+ ) respect to :om a d$uction "u 
section #aea is all[able to ano!r       
taxpay] & ins]t+ :o is a dep5d5t ( ano!r
 taxpay]4  7#e7 ,section #cf;,b7d77#a7 (
 su* ,code is am5d$ by /rik+ equal to ! 
numb] ( individuals = :om ! taxpay] is  
all[$ a d$uction "u section #aea 7relat+
 to all[ance ( d$uction = p]sonal       
exemptions7 = ! taxable ye> & ins]t+ !  
sum ( #a 7#b 9 ! case ( a jo9t return7  
plus ! numb] ( ! taxpay]'s dep5d5ts = ! 
taxable ye>4  7#f7 ,section             

#cf;,b7e77#a7 ( su* ,code is am5d$ by   
/rik+ #a or m individuals = :om a       
taxpay] is all[$ a d$uction "u section  
#aea 7relat+ to all[ance ( d$uction =   
p]sonal exemptions7 = ! taxable ye>     
7includ+ ! taxpay] or 8 sp\se7 & ins]t+ 
#a or m ( ! taxpay]1 ! taxpay]'s sp\se1 
or any dep5d5t ( ! taxpay]4  7#g7       
,section #db7;i77#c77;,d77ii77,i7 ( su* 
,code is am5d$-- 7,a7 by /rik+ section  
#aeb & ins]t+ section #ggjf1 &  7,b7 by 
/rik+ ! p]iod at ! end & ins]t+ a comma4
  7#h7 ,section #fc7;b7 ( su* ,code is  
am5d$ by /rik+ m9us-- & all t foll[s &  
ins]t+ m9us ! /&>d d$uction44  7#i7     
,section #fc7;d7 ( su* ,code is am5d$ by
 /rik+ o!r ?an-- & all t foll[s & ins]t+
 o!r ?an ! d$uctions all[able 9 arriv+  
at adju/$ gross income44  7#aj7 ,section
 #gb7t77#b77;,d77i77,,iii7 ( su* ,code  
is am5d$ by /rik+ section #aeb & ins]t+ 
section #ggjf4  7#aa7 ,section          
#gb7t77#g77;,a77iii7 ( su* ,code is     
am5d$ by /rik+ section #aeb7;f77#a7 &   
ins]t+ section #ggjf7;f77#a74  7#ab7    

,section #aje7;b7 ( su* ,code is am5d$--
  7,a7 by /rik+ z def9$ 9 section #aeb &
 ins]t+ z def9$ 9 section #ggjf1  7,b7  
by /rik+ section #aeb7;f77#a7 & ins]t+  
section #ggjf7;f77#a71 &  7,c7 by /rik+ 
section #aeb7;e7 & ins]t+ section       
#ggjf7;e74  7#ac7 ,section #aje7;c77#a7 
( su* ,code is am5d$ by /rik+ section   
#aeb & ins]t+ section #ggjf4  7#ad7     
,section #abe7;e77#a77;,d7 ( su* ,code  
is am5d$ by /rik+ section #aeb & ins]t+ 
section #ggjf4  7#ae7 ,section #abi7;c7 
( su* ,code is am5d$--  7,a7 by /rik+ ) 
respect to :om1 = su* taxable ye>1 a    
d$uction is all[able "u section #aea7;c7
 7relat+ to p]sonal exemptions =        
dep5d5ts7 to 9 p>agraph 7#a7 & ins]t+ :o
 is a dep5d5t (1 &  7,b7 by /rik+       
section #aeb7;f77#a7 9 p>agraph 7#b7 &  
ins]t+ section #ggjf7;f77#a74  7#af7    
,section #acb7;h77#b77;,b7 ( su* ,code  
is am5d$--  7,a7 by /rik+ section       
#aeb7;f77#a7 & ins]t+ section           
#ggjf7;f77#a71 &  7,b7 by /rik+ section 
#aeb7;e7 & ins]t+ section #ggjf7;e74    

