Sec. 214. Relieving Burdens on Affordability
81 words·~1 min read·
/bill/118/hr/10009/ih/section-214·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 164(b)(6) of the Internal Revenue Code of 1986 is amended by adding at the end the following: In the case of a joint return for a taxable year beginning after December 31, 2022, and before January 1, 2024, if the taxpayer’s adjusted gross income for such taxable year is less than $500,000, subparagraph
(B)shall be applied by substituting . $20,000 for $10,000 . The amendment made by this section shall apply to taxable years beginning after December 31, 2022.