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

JUL. 20, 2021

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

DATED JUL. 20, 2021
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Citations: H.R. 4558; Tax Fairness for the Self-Employed Act of 2021

117TH CONGRESS
1ST SESSION

H.R. 4558

To amend the Internal Revenue Code of 1986 to allow the deduction
for health insurance costs in computing self-employment taxes.

IN THE HOUSE OF REPRESENTATIVES

JULY 20, 2021

Mr. DELGADO (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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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. 

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