7#ag7 ,section #aci;,d7c77#e7 ( su*     
,code is am5d$ by /rik+ section #aeb &  
ins]t+ section #ggjf4  7#ah7 ,section   
#afb7l77#a77;,d7 ( su* ,code is am5d$ by
 /rik+ section #aeb7;f77#a7 & ins]t+    
section #ggjf7;f77#a74  7#ai7 ,section  
#agj7;g77#a7 ( su* ,code is am5d$ by    
/rik+ section #aeb & ins]t+ section     
#ggjf4  7#bj7 ,section #agj7;g77#c7 (   
su* ,code is am5d$ by /rik+ section     
#aeb7;d77#b7 & ins]t+ section           
#ggjf7;d77#b74  7#ba7 ,section #agb7;d7 
( su* ,code is am5d$ by /rik+ p>agraph  
7#c74  7#bb7 ,section #bbj7;b77#f7 ( su*
 ,code is am5d$ by /rik+ ) respect to   
:om a d$uction "u section #aea is       
all[able to & ins]t+ :o is a dep5d5t (4 
7#bc7 ,section #bbj7;d77#b77;,a7 ( su*  
,code is am5d$ by /rik+ section #aeb &  
ins]t+ section #ggjf4  7#bd7 ,section   
#bbc7;b77#f7 ( su* ,code is am5d$ by    
/rik+ ) respect to :om a d$uction "u    
section #aea is all[able to & ins]t+ :o 
is a dep5d5t (4  7#be7 ,section         
#bbc7;d77#b77;,a7 ( su* ,code is am5d$  

by /rik+ section #aeb & ins]t+ section  
#ggjf4  7#bf7 ,section #dja7;h7 ( su*   
,code is am5d$ by /rik+ section         
#aeb7;f77#a7 9 ! la/ s5t5ce & ins]t+    
section #ggjf7;f77#a74  7#bg7 ,section  
#djb7l77#d77;,d7 ( su* ,code is am5d$ by
 /rik+ section #aeb & ins]t+ section    
#ggjf4  7#bh7 ,section                  
#dji;,a7a77#b77;,b77ii77,i7 ( su* ,code 
is am5d$ by /rik+ section #aeb7;a7 &    
ins]t+ section #ggjf7;a74  7#bi7        
,section #eja7;c77#i7 ( su* ,code is    
am5d$ by /rik+ section #aeb7;f77#a7 &   
ins]t+ section #ggjf7;f77#a74  7#cj7    
,section #ebi7;e77#b77;,b7 ( su* ,code  
is am5d$ by /rik+ section #aeb7;d77#b7 &
 ins]t+ section #ggjf7;d77#b74  7#ca7   
,section #gjc7;a77#b7 ( su* ,code is    
am5d$ by /rik+ subp>agraph 7,a7 & by    
r$esignat+ subp>agraphs 7,b7 ?r\gh 7,f7 
z subp>agraphs 7,a7 ?r\gh 7,e71         
respectively4  7#cb7 ,section #hgd ( su*
 ,code is am5d$ by /rik+ subsection 7b7 
& by r$esignat+ subsection 7c7 z        
subsection 7b74  7#cc7 ,section #hia (  

su* ,code is am5d$ by /rik+ "u section  
#aea &4  7#cd7 ,section #ijd7;b7 ( su*  
,code is am5d$ by /rik+ p>agraph 7#a74  
7#ce7 ,section #ica7;b77#a7 ( su* ,code 
is am5d$ by /rik+ 7o!r ?an ! d$uction "u
 section #aea1 relat+ to p]sonal        
exemptions74  7#cf7 ,section #icc ( su* 
,code is am5d$--  7,a7 by /rik+ 7o!r ?an
 ! d$uction "u section #aea1 relat+ to  
p]sonal exemptions7 9 p>agraph 7#a71 &  
7,b7 by /rik+ 7o!r ?an ! d$uction =     
p]sonal exemptions "u section #aea7 9   
p>agraph 7#b74  7#cg7 ,section          
#abab7;b77#b77;,b77ii7 ( su* ,code is   
am5d$ to read z foll[s3  7ii7 9 ! case (
 an e/ate or tru/1 ! d$uction all[$ =   
su* ye> "u section #fdb7;b74  4  7#ch7  
,section #acfa7;c77#a77;,c7 ( su* ,code 
is am5d$ by /rik+ section               
#aeb7;f77#a77;,c7 & ins]t+ section      
#ggjf7;f77#a77;,c74  7#ci7 ,section     
#adjb7;a7 ( su* ,code is am5d$ by /rik+ 
p>agraph 7#g74  7#dj7 ,section          
#bjcb;,a7c77#g77;,d7 ( su* ,code is     
am5d$ by /rik+ section #aeb7;f77#b7 &   

