1. Short title This Act may be cited as the Tip Tax Termination Act . 2. Exclusion from gross income of certain tipped wages (a) In general Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139I the following new section: 139J. Certain tipped wