Section 1 Termination of tax on unemployment compensation
In general— Section 85 of the Internal Revenue Code of 1986 is amended by striking subsection (c) and inserting the following new subsection:
“(c) Termination of inclusion in gross income—This section shall not apply to taxable years beginning after December 31, 2024.”
Effective date— The amendment made by this section shall apply to amounts received after December 31, 2024, in taxable years ending after such date.