United States Code

26 U.S.C. § 26

Limitation based on tax liability; definition of tax liability

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Get an alert when any bill in Congress would change this law — and every time it moves.

Bills that would change it 91

HR 9281 DASH Act Amends 26(b)(2) · introduced · 119th Congress
S 4773 DASH Act Amends 26(b)(2) · introduced · 119th Congress
HR 8709 Homeownership Savings Act Amends 26(b)(2) · introduced · 119th Congress
HR 8324 Great American Healthcare Plan Amends 26(b)(2)(S), 26(b)(2) · introduced · 119th Congress
HR 7681 HSA’s For All Act Amends 26(b)(2)(S) · introduced · 119th Congress
HR 7422 NEST Act Amends 26(b)(2) · introduced · 119th Congress
HR 6634 To amend the Internal Revenue Code of 1986 to establish a refundable childhood education tax credit with monthly advance payments. Amends 26(b)(2) · introduced · 119th Congress
HR 6542 First Home Savings Opportunity Act of 2025 Amends 26(b)(2) · introduced · 119th Congress
S 3362 Health Marketplace and Savings Accounts for All Act Amends 26(b)(2)(S), 26(b)(2) · introduced · 119th Congress
S 3248 Health Savings Accounts For All Act of 2025 Amends 26(b)(2)(S), 26(b)(2) · introduced · 119th Congress
S 3217 Skills Investment Act of 2025 Amends 26(b)(2)(E) · introduced · 119th Congress
S 1940 READY Accounts Act Amends 26(b)(2) · introduced · 119th Congress
HR 2763 American Family Act Amends 26(b)(2) · introduced · 119th Congress
S 1393 American Family Act Amends 26(b)(2) · introduced · 119th Congress
S 1382 Family First Act Amends 26(b)(2) · introduced · 119th Congress
HR 1308 FISC Act Amends 26(b)(2) · introduced · 119th Congress
HR 782 Reignite Hope Act of 2025 Amends 26(b)(2) · introduced · 119th Congress
S 276 Personalized Care Act of 2025 Amends 26(b)(2)(S) · introduced · 119th Congress
HR 810 Personalized Care Act of 2025 Amends 26(b)(2)(S) · introduced · 119th Congress
HR 440 READY Accounts Act Amends 26(b)(2) · introduced · 119th Congress
HR 463 Lower Your Taxes Act Amends 26(b)(2) · introduced · 119th Congress
HR 464 Skills Investment Act of 2025 Amends 26(b)(2)(E) · introduced · 119th Congress
HR 353 Family First Act Amends 26(b)(2) · introduced · 119th Congress
HR 4803 Personalized Care Act of 2023 Amends 26(b)(2)(S) · introduced · 118th Congress
HR 6970 DASH Act Amends 26(b)(2) · introduced · 118th Congress
HR 7517 Skills Investment Act of 2023 Amends 26(b)(2)(E) · introduced · 118th Congress
S 3816 Skills Investment Act of 2024 Amends 26(b)(2)(E) · introduced · 118th Congress
HR 5953 Lower Your Taxes Act Amends 26(b)(2) · introduced · 118th Congress
HR 4789 Providing for Life Act of 2023 Amends 26(b)(2) · introduced · 118th Congress
S 2621 Personalized Care Act of 2023 Amends 26(b)(2)(S) · introduced · 118th Congress
HR 4520 Reignite Hope Act of 2023 Amends 26(b)(2) · introduced · 118th Congress
S 680 DASH Act Amends 26(b)(2) · introduced · 118th Congress
HR 677 Health Freedom and Flexibility Act Amends 26(b)(2) · introduced · 118th Congress
S 74 Providing for Life Act of 2023 Amends 26(b)(2) · introduced · 118th Congress
S 5302 Health Savings Accounts For All Act of 2022 Amends 26(b)(2)(S), 26(b)(2) · introduced · 117th Congress
HR 5648 Stop Wall Street Looting Act Amends 26(b)(2) · introduced · 117th Congress
HR 8851 Providing for Life Act Amends 26(b)(2) · introduced · 117th Congress
S 4868 Providing for Life Act Amends 26(b)(2) · introduced · 117th Congress
S 3022 Stop Wall Street Looting Act Amends 26(b)(2) · introduced · 117th Congress
S 4722 American Dream Down Payment Act of 2022 Amends 26(b)(2) · introduced · 117th Congress
HR 7435 Health Savings for Seniors Act Amends 26(b)(2)(S) · introduced · 117th Congress
S 2820 DASH Act Amends 26(b)(2) · introduced · 117th Congress
HR 4016 USER FEE Act Amends 26(b)(2) · introduced · 117th Congress
S 2099 Health Savings Account Expansion Act of 2021 Amends 26(b)(2)(S) · introduced · 117th Congress
HR 2808 Health Freedom and Flexibility Act Amends 26(b)(2) · introduced · 117th Congress
HR 2674 Superfund Reinvestment Act Amends 26(b) · introduced · 117th Congress
HR 2703 Superfund Polluter Pays Act Amends 26(b) · introduced · 117th Congress
HR 1319 American Rescue Plan Act of 2021 Amends 26(b)(2) · enacted · 117th Congress
S 536 Blue Collar Bonus Act of 2021 Amends 26(b)(2) · introduced · 117th Congress
HR 1360 American Dream Down Payment Act of 2021 Amends 26(b)(2) · introduced · 117th Congress

