HR 558
Tip Tax Termination Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 6:50 AM
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Tip Tax Termination Act, aims to temporarily exempt up to $20,000 of tipped wages from federal income tax for five years. It defines ‘eligible tips’ as those received in jobs like cosmetology, hospitality, and food service. The bill also requires the IRS to update its tax withholding procedures to account for these excluded tips, with a specific exception for calculating the child tax credit and earned income tax credit. The changes will take effect on December 31, 2024.
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