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H.R. 7870

Tip Tax Termination Act

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.   

Referred to the House Committee on Ways and Means.

Rep. Bacon, Don [R-NE-2](R-NE)Sponsor
1committees3actions
  1. IntroReferralH11100

    Referred to the House Committee on Ways and Means.

    Ways and Means Committee
  2. IntroReferralIntro-H

    Introduced in House

  3. IntroReferral1000

    Introduced in House

Tip Tax Termination Act — Informed