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H.R.3664 - Tax Free Tips Act of 2007
To amend the Internal Revenue Code of 1986 to provide that tips shall not be subject to income or employment taxes.
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September 25, 2007
SECTION 1. SHORT TITLE.
(b) Amendment of 1986 Code- Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of , a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.CommentsClose CommentsPermalink
SEC. 2. TIPS NOT SUBJECT TO INCOME OR EMPLOYMENT TAXES.
(C) Subsection (a) of section 3102 is amended by striking `; and an employer who is furnished by an employee a written statement of tips (received in a calendar month) pursuant to section 6053(a) to which paragraph (12)(B) of section 3121(a) is applicable may deduct an amount equivalent to such tax with respect to such tips from any wages of the employee (exclusive of tips) under his control, even though at the time such statement is furnished the total amount of the tips included in statements furnished to the employer as having been received by the employee in such calendar month in the course of his employment by such employer is less than $20'.CommentsClose CommentsPermalink
`(3) Solely for purposes of the taxes imposed by section 3201 and other provisions of this chapter insofar as they relate to such taxes, the term `compensation' shall not include tips.'.CommentsClose CommentsPermalink
(8) Subsection (a) of section 6051 is amended by striking `In the case of tips received by an employee in the course of his employment, the amounts required to be shown by paragraphs (3) and (5) shall include only such tips as are included in statements furnished to the employer pursuant to section 6053(a).'.CommentsClose CommentsPermalink
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