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HR 721119th CongressIntroduced
Performing Artist Tax Parity Act of 2025
Introduced: Oct 28, 2025
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Performing Artist Tax Parity Act of 2025 increases the income threshold for above-the-line deduction of performing artist expenses and adjusts related thresholds for inflation.
Key Points
- 1Increases adjusted gross income limitation for performing artist deductions from $100,000 to $200,000 for joint returns
- 2Adds phaseout provision reducing deduction by 10 percentage points for each $2,000 above threshold
- 3Includes cost-of-living adjustments for future years based on inflation
- 4Increases threshold for determining nominal employers from $200 to $500
- 5Allows deduction for commissions paid to artist's manager or agent
- 6Effective for taxable years beginning after December 31, 2024
Impact Areas
Performing artist tax benefitsFederal income tax policyEntertainment industry taxationAbove-the-line deductionsSmall business and self-employed taxpayer provisions
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