Page:United States Statutes at Large Volume 107 Part 1.djvu/501

 PUBLIC LAW 103-66 —AUG. 10, 1993 107 STAT. 475 (e) EFFECTIVE DATE.— The amendments made by this section 26 USC 62 note. shall apply to expenses incurred after December 31, 1993; except that the amendments made by subsection (d) shall apply to reimbursements or other payments in respect of expenses incurred after such date. SEC. 13214. SIMPLIFICATION OF INDIVIDUAL ESTIMATED TAX SAFE HARBOR BASED ON LAST YEAR'S TAX. (a) IN GENERAL. — Paragraph (1) of section 6654(d) (relating to amount of required estimated tax installments) is amended by 26 USC 6654. striking subparagraphs (C), (D), (E), and (F) and by inserting the following new subparagraph: " (C) LIMITATION ON USE OF PRECEDING YEAR'S TAX.— shown on the return of the individual for the preceding t£ucable year exceeds $150,000, clause (ii) of subparagraph (B) shall be applied by substituting '110 percent' for 100 percent'. "(ii) SEPARATE RETURNS. —In the case of a married individual (within the meaning of section 7703) who files a separate return for the taxable year for which the amount of the installment is being determined, clause (i) shall be applied by substituting '$75,000' for '$150,000'. "(iii) SPECIAL RULE. —In the case of an estate or trust, adjusted gross income shall be determined as provided in section 67(e).'' (b) CONFORMING AMENDMENTS. — (1) Subparagraph (A) of section 6654(j)(3) is amended by striking "and subsection (d)(l)(C)(iii) shall not BLpply^. (2) Paragraph (4) of section 6654(1) is amended by striking "paragraphs (l)(C)(iv) and (2)(B)(i) of subsection (d)" and inserting "subsection (d)(2)(B)(i)''. (c) EFFECTIVE DATE.—The amendments made by this section 26 USC 6654 shall apply to taxable years beginning after December 31, 1993. ^°^- SEC. 13216. SOCIAL SECURITY AND TIER 1 RAILROAD RETIREMENT BENEFITS. (a) ADDITIONAL INCLUSION FOR CERTAIN TAXPAYERS. — (1) IN GENERAL.—Subsection (a) of section 86 (relating to social security and tier 1 railroad retirement benefits) is -^ amended by adding at the end the following new paragraph: "(2) ADDITIONAL AMOUNT.— In the case of a taxpayer with respect to whom the amount determined under subsection (b)(l)(A) exceeds the adjusted base amount, the amount included in gross income under this section shall be equal to the lesser of— "(A) the sum of— "(i) 85 percent of such excess, plus "(ii) the lesser of the amount determined under paragraph (1) or an amount equal to one-half of the difference between the a4justed base amount and the base amount of the taxpayer, or "(B) 85 percent of the social security benefits received during the taxable year." (2) CONFORMING AMENDMENTS. — Subsection (a) of section 86 is amended— (A) by striking "Gross" and inserting:
 * (i) IN GENERAL.— If t he adjusted gross income

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