Text: H.R.5012 — 115th Congress (2017-2018)All Information (Except Text)

There is one version of the bill.

Text available as:

Shown Here:
Introduced in House (02/14/2018)


115th CONGRESS
2d Session
H. R. 5012


To provide further tax relief for Americans receiving bonuses.


IN THE HOUSE OF REPRESENTATIVES

February 14, 2018

Mr. Rokita (for himself, Mr. Marino, and Mr. Babin) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To provide further tax relief for Americans receiving bonuses.

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

SECTION 1. Short title.

This Act may be cited as the “Creating Real and Useful Middle-Class Benefits and Savings (CRUMBS) Act of 2018”.

SEC. 2. Tax relief for bonuses.

(a) In general.—In the case of a taxable year beginning after December 31, 2017, and before January 1, 2019—

(1) If an employee receives a bonus, amounts not to exceed a total of $2,500 annually of bonus income shall not be considered taxable earnings for the purposes of the employee’s Federal tax liabilities.

(b) Definitions.—For purposes of this paragraph—

(1) BONUS.—The term “bonus” means wages paid in addition to the compensation ordinarily given, required, optioned, or obligated under an employment contract.


Share This