Amends the Internal Revenue Code to allow Tax Court Judges to revoke elections to receive retirement pay.
Excludes from the definition of "wages" subject to payroll taxes under the Federal Insurance Contributions Act and the Federal Unemployment Tax, amounts contributed by an employer to a qualified group legal services plan.
Provides that, where real property to which the special use tax valuation provisions apply are involuntarily converted, the estate tax recapture does not apply to the proceeds of such conversion to the extent that the property is replaced by other real property of equal value for the same use.