Sec. 2. Repeal of cap on compensation subject to Federal Insurance Contributions Act
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Section 3121(a) of the Internal Revenue Code of 1986 is amended by striking paragraph (1). The first sentence of section 1402(b) of the Internal Revenue Code of 1986 is amended by striking include— and all that follows and inserting include the net earnings from self-employment if such net earnings for the taxable year are less than $400. . Section 6413(c) of the Internal Revenue Code of 1986 is amended— by striking paragraph (1), and in paragraph (2)(A) by striking , not to exceed an amount equal to the contribution and benefit base (as determined under section 230 of the Social Security Act) for any calendar year with respect to which such contribution and benefit base is effective, .
Section 3122 of the Internal Revenue Code of 1986 is amended by striking The person making such return may, for convenience of administration, make payments of the tax imposed under section 3111 with respect to such service without regard to the contribution and benefit base limitation in section 3121(a)(1), and he shall not be required to obtain a refund of the tax paid under section 3111 on that part of the remuneration not included in wages by reason of section 3121(a)(1). .
Section 3125 of the Internal Revenue Code of 1986 is amended by striking without regard to the contribution and benefit base limitation in section 3121(a)(1) each place it appears. Section 3231(e)(2)(C) of the Internal Revenue Code of 1986 is amended by inserting (as in effect on the date of the enactment of the after Fair Adjustment and Income Revenue for Social Security Act employers) . Section 3511(b) of the Internal Revenue Code of 1986 is amended by striking 3121(a)(1), 3231(e)(2)(C), and inserting 3231(e)(2)(C) .
The amendments made by this section shall apply with respect to remuneration received, and taxable years beginning, after December 31, 2015.