ins]t+ section #ggjf7;f77#b74  7#da7    
,section #cdjb7m77#a7 ( su* ,code is    
am5d$ by /rik+ o!r ?an ! d$uctions      
ref]r$ to 9 section #aea &4  7#db7      
,section #cdjb7r77#b7 ( su* ,code is    
am5d$ by /rik+ ! sum (-- & all t foll[s 
& ins]t+ ! /&>d d$uction 9 effect "u    
section #fc7;c77#a77;,b744  7#dc7       
,section #ejjj;,a7b77#c77;,a7 ( su*     
,code is am5d$ by /rik+ section #aeb &  
ins]t+ section #ggjf4  7#dd7 ,section   
#ejjj;,a7c77#d77;,a7 ( su* ,code is     
am5d$ by /rik+ ! numb] ( individuals =  
:om ! taxpay] is all[$ a d$uction "u    
section #aea 7relat+ to all[ance (      
d$uction = p]sonal exemptions7 = !      
taxable ye> & ins]t+ ! sum ( #a 7#b 9 ! 
case ( a jo9t return7 plus ! numb] ( !  
taxpay]'s dep5d5ts = ! taxable ye>4     
7#de7 ,section #fjac7;b77#c77;,a7 ( su* 
,code is am5d$-- 7,a7 by /rik+ _h less  
?an ! exemption am\nt ( gross income 9  
clause 7ii7 & ins]t+ _h no gross income1
  7,b7 by /rik+ _h gross income ( !     
exemption am\nt or m 9 clause 7iii7 &   

ins]t+ _h any gross income1 &  7,c7 by  
/rik+ ! flu% language foll[+ clause     
7iii74  7#df7 ,section                  
#fajc7l77#ba77;,a77iii7 ( su* ,code is  
am5d$ to read z foll[s3  7iii7 ! numb] (
 ! taxpay]'s dep5d5ts1  4  7#dg7        
,section #fbac7;g77#b7 ( su* ,code is   
am5d$ by /rik+ subp>agraph 7,h74  7#dh7 
,section #fccd7;d77#b7 ( su* ,code is   
am5d$ to read z foll[s3  7#b7 ,exempt   
am\nt  7,a7 ,9 g5]al ,= purposes (      
p>agraph 7#a71 ! t]m exempt am\nt means 
an am\nt equal to-- 7i7 ! sum ( ! am\nt 
det]m9$ "u subp>agraph 7,b7 & ! /&>d    
d$uction1 divid$ by  7ii7 #eb4  7,b7    
,am\nt det]m9$ ,= purposes ( subp>agraph
 7,a71 ! am\nt det]m9$ "u ?is           
subp>agraph is #d1aej multipli$ by !    
numb] ( ! taxpay]'s dep5d5ts = ! taxable
 ye> 9 :i* ! levy occurs4  7,c7         
,inflation adju/m5t ,9 ! case ( any     
taxable ye> beg9n+ aft] #bjah1 ! #d1aej 
am\nt 9 subp>agraph 7,b7 %all be        
increas$ by an am\nt equal to--  7i7 su*
 doll> am\nt1 multipli$ by  7ii7 !      

