Summary of Bill HR 1691
Bill 119 HR 1691, also known as the Unreimbursed Employee Expenses Deduction Act, aims to amend the Internal Revenue Code of 1986 to allow unreimbursed employee expenses to be considered as miscellaneous itemized deductions. This means that employees who incur expenses related to their job duties, such as travel, supplies, or uniforms, but are not reimbursed by their employer, would be able to deduct these expenses from their taxable income.
The bill seeks to provide relief to employees who often have to pay out-of-pocket for work-related expenses, which can add up over time. By allowing these expenses to be deducted, employees would be able to reduce their taxable income and potentially lower their tax liability.
Supporters of the bill argue that it would help alleviate the financial burden on employees who are required to spend money for their jobs, while opponents may argue that it could potentially lead to abuse or fraud in claiming deductions for expenses that are not truly work-related.
Overall, Bill 119 HR 1691 aims to provide tax relief for employees who incur unreimbursed expenses for their jobs, and could potentially benefit a wide range of workers across various industries.