HR 9800
Working Class Bonus Tax Relief Act of 2024
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Bill overview
This bill, the Working Class Bonus Tax Relief Act of 2024, creates a tax deduction for bonuses received by individuals, up to a maximum of 15% of their regular wages from the same employer. However, this deduction is limited to taxpayers with an adjusted gross income below $200,000 (or $150,000 and $100,000 for heads of household and single filers, respectively), and it will expire after December 31, 2029. The bill also allows non-itemizers to claim this deduction and excludes the bonus deduction from certain overall income limitations.
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