# Pub. L. 87-876: changes to the Internal Revenue Code

1962-10-24, 76 Stat. 1199. Source: <https://www.govinfo.gov/link/plaw/87/public/876>.

## Legislative history

- Bill: [H.R. 6371](https://www.congress.gov/bill/87th-congress/house-bill/6371)

## § 22: Credit for the elderly and the permanently and totally disabled

- § 22(d): Pub. L. 87–876 increased the limit on retirement income from $1,200 to $1,524, lowered the age requirement in par. (2)(A) from 65 to 62, and substituted provisions in par. (2)(B) which reduce the amount of retirement income for individuals who reach age 62, by one-half the amount of earned income in excess of $1,200 but not in excess of $1,700, and by the amount received over $1,700, for provisions which reduced such income by the amount earned over $1,200 by persons having reached age 65, and which defined income as in subsec. (g) of this section.

## § 461: General rule for taxable year of deduction

- § 461(e): Pub. L. 87–876 added subsec. (e).