U.S. Congress - H.R.382 Income Equity Act of 2011
H.R.382 - Income Equity Act of 2011
To amend the Internal Revenue Code of 1986 to limit the deductibility of excessive rates of executive compensation. view all titles (2)
All Bill Titles
- Official: To amend the Internal Revenue Code of 1986 to limit the deductibility of excessive rates of executive compensation. as introduced.
- Short: Income Equity Act of 2011 as introduced.
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Official Summary
1/20/2011--Introduced.Income Equity Act of 2011- Amends the Internal Revenue Code to: (1) deny employers a tax deduction for payments of excessive compensation to any full-time employee (i.e., compensation for services exceeding the greater of 25 times the lowest compensation paid to any oOfficial Summary
1/20/2011--Introduced.Income Equity Act of 2011- Amends the Internal Revenue Code to:(1) deny employers a tax deduction for payments of excessive compensation to any full-time employee (i.e., compensation for services exceeding the greater of 25 times the lowest compensation paid to any other employee or $500,000), and
(2) require such employers to file a report with the Secretary of the Treasury on excessive compensation (as defined by this Act) paid to their employees. Defines "compensation" to include wages, salary, deferred compensation, retirement contributions, options, bonuses, property, and other forms of compensation.
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