Search Results: keywords:"itemized deductions"

  • H. R. 2173 — To amend the Internal Revenue Code of 1986 to allow for deductions for the performance of certain services by a taxpayer, and for other purposes.
    Status:Introduced in House
    Words:498

    H.R. 2173 is a proposed law that aims to change the U.S. Internal Revenue Code of 1986 to allow certain tax deductions for employees. This bill proposes to let employees deduct expenses related to their job, like tools and safety gear, directly from their income before taxes...

    Simple Explanation

    H.R. 2173 is a plan to let workers pay less in taxes by allowing them to subtract money they spend on work-related items, like tools or safety gear, from what they earn, so they have more money left over. The changes would start helping people with their taxes after 2025.

  • S. 5219 — To amend the Internal Revenue Code of 1986 to increase the limitation on the deduction for State and local taxes.
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    Status:Introduced in Senate
    Words:233

    S. 5219 aims to change the tax laws in the United States to allow people to deduct more money from their state and local taxes on their federal tax returns. Specifically, it proposes to increase the current deduction limit from $10,000 to $100,000, or double that amount for...

    Simple Explanation

    The bill wants to change the rules so people can save more money when they pay their taxes by allowing them to count up to $100,000 of their state taxes, rather than just $10,000, when figuring out how much they owe to the government.