House Bill 6629
116th Congress(2019-2020)
Patriot Bonus Tax Credit Act of 2020
Introduced
Introduced in House on Apr 28, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6629
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
Patriot Bonus Tax Credit Act of 2020
This bill allows employers a employment tax credit for qualified bonuses paid to their employees after March 12, 2020, and before January 1, 2021. The credit is equal to 50% of such bonuses paid in a calendar quarter taking into account not more than $25,000 for any employee for all calendar quarters.
The bill defines qualified bonus as wages paid to an employee that include overtime or hazardous pay, supplemental payments made for the convenience of the employer, payments to retain staff at essential facilities, or other payments made to employees due to extraordinary businesses and economic conditions.
April 28, 2020
04/28/2020
Referred to the House Committee on Ways and Means.
04/28/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:43:05 PM