Employee Business Expense Deduction Reinstatement Act of 2022

Bill: 117-hr-8848
Sponsor: full_name: Rep. Grothman, Glenn [R-WI-6]
Introduced: 2022-09-15
Policy area: Taxation
Latest action: action_date: 2022-09-15
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2022-09-15
action_desc: Introduced in House
text: <p> <strong>Employee Business Expense Deduction Reinstatement Act of 2022 </strong></p> <p>This bill allows an individual taxpayer to take into account 85% of any miscellaneous itemized deductions for the taxable year that are unreimbursed expenses paid or incurred by the individual in connection with the performance of services as an employee.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 8848 IN THE HOUSE OF REPRESENTATIVES September 15, 2022 Mr. Grothman (for himself, Mr. Harris , and Mr. Biggs ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow unreimbursed employee expenses to be taken into account as miscellaneous itemized deductions.

1. Short title This Act may be cited as the Employee Business Expense Deduction Reinstatement Act of 2022 . 2. Unreimbursed employee expenses taken into account as miscellaneous itemized deduction (a) In general Section 67(g) of the Internal Revenue Code of 1986 is amended by adding at the end the following: Notwithstanding the preceding sentence for any such taxable year, an individual may take into account under subsection (a) 85 percent of any miscellaneous itemized deductions for the taxable year which are unreimbursed expenses paid or incurred by the individual in connection with the performance of services as an employee. . (b) Effective date The amendment made by this section shall take effect as if included in section 11045 of Public Law 115–97 (commonly known as the Tax Cuts and Jobs Act). (c) Extension of statute of limitation on credit or refund If the period of limitation on a credit or refund resulting from the amendments made by subsection (a) expires before the end of the 1-year period beginning on the date of the enactment of this Act, refund or credit of such overpayment (to the extent attributable to such amendments) may, nevertheless, be made or allowed if claim therefor is filed before the close of such 1-year period.