Mom and Pop Tax Relief Act

Today's wording of each part of the law, with what would be struck out and added. Each change also gives the bill's own instruction, word for word.

1. 26 U.S.C. 199A(b)(1)rewrittenby H.R. 3249 Sec. 2(a)

   (1) In general.— The term combined qualified business income amount means, with respect to any taxable year, an amount equal to the lesser of—(A) the sum of the taxpayer’s qualified business income for each qualified trade or business carried on by the taxpayer, or(B) $25,000.

   The bill says: Section 199A(b)(1) of the Internal Revenue Code of 1986 is amended to read as follows:

   Bill text · Current law (26 U.S.C. 199A)

From the bill's official text on GovInfo and the U.S. Code, 2024 edition, which may not yet show changes made since.