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https://www.congress.gov/bill/116th-congress/house-bill/3121/text
A BILL To amend the Internal Revenue Code of 1986 to increase the adjusted gross income limitation for above-the-line deduction of expenses of performing artist employees, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1.
https://www.hollywoodreporter.com/news/unions-ask-congress-restore-expense-deductions-entertainment-workers-1292141
Apr 27, 2020 · H.R. 3121 updates the Qualified Performing Artist deduction (QPA) put into the tax code by President Reagan in 1986. The QPA was initially an …
https://www.accountingtoday.com/news/lawmakers-introduce-tax-deduction-fix-for-performing-artists
Jun 06, 2019 · The bill, known as the Performing Artist Tax Parity Act, would update the Qualified Performing Artist (QPA) tax deduction that helps artists deduct the costs of work-related expenses. The Tax Cuts and Jobs Act eliminated the ability to claim miscellaneous itemized deductions, which used to enable artists to deduct their work expenses.Author: Michael Cohn
https://chu.house.gov/sites/chu.house.gov/files/documents/Chu_QPA%20Tax%20Bill.pdf
116TH CONGRESS 1ST SESSION H. R. ll To amend the Internal Revenue Code of 1986 to increase the adjusted gross income limitation for above-the-line deduction of expenses of per-forming artist employees, and for other purposes. IN THE HOUSE OF REPRESENTATIVES Ms. JUDY CHU of California introduced the following bill; which was referred
https://www.pgdc.com/pgdc/leahy-bill-would-provide-fair-market-deduction-artistic-contributions
Mar 10, 2005 · Prior to 1969, artists and collectors alike were able to take a deduction equivalent to the fair market value of a work, but Congress changed the law with respect to artists in the Tax Reform Act of 1969. Since then, fewer and fewer artists have donated …
https://www.nolo.com/legal-encyclopedia/tax-deductions-artists.html
All such artists are operating pass-through businesses. The Tax Cuts and Jobs Act established a brand new deduction that allows owners of pass-through businesses, including artists, to deduct an amount equal to up to 20% of their net income from the business. This is in addition to all their other art business deductions.
http://www.tcg.org/pdfs/advocacy/ArtistDeduction_Final.pdf
The Senate has passed artists deduction legislation five times in past years, but the bills have not been reviewed by the House. In the 111 th Congress, the bills gained 93 …
https://www.congress.gov/bill/116th-congress/senate-bill/2762
This bill increases the limitation on the deduction for state and local taxes to $20,000 for individuals filing a joint tax return. The limitation applies to taxable years 2018 through 2025.
https://www.eidebailly.com/insights/blogs/2020/12/congress-reaches-deal-on-covid-relief-including-ppp-deductions
Dec 21, 2020 · Congress reaches deal on COVID relief, PPP deductions. Multiple media outlets report that Congressional negotiators have agreed on a COVID relief package that includes, among other tax breaks, a provision allowing taxpayers to deduct at least some Paycheck Protection Plan loan-financed expenses. Richard Rubin of the Wall Street Journal reports ($):. The provision, part of the year-end ...
https://www.accountingtoday.com/news/senators-introduce-bill-to-allow-tax-deductions-for-forgiven-ppp-loans
“It is clear that Congress intended to allow a full deduction for PPP related expenses,” said the letter. “This important legislation helps ensure that small business taxpayers affected by the ongoing pandemic will receive the full intended benefits of the CARES Act.” AICPA vice president of taxation Edward Karl expanded on the letter.
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