S.1121

Performing Artist Tax Parity Act of 2025 increases tax deductions for performing artists.

The Performing Artist Tax Parity Act of 2025 amends the Internal Revenue Code to enhance tax benefits for performing artists. It raises the adjusted gross income limit for above-the-line deductions of performing artists' expenses from $200 to $500. Additionally, it introduces a cost-of-living adjustment for taxable years starting after 2025, ensuring the $500 limit increases with inflation. The bill also clarifies that deductions include commissions paid to a performing artist's manager or agent. These changes aim to provide fairer tax treatment for performing artists.