co/-(-liv+ adju/m5t det]m9$ "u section  
#a7;f77#c7 = ! cal5d> ye> 9 :i* !       
taxable ye> beg9s1 by sub/itut+ cal5d>  
ye> #bjag = cal5d> ye> #bjaf 9          
subp>agraph 7,a7 !re(4  ,if any increase
 det]m9$ "u ! prec$+ s5t5ce is n a      
multiple ( #ajj1 su* increase %all be   
r\nd$ to ! next l[e/ multiple ( #ajj4   
7,d7 ,v]ifi$ /atem5t ,unless ! taxpay]  
submits to ! ,secret>y a writt5 &       
prop]ly v]ifi$ /atem5t specify+ ! facts 
necess>y to det]m9e ! prop] am\nt "u    
subp>agraph 7,a71 subp>agraph 7,a7 %all 
be appli$ z if ! taxpay] 7 a m>ri$      
individual fil+ a sep>ate return ) no   
dep5d5ts4  4  7#di7 ,section            
#ggjb;,b7f77#b77;,c77iii7 ( su* ,code is
 am5d$ by /rik+ section #aeb7;d77#b7 &  
ins]t+ section #ggjf7;d77#b74  7#ej7    
,section #ggjc7;a7 ( su* ,code is am5d$ 
by /rik+ "p ,v ( sub*apt] ,b ( *apt] #a 
&4  7#ea7 ,section #ggjc7;b77#a7 ( su*  
,code is am5d$ by /rik+ section         
#aeb7;f77#a7 & all t foll[s & ins]t+    
section #ggjf7;f77#a714  7#eb7 ,section 

#ggjf7;a7 ( su* ,code1 z r$esignat$ by  
?is section1 is am5d$ by /rik+ ?is      
subtitle & ins]t+ subtitle ,a4  7#ec7   
7,a7 ,section #ggjf7;d77#a77;,b7 ( su*  
,code1 z r$esignat$ by ?is section1 is  
am5d$ by /rik+ ! exemption am\nt 7z     
def9$ 9 section #aea7;d77 & ins]t+      
#d1aej4  7,b7 ,section #ggjf7;d7 ( su*  
,code1 z r$esignat$ by ?is section1 is  
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#f7 ,inflation adju/m5t ,9 !
 case ( any cal5d> ye> beg9n+ aft]      
#bjah1 ! #d1aej am\nt 9 p>agraph        
7#a77;,b7 %all be increas$ by an am\nt  
equal to--  7,a7 su* doll> am\nt1       
multipli$ by  7,b7 ! co/-(-liv+ adju/m5t
 det]m9$ "u section #a7;f77#c7 = su*    
cal5d> ye>1 det]m9$ by sub/itut+ cal5d> 
ye> #bjag = cal5d> ye> #bjaf 9          
subp>agraph 7,a77ii7 !re(4  ,if any     
increase det]m9$ "u ! prec$+ s5t5ce is n
 a multiple ( #ajj1 su* increase %all be
 r\nd$ to ! next l[e/ multiple ( #ajj4  
4  7#ed7 ,! table ( sections = *apt] #gi
 ( su* ,code is am5d$ by add+ at ! end !

 foll[+ new item3  ,sec4 #ggjf4 ,dep5d5t
 def9$4  4  7g7 ,effective date ,!      
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjag4  #ac4 ,p]man5t ext5sion (   
limitation on d$uction = ,/ate & local1 
etc41 taxes  7a7 ,9 g5]al ,p>agraph 7#f7
 ( section #afd7;b7 ( ! ,int]nal ,rev5ue
 ,code ( #aihf is am5d$--  7#a7 by /rik+
 1 & be=e ,janu>y #a1 #bjbf1 &  7#b7 by 
/rik+ #bjah ?r\gh #bjbe 9 ! head+ &     
ins]t+ aft] #bjag4  7b7 ,effective date 
,! am5dm5ts made by ?is section %all    
apply to taxable ye>s beg9n+ aft]       
,decemb] #ca1 #bjaf4  #ad4 ,p]man5t     
ext5sion ( limitation on d$uction =     
qualifi$ resid5ce int]e/  7a7 ,repeal ( 
home equity indebt$ness  7#a7 ,9 g5]al  
,section #afc7;h77#c77;,a7 ( ! ,int]nal 
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
dur+ ! taxable ye> on & all t foll[s    
?r\gh ,= purposes ( & ins]t+ dur+ !     
taxable ye> on acquisition indebt$ness )
 respect to any qualifi$ pr9cipal       
resid5ce ( ! taxpay]4 ,= purposes (4    

