S.Amdt. 2498
What it does: Adds SEC. __. PROHIBITION ON TREASURY REGULATIONS WITH RESPECT TO INFORMATION REPORTING ON CERTAIN INTEREST PAID TO NONRESIDENT ALIENS wherever appropriate
Sen. Marco Rubio (R-FL)What it changes
1 change to S. 2237
Adds SEC. __. PROHIBITION ON TREASURY REGULATIONS WITH RESPECT TO INFORMATION REPORTING ON CERTAIN INTEREST PAID TO NONRESIDENT ALIENS wherever appropriate
Adds a sectionInserted: SEC. __. PROHIBITION ON TREASURY REGULATIONS WITH RESPECT TO INFORMATION REPORTING ON CERTAIN INTEREST PAID TO NONRESIDENT ALIENS.
Inserted: Except to the extent provided in Treasury Regulations as in effect on February 21, 2011, the Secretary of the Treasury shall not require (by regulation or otherwise) that an information return be made by a payor of interest in the case of interest--
Inserted: (1) which is described in section 871(i)(2)(A) of the Internal Revenue Code of 1986; and
Inserted: (2) which is paid--
Inserted: (A) to a nonresident alien; and
Inserted: (B) on a deposit maintained at an office within the United States.
The amendment doesn't say where this goes; the clerk decides.
Original wording
At the appropriate place, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 2498. Mr. RUBIO (for himself, Mr. Cornyn, and Mrs. Hutchison) submitted an amendment intended to be proposed by him to the bill S. 2237, to provide a temporary income tax credit for increased payroll and extend bonus depreciation for an additional year, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. __. PROHIBITION ON TREASURY REGULATIONS WITH RESPECT TO INFORMATION REPORTING ON CERTAIN INTEREST PAID TO NONRESIDENT ALIENS.
Except to the extent provided in Treasury Regulations as in effect on February 21, 2011, the Secretary of the Treasury shall not require (by regulation or otherwise) that an information return be made by a payor of interest in the case of interest--
(1) which is described in section 871(i)(2)(A) of the Internal Revenue Code of 1986; and
(2) which is paid--
(A) to a nonresident alien; and
(B) on a deposit maintained at an office within the United States.
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Senate amendment submitted
July 10, 2012