Frequent Flyer Tax-Free Liability Act of 2002
Last action on Apr 16, 2002Referred to the House Committee on Ways and Means.
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Summary
Frequent Flyer Tax-Free Liability Act of 2002 - Amends the Internal Revenue Code to provide that if an individual receives frequent flyer mileage for purchase of property or services: (1) no part of such a benefit shall count as part of gross income; (2) no deduction otherwise allowable for the purchase of such property or services shall be reduced by reason of the resulting benefit; and (3) no deduction shall be permitted for any portion of travel-related service purchases for which such a benefit is utilized. Defines "frequent flyer benefit."
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