H.R. 4157 — Introduced in House

I 116th CONGRESS 1st Session H. R. 4157 IN THE HOUSE OF REPRESENTATIVES August 2, 2019Mr. Neguse (for himself and Mr. Golden) 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 exclude the portion of a lump-sum social security benefit payment that relates to periods prior to the taxable year from the determination of household income. 1. Short title This Act may be cited as the Fairness in Social Security Act of 2019. 2. Treatment of lump-sum social security benefits in determining household income (a) In general Section 36B(d)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: (C) Exclusion of portion of lump-sum social security benefits (i) In general The term modified adjusted gross income shall not include so much of any lump-sum social security benefit payment as is attributable to months ending before the beginning of the taxable year. (ii) Lump-sum social security benefit payment For purposes of this subparagraph, the term lump-sum social security benefit payment means any payment of social security benefits (as defined in section 86(d)(1)) which constitutes more than 1 month of such benefits. (iii) Election to include excludable amount A taxpayer may elect (at such time and in such manner as the Secretary may provide) to have this subparagraph not apply for any taxable year. . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2018.