H.R. 5012 — Introduced in House

I 115th CONGRESS 2d Session H. R. 5012 IN THE HOUSE OF REPRESENTATIVES February 14, 2018 Mr. Rokita (for himself, Mr. Marino, and Mr. Babin) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To provide further tax relief for Americans receiving bonuses. 1. Short title This Act may be cited as the Creating Real and Useful Middle-Class Benefits and Savings (CRUMBS) Act of 2018. 2. Tax relief for bonuses (a) In general In the case of a taxable year beginning after December 31, 2017, and before January 1, 2019— (1) If an employee receives a bonus, amounts not to exceed a total of $2,500 annually of bonus income shall not be considered taxable earnings for the purposes of the employee’s Federal tax liabilities. (b) Definitions For purposes of this paragraph— (1) Bonus The term bonus means wages paid in addition to the compensation ordinarily given, required, optioned, or obligated under an employment contract.