7#b7 ,con=m+ am5dm5t ,section           
#afc7;h77#c7 ( su* ,code is am5d$ by    
/rik+ subp>agraph 7,c74  7b7 ,limitation
 on acquisition indebt$ness  7#a7 ,9    
g5]al ,section #afc7;h77#c77;,b77ii7 ( !
 ,int]nal ,rev5ue ,code ( #aihf is am5d$
 by /rik+ #a1jjj1jjj 7#ejj1jjj & ins]t+ 
#gej1jjj 7#cge1jjj4  7#b7 ,treatm5t (   
indebt$ness incurr$ on or be=e ,decemb] 
#ca1 #bjag2 ref9anc+s ,section          
#afc7;h77#c7 ( ! ,int]nal ,rev5ue ,code 
( #aihf1 z am5d$ by subsection 7a77#b71 
is am5d$ by ins]t+ aft] subp>agraph 7,b7
 ! foll[+ new subp>agraph3  7,c7        
,treatm5t ( indebt$ness incurr$ on or   
be=e ,decemb] #ae1 #bjag2 ref9anc+s  7i7
 ,9 g5]al ,9 ! case ( any indebt$ness   
incurr$ on or be=e ,decemb] #ae1 #bjag1 
subp>agraph 7,b77ii7 %all apply z 9     
effect imm$iately be=e ! enactm5t ( !   
,public ,law #aae-ig1 &1 9 apply+ su*   
subp>agraph to any indebt$ness incurr$  
aft] su* date1 ! limitation "u su*      
subp>agraph %all be r$uc$ 7b n bel[ z]o7
 by ! am\nt ( any indebt$ness incurr$ on

 or be=e ,decemb] #ae1 #bjag1 :i* is    
treat$ z acquisition indebt$ness =      
purposes ( ?is subsection = ! taxable   
ye>4  7ii7 ,b9d+ contract exception ,9 !
 case ( a taxpay] :o ent]s into a writt5
 b9d+ contract be=e ,decemb] #ae1 #bjag1
 to close on ! pur*ase ( a pr9cipal     
resid5ce be=e ,janu>y #a1 #bjah1 & :o   
pur*ases su* resid5ce be=e ,april #a1   
#bjah1 subclause 7,,iii7 %all be appli$ 
by sub/itut+ ,april #a1 #bjah = ,decemb]
 #ae1 #bjag4  7iii7 ,treatm5t (         
ref9anc+s ( indebt$ness  7,i7 ,9 g5]al  
,9 ! case ( any indebt$ness :i* is      
incurr$ to ref9ance indebt$ness1 su*    
ref9anc$ indebt$ness %all be treat$ =   
purposes ( clause 7i7 z incurr$ on !    
date t ! orig9al indebt$ness 0 incurr$  
to ! ext5t ! am\nt ( ! indebt$ness      
result+ f su* ref9anc+ does n exce$ !   
am\nt ( ! ref9anc$ indebt$ness4  7,,ii7 
,limitation on p]iod ( ref9anc+         
,subclause 7,i7 %all n apply to any     
indebt$ness aft] ! expiration ( ! t]m ( 
! orig9al indebt$ness or1 if ! pr9cipal 

( su* orig9al indebt$ness is n amortiz$ 
ov] its t]m1 ! expiration ( ! t]m ( !   
#a/ ref9anc+ ( su* indebt$ness 7or if   
e>li]1 ! date :i* is #cj ye>s aft] !    
date ( su* #a/ ref9anc+74  4  7c7       
,coord9ation ) exclusion ( income f     
dis*>ge ( indebt$ness ,section          
#ajh7;h77#b7 ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$ by /rik+ #a1jjj1jjj    
7#ejj1jjj & ins]t+ #gej1jjj 7#cge1jjj4  
7d7 ,con=m+ am5dm5ts ,section           
#afc7;h77#c7 ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$--  7#a7 9 ! head+ (    
subp>agraph 7,d77ii71 by /rik+          
#a1jjj1jjj1 &  7#b7 by /rik+ subp>agraph
 7,f74  7e7 ,effective date ,! am5dm5ts 
made by ?is section %all apply to       
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjag4  #ae4 ,p]man5t ext5sion (        
modifications to d$uction = p]sonal     
casualty losses  7a7 ,9 g5]al ,p>agraph 
7#e7 ( section #afe7;h7 ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$--  7#a7  
by /rik+ 1 & be=e ,janu>y #a1 #bjbf 9   
subp>agraph 7,a71 &  7#b7 by /rik+ #bjah

