3.0.0 2943 2023-01-11T13:48:30Z 2023-01-11T13:48:30Z House HR 2021-04-30 117 [Congressional Record Volume 167, Number 75 (Friday, April 30, 2021)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SCHWEIKERT:H.R. 2943.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18 of the U.S. Constitution:The Congress shall have Power to make all Laws which shall benecessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by thisConstitution in the Government of the United States, or inany Department or Officer thereof.[Page H2135]]]> hswm00 Ways and Means Committee House Standing Referred to 2021-04-30T13:02:10Z Securing a Strong Retirement Act of 2021 117 2954 HR 2022-03-30 Received in the Senate and Read twice and referred to the Committee on Finance. Related bill CRS EARN Act 117 4808 S 2022-09-08 Placed on Senate Legislative Calendar under General Orders. Calendar No. 480. Related bill CRS 2021-04-30 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2021-04-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2021-04-30 Introduced in House IntroReferral 1000 9 Library of Congress S001183 Rep. Schweikert, David [R-AZ-6] David Schweikert R AZ 6 N Taxation Employee benefits and pensions Income tax deferral Income tax exclusion Taxation 00 2021-04-30 Introduced in House 2021-11-17T18:23:36Z This bill allows sole proprietors a retroactive elective deferral under a tax-exempt retirement plan that is adopted after the close of the taxable year and before the time for the filing of the individual's tax return. The elective deferral is treated as made prior to the end of the plan's first plan year.

An elective deferral is an amount contributed to certain tax-exempt retirement plans (e.g., 401(k)s, 403(b)s, SIMPLE pension plans and IRAs) by an employer at the employee's election and which, except to the extent they are designated Roth IRA contributions, are excludable from the employee's gross income.

]]> To 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. Display Title To 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. Official Title as Introduced To 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. Introduced in House IH Introduced in House 2021-04-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr2943ih/xml/BILLS-117hr2943ih.xml 2021-04-30 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.