Showing the 50 most recently active.

The law today

From the official United States Code, current through Public Law 119-121.

(a) Limitation based on amount of tax The aggregate amount of credits allowed by this subpart for the taxable year shall not exceed the sum of— (1) the taxpayer’s regular tax liability for the taxable year reduced by the foreign tax credit allowable under section 27, and (2) the tax imposed by section 55(a) for the taxable year. (b) Regular tax liability For purposes of this part— (1) In general The term “regular tax liability” means the tax imposed by this chapter for the taxable year. (2) Exception for certain taxes For purposes of paragraph (1), any tax imposed by any of the following provisions shall not be treated as tax imposed by this chapter: (A) section 55 (relating to minimum tax), (B) section 59A (relating to base erosion and anti-abuse tax), (C) subsection (m)(5)(B), (q), (t), or (v) of section 72 (relating to additional taxes on certain distributions), (D) section 143(m) (relating to recapture of proration of Federal subsidy from use of mortgage bonds and mortgage credit certificates), (E) section 530(d)(4) (relating to additional tax on certain distributions from Coverdell education savings accounts), (F) section 531 (relating to accumulated earnings tax), (G) section 541 (relating to personal holding company tax), (H) section 1351(d)(1) (relating to recoveries of foreign expropriation losses), (I) section 1374 (relating to tax on certain built-in gains of S corporations), (J) section 1375 (relating to tax imposed when passive investment income of corporation having subchapter C earnings and profits exceeds 25 percent of gross receipts), (K) subparagraph (A) of section 7518(g)(6) (relating to nonqualified withdrawals from capital construction funds taxed at highest marginal rate), (L) sections 871(a) and 881 (relating to certain income of nonresident aliens and foreign corporations), (M) section 860E(e) (relating to taxes with respect to certain residual interests), (N) section 884 (relating to branch profits tax), (O) sections 453(l)(3) and 453A(c) (relating to interest on certain deferred tax liabilities), [(P) Repealed. Pub. L. 115–141, div. U, title IV, § 401(b)(2), Mar. 23, 2018, 132 Stat. 1201.] (Q) section 220(f)(4) (relating to additional tax on Archer MSA distributions not used for qualified medical expenses), (R) section 138(c)(2) (relating to penalty for distributions from Medicare Advantage MSA not used for qualified medical expenses if minimum balance not maintained), (S) sections 106(e)(3)(A)(ii), 223(b)(8)(B)(i)(II), and 408(d)(9)(D)(i)(II) (relating to certain failures to maintain high deductible health plan coverage), (T) section 170(o)(3)(B) (relating to recapture of certain deductions for fractional gifts), (U) section 223(f)(4) (relating to additional tax on health savings account distributions not used for qualified medical expenses), (V) subsections (a)(1)(B)(i) and (b)(4)(A) of section 409A (relating to interest and additional tax with respect to certain deferred compensation), (W) section 36(f) (relating to recapture of homebuyer credit), (X) section 457A(c)(1)(B) (relating to determinability of amounts of compensation), (Y) section 529A(c)(3)(A) (relating to additional tax on ABLE account distributions not used for qualified disability expenses), and (Z) section 24(j)(2) (relating to excess advance payments). (c) Tentative minimum tax For purposes of this part, the term “tentative minimum tax” means the amount determined under section 55(b)(1).

Official text at uscode.house.gov ↗