 ?r\gh #bjbe 9 ! head+ & ins]t+ aft]    
#bjag4  7b7 ,effective date ,! am5dm5ts 
made by ?is section %all apply to losses
 incurr$ 9 taxable ye>s beg9n+ aft]     
,decemb] #ca1 #bjag4  #af4 ,repeal (    
miscellane\s itemiz$ d$uctions  7a7 ,9  
g5]al ,section #fg ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$-- 7#a7 by /rik+  
subsection 7a7 & ins]t+ ! foll[+3  7a7  
,g5]al rule ,no miscellane\s itemiz$    
d$uction %all be all[$ = any taxable ye>
 beg9n+ aft] ,decemb] #ca1 #bjag4  1    
7#b7 by /rik+ subsection 7g71 &  7#c7 by
 /rik+ #b-p]c5t floor on 9 ! head+ &    
ins]t+ ,treatm5t (4  7b7 ,con=m+ am5dm5t
 ,! table ( sections = "p ,i ( sub*apt] 
,b ( *apt] #a ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ by /rik+ #b-p]c5t     
floor on 9 ! item relat+ to section #fg 
& ins]t+ ,treatm5t (4  7c7 ,effective   
date ,! am5dm5ts made by ?is section    
%all apply to taxable ye>s beg9n+ aft]  
,decemb] #ca1 #bjag4  #ag4 ,repeal (    
ov]all limitation on itemiz$ d$uctions  
7a7 ,9 g5]al ,"p #a ( sub*apt] ,b (     

*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by /rik+ section #fh 7& !
 item relat+ to su* section 9 ! table ( 
sections = su* "p74  7b7 ,con=m+        
am5dm5ts  7#a7 ,section #a7;f77#g7 ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ section #fh7;b77#b714  7#b7    
,section #ef7;b77#a7 ( su* ,code is     
am5d$ by /rik+ subp>agraph 7,f74  7#c7  
,section #afd7;b77#e77;,h77ii77,,iii7 ( 
su* ,code is am5d$ by ins]t+ 7z 9 effect
 be=e ! date ( ! enactm5t ( ! ,tax ,cuts
 & ,jobs ,act7 aft] #fh7;b74  7#d7      
,section #fdb7;b77#b77;,c77i77,i7 ( su* 
,code is am5d$ by /rik+ z an individual 
describ$ 9 section #fh7;b77#a77;,c7 &   
ins]t+ z an individual :o is n m>ri$ &  
:o is n a surviv+ sp\se or head (       
h\sehold4  7#e7 ,section                
#ggc7;a77#c77;,b7 ( su* ,code is am5d$  
by /rik+ clause 7i7 & r$esignat+ clauses
 7ii7 ?r\gh 7iv7 z clauses 7i7 ?r\gh    
7iii71 respectively4  7c7 ,effective    
date ,! am5dm5ts made by ?is section    
%all apply to taxable ye>s beg9n+ aft]  

,decemb] #ca1 #bjag4  #ah4 ,repeal (    
exclusion = qualifi$ bicycle commut+    
reimbursem5t  7a7 ,9 g5]al ,section     
#acb7;f77#a7 ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$ by /rik+ subp>agraph   
7,d74  7b7 ,con=m+ am5dm5ts  7#a7       
,section #acb7;f77#b7 ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 & at ! end ( subp>agraph 7,a71 by /rik+
 1 & at ! end ( subp>agraph 7,b7 &      
ins]t+ a p]iod1 & by /rik+ subp>agraph  
7,c74  7#b7 ,section #acb7;f77#d7 ( su* 
,code is am5d$ by /rik+ 7o!r ?an a      
qualifi$ bicycle commut+ reimbursem5t74 
7#c7 ,section #acb7;f77#e7 ( su* ,code  
is am5d$ by /rik+ subp>agraph 7,f74  7c7
 ,effective date ,! am5dm5ts made by ?is
 section %all apply to taxable ye>s     
beg9n+ aft] ,decemb] #ca1 #bjag4  #ai4  
,p]man5t ext5sion ( modification (      
exclusion = qualifi$ mov+ exp5se        
reimbursem5t  7a7 ,9 g5]al ,section     
#acb7;g7 ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$-- 7#a7 9 p>agraph 7#a71  
by /rik+ individual & ins]t+ qualifi$   

