[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7350 Introduced in House (IH)]

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117th CONGRESS
  2d Session
                                H. R. 7350

   To amend the Internal Revenue Code of 1986 to exempt certain late 
                  unemployment payments from taxation.


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                    IN THE HOUSE OF REPRESENTATIVES

                             March 31, 2022

Mr. Thompson of California (for himself, Ms. Eshoo, Mr. Lowenthal, Mr. 
  Swalwell, Ms. Brownley, Ms. Chu, Ms. Porter, Ms. Roybal-Allard, Mr. 
    Panetta, Ms. Matsui, Ms. Barragan, and Ms. Bass) introduced the 
 following bill; which was referred to the Committee on Ways and Means

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                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to exempt certain late 
                  unemployment payments from taxation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SPECIAL RULE FOR LATE UNEMPLOYMENT COMPENSATION PAYMENTS.

    (a) In General.--Section 85(c) of the Internal Revenue Code of 1986 
is amended by redesignating paragraph (2) as paragraph (4) and by 
inserting after paragraph (1) the following new paragraphs:
            ``(2) Special rule for delayed 2020 unemployment 
        compensation.--In the case of any taxable year beginning in 
        2021, if a taxpayer is issued an unemployment compensation 
        payment with respect to calendar year 2020 but such payment is 
        not received by the taxpayer until 2021, the gross income of 
        such taxpayer shall not include so much of the unemployment 
        compensation received by such taxpayer as does not exceed 
        $10,200.
            ``(3) $10,200 aggregate limitation.--The total amount 
        excluded from gross income with respect to a taxpayer under 
        this subsection for all taxable years shall not exceed 
        $10,200.''.
    (b) Conforming Amendment.--Paragraph (4) of section 85(c) of the 
Internal Revenue Code of 1986 (as redesignated by this section) is 
amended by striking ``paragraph (1)'' and inserting ``paragraphs (1) 
and (2)''.
    (c) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2020.
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