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H.R. 4558: Tax Fairness for the Self-Employed Act of 2021


The text of the bill below is as of Jul 20, 2021 (Introduced).


I

117th CONGRESS

1st Session

H. R. 4558

IN THE HOUSE OF REPRESENTATIVES

July 20, 2021

(for himself and Ms. Salazar) 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 the deduction for health insurance costs in computing self-employment taxes.

1.

Short title

This Act may be cited as the Tax Fairness for the Self-Employed Act of 2021.

2.

Deduction for health insurance costs allowed in computing self-employment taxes

(a)

In general

Subsection (l) of section 162 of the Internal Revenue Code of 1986 is amended by striking paragraph (4) and by redesignating paragraph (5) as paragraph (4).

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.