Section 1 Short title
This Act may be cited as the “Creating Real and Useful Middle-Class Benefits and Savings (CRUMBS) Act of 2018”.
Creating Real and Useful Middle-Class Benefits and Savings (CRUMBS) Act of 2018
A BILL
To provide further tax relief for Americans receiving bonuses.
Sec. 2 Tax relief for bonuses
In general— In the case of a taxable year beginning after December 31, 2017, and before January 1, 2019—
If an employee receives a bonus, amounts not to exceed a total of $2,500 annually of bonus income shall not be considered taxable earnings for the purposes of the employee’s Federal tax liabilities.
Definitions— For purposes of this paragraph—
Bonus— The term bonus means wages paid in addition to the compensation ordinarily given, required, optioned, or obligated under an employment contract.