H.R. 5507 · 114th Congress
Top 1% Accountability Act
- Stage
- In committee
- Sponsor
- Gwen Moore
- Introduced
- 2016-06-16
- Latest action
- 2016-06-16 · Introduced in House
Summary
Top 1% Accountability Act
This bill amends the Internal Revenue Code to prohibit an individual from itemizing deductions for a year if: (1) the sum of the taxpayer's itemized deductions equals or exceeds $150,000, and (2) the taxpayer (and the taxpayer's spouse for a joint return) fails to submit proof of a clean drug test with the return. The drug test must show that the taxpayer (and the taxpayer's spouse for a joint return) did not test positive for any controlled substance.