[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3168 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 3168

To amend the Internal Revenue Code of 1986 to allow certain legal fees 
and investment fees to be taken into account as miscellaneous itemized 
                              deductions.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 10, 2019

  Mr. Flores introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to allow certain legal fees 
and investment fees to be taken into account as miscellaneous itemized 
                              deductions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CERTAIN FEES TAKEN INTO ACCOUNT AS MISCELLANEOUS ITEMIZED 
              DEDUCTION.

    (a) In General.--Section 67(g) of the Internal Revenue Code of 1986 
is amended by adding at the end the following: ``In the case of any 
legal fees, or investment fees, paid or incurred by an individual for 
the production of income or in connection with the performance of 
services as an employee, which but for the preceding sentence would be 
taken into account as a miscellaneous itemized deduction under 
subsection (a) for any such taxable year, the preceding sentence shall 
not apply.''.
    (b) Effective Date.--The amendment made by this section shall take 
effect as if included in the enactment of Public Law 115-97.
    (c) Definitions.--In this section:
            (1) Legal fees.--The term ``legal fees'' shall include any 
        fee or expense paid or incurred to establish the basis of a 
        settlement agreement.
            (2) Investment fees.--The term ``investment fees'' means 
        any fee or expense paid or incurred for the management of 
        investments.
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