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HR 3453 115th Congress House Taxation Art, artists, authorship Business expenses Income tax deductions Music Performing arts Sound recording Television and film

Tax Relief for Artists Act of 2017

Introduced: July 27, 2017 Introduced by: Velázquez, Nydia M. Democratic · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 2017
Referred to the House Committee on Ways and Means.
Jul 27, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Tax Relief for Artists Act of 2017

This bill amends the Internal Revenue Code to allow a standard deduction for the trade and business expenses of artists. The deduction is limited to the lesser of: (1) $2,500, or (2) the gross income of the taxpayer derived from one or more artistic trades or businesses carried on by the taxpayer (or, if less, taxable income).

To be eligible for the deduction, a taxpayer must have: (1) household income for the taxable year that does not exceed 250% of the poverty line for a family of the size involved, and (2) gross income derived from one or more artistic trades or businesses carried on by the taxpayer.

An "artistic trade or business" is any trade or business in the literary, graphic design, film, visual, media, musical, theatre, recording, or dance arts.

What's happening now July 27, 2017

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1