milit>y memb]1 &  7#b7 by /rik+ p>agraph
 7#b7 & ins]t+ ! foll[+3  7#b7 ,qualifi$
 milit>y memb] ,= purposes ( p>agraph   
7#a71 ! t]m qualifi$ milit>y memb] means
 a memb] ( ! ,arm$ ,=ces ( ! ,unit$     
,/ates on active duty :o moves pursuant 
to a milit>y ord] & incid5t to a p]man5t
 *ange ( /ation4  4  7b7 ,effective date
 ,! am5dm5ts made by ?is section %all   
apply to taxable ye>s beg9n+ aft]       
,decemb] #ca1 #bjag4  #bj4 ,repeal (    
d$uction = mov+ exp5ses  7a7 ,9 g5]al   
,subsection 7a7 ( section #bag ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
to read z foll[s3  7a7 ,d$uction all[$  
,!re %all be all[$ z a d$uction mov+    
exp5ses paid or incurr$ dur+ ! taxable  
ye> 9 connection ) ! comm5cem5t ( "w by 
a memb] ( ! ,arm$ ,=ces ( ! ,unit$      
,/ates on active duty :o moves pursuant 
to a milit>y ord] & incid5t to a p]man5t
 *ange ( /ation4  4  7b7 ,con=m+        
am5dm5ts  7#a7 ,section #bag ( !        
,int]nal ,rev5ue ,code ( #aihf is       
am5d$-- 7,a7 by /rik+ subsections 7c71  

7d71 7f71 & 7i71  7,b7 by r$esignat+    
subsections 7g71 7h71 & 7j7 z           
subsections 7c71 7d71 & 7e71            
respectively1 &  7,c7 9 subsection 7c71 
z s r$esignat$--  7i7 by /rik+ p>agraph 
7#a7 & r$esignat+ p>agraphs 7#b7 & 7#c7 
z p>agraphs 7#a7 & 7#b71 respectively1 &
  7ii7 9 p>agraph 7#b7 7z s r$esignat$71
 by /rik+ mov+ exp5ses ( 8 sp\se &      
dep5d5ts & all t foll[s & ins]t+ mov+   
exp5ses ( 8 sp\se & dep5d5ts z if 8     
sp\se comm5c$ "w z an employee at a new 
pr9cipal place ( "w at su* location44   
7#b7 ,section #bc ( su* ,code is am5d$  
by /rik+ #bag7;h77#c7 ea* place x appe>s
 9 subsections 7d77#c7 & 7e7 & ins]t+   
#bag7;d77#c74  7c7 ,effective date ,!   
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjag4  #ba4 ,p]man5t ext5sion (   
limitation on wag]+ losses  7a7 ,9 g5]al
 ,! second s5t5ce ( section #afd7;d7 ( !
 ,int]nal ,rev5ue ,code ( #aihf is am5d$
 by /rik+ 9 ! case ( taxable ye>s beg9n+
 aft] ,decemb] #ca1 #bjag1 & be=e       

,janu>y #a1 #bjbf14  7b7 ,effective date
 ,! am5dm5ts made by ?is section %all n 
apply to taxable ye>s beg9n+ aft]       
,decemb] #ca1 #bjag4  #bb4 ,increase 9  
e/ate & gift tax exemption made p]man5t 
7a7 ,9 g5]al ,section #bjaj7;c77#c77;,a7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by /rik+ #e1jjj1jjj & ins]t+      
#aj1jjj1jjj4  7b7 ,con=m+ am5dm5ts  7#a7
 ,section #bjaj7;c77#c7 ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
subp>agraph 7,c74  7#b7 ,subsection 7g7 
( section #bjja ( su* ,code is am5d$ to 
read z foll[s3  7g7 ,modifications to   
gift tax payable ,to reflect diff]5t tax
 rates ,= purposes ( apply+ subsection  
7b77#b7 ) respect to #a or m gifts1 !   
rates ( tax "u subsection 7c7 9 effect  
at ! dec$5t's dea? %all1 9 lieu ( !     
rates ( tax 9 effect at ! "t ( su*      
gifts1 be us$ bo? to compute--  7#a7 !  
tax impos$ by *apt] #ab ) respect to su*
 gifts1 &  7#b7 ! cr$it all[$ aga9/ su* 
tax "u section #beje1 includ+ 9         
comput+--  7,a7 ! applicable cr$it am\nt

 "u section #beje7;a77#a71 &  7,b7 ! sum
 ( ! am\nts all[$ z a cr$it = all prec$+
 p]iods "u section #beje7;a77#b74  4    
7c7 ,effective date ,! am5dm5ts made by 
?is section %all apply to e/ates (      
dec$5ts dy+ & gifts made aft] ,decemb]  
#ca1 #bjag4  #bc4 ,increase 9 alt]native
 m9imum tax exemption made p]man5t  7a7 
,9 g5]al ,section #ee7;d7 ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$-- 7#a7 9 
p>agraph 7#a7--  7,a7 by /rik+ #gh1gej 9
 subp>agraph 7,a7 & ins]t+ #aji1djj1 &  
7,b7 by /rik+ #ej1fjj 9 subp>agraph 7,b7
 & ins]t+ #gj1cjj1 &  7#b7 9 p>agraph   
7#b7-- 7,a7 by /rik+ #aej1jjj 9         
subp>agraph 7,a7 & ins]t+ #a1jjj1jjj1 & 
7,b7 by /rik+ subp>agraphs 7,b7 & 7,c7 &
 ins]t+ ! foll[+3  7,b7 #ej p]c5t ( !   
doll> am\nt applicable "u subp>agraph   
7,a7 9 ! case ( a taxpay] describ$ 9    
subp>agraph 7,b7 or 7,c7 ( p>agraph     
7#a71 &  7,c7 #ej p]c5t ( #aej1jjj 9 !  
case ( a taxpay] describ$ 9 p>agraph    
7#a77;,d74  4  7b7 ,inflation adju/m5t  
7#a7 ,9 g5]al ,section                  

#ee7;d77#c77;,a77ii7 ( ! ,int]nal       
,rev5ue ,code ( #aihf is am5d$ to read z
 foll[s3  7ii7 ! co/-(-liv+ adju/m5t    
det]m9$ "u section #a7;f77#c7 = ! cal5d>
 ye> 9 :i* ! taxable ye> beg9s1 by      
sub/itut+ = cal5d> ye> #bjaf 9          
subp>agraph 7,a77ii7 !re(--  7,i7 cal5d>
 ye> #bjaa 9 ! case ( ! doll> am\nts    
describ$ 9 clauses 7i71 7iv71 & 7v7 (   
subp>agraph 7,b71 &  7,,ii7 cal5d> ye>  
#bjag 9 ! case ( ! doll> am\nts describ$
 9 clauses 7ii7 & 7iii7 ( subp>agraph   
7,b74  4  7#b7 ,con=m+ am5dm5ts ,section
 #ee7;d77#c77;,b7 ( su* ,code is am5d$--
 7,a7 by /rik+ subp>agraphs 7,a71 7,b71 
& 7,d7 ( p>agraph 7#a71 & 9 clause 7ii7 
& ins]t+ subp>agraphs 7,a7 & 7,b7 (     
p>agraph 7#a711  7,b7 by /rik+          
subp>agraphs 7,a7 & 7,b7 ( p>agraph     
7#b74 9 clause 7iii7 & ins]t+ p>agraph  
7#b77;,a711 &  7,c7 by add+ at ! end !  
foll[+3  7iv7 ! doll> am\nt conta9$ 9   
p>agraph 7#a77;,d71 &  7v7 ! doll> am\nt
 conta9$ 9 p>agraph 7#b77;,c74  4  7c7  
,effective date ,! am5dm5ts made by ?is 

section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjag4  #bd4  
,te*nical am5dm5t ,section #aajjj (     
,public ,law #aae-ig is am5d$ by        
r$esignat+ subsection 7a7 z subsection  
7b7 & by ins]t+ be=e subsection 7b7 7z s
 r$esignat$7 ! foll[+ new subsection3   
7a7 ,%ort title ,?is title may be cit$ z
 ! ,tax ,cuts & ,jobs ,act4  4