Tip Tax Termination Act

Summary

Tip Tax Termination Act  This bill excludes from gross income, for income tax purposes, eligible tips not exceeding $20,000 in a taxable year. The bill defines eligible tips as amounts received by a taxpayer while performing services in a position that generally relies on tips as part of wages, including cosmetology, hospitality, and food service. This tax exclusion terminates with respect to tips received after 2028.   

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Timeline

1. 5 April 2024

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 5 April 2024

   Introduced

   Introduced in House

   Source: IntroReferral

3. 5 April 2024

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 5 April 2024 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 April 2024

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 5 April 2024

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 5 April 2024

  Open at official source

Sponsors

• Rep. Bacon, Don [R-NE-2] · R · Sponsor
• · hswm00 · Standing

Related records

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