Bill > S2872

This bill, the Performing Artist Tax Parity Act of 2021, aims to amend the Internal Revenue Code to increase the adjusted gross income limitation for the above-the-line deduction of expenses incurred by performing artist employees. Specifically, the bill introduces a phaseout provision where the deduction is reduced by 10 percentage points for every $2,000 ($4,000 for joint filers) that a taxpayer's gross income exceeds $100,000 ($200,000 for joint filers). Additionally, the bill adjusts the cost-of-living threshold for this deduction and increases the threshold for determining nominal employers from $200 to $500, with a corresponding cost-of-living adjustment.