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S. 2627: End Double Taxation of Successful Civil Claims Act


The text of the bill below is as of Oct 17, 2019 (Introduced).


II

116th CONGRESS

1st Session

S. 2627

IN THE SENATE OF THE UNITED STATES

October 17, 2019

(for herself, Mr. Van Hollen, and Mr. Merkley) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for attorney fees and costs in connection with civil claim awards.

1.

Short title

This Act may be cited as the End Double Taxation of Successful Civil Claims Act.

2.

Above-the-line deduction for attorney fees and costs in connection with civil claim awards

(a)

In general

The first sentence of paragraph (20) of section 62(a) of the Internal Revenue Code of 1986 is amended by striking in connection with any action and all that follows and inserting in connection with any civil action..

(b)

Effective date

The amendment made by this section shall apply to attorney fees and court costs paid during taxable years ending after the date of the enactment of this Act with respect to any judgment or settlement occurring during such taxable years.