Employee Business Expense Deduction Reinstatement Act of 2023
- Last Action
- 9/28/2023
Actions
- 2023-09-28Referred to the House Committee on Ways and Means.
- 2023-09-28Introduced in House
- 2023-09-28Introduced in House
CRS Summary
As of 2023-09-28 (00)
Employee Business Expense Deduction Reinstatement Act of 2023
This bill reinstates the tax deduction for the itemized miscellaneous expenses of employees performing services in a trade or busines (the deduction is currently suspended for the period beginning in 2018 through 2025). The amount the an employee may take into account in computing the deduction is 85% of unreimbursed food, lodging, travel, or transportation expenses.
The bill also lowers the threshold for the deduction to the extent its aggregate amount exceeds 1% (2% under current law).
Cosponsors (4)
- Andy Biggs (R-AZ)
- Mike Garcia (R-CA)
- George Santos (R-NY)
- Andy Harris (R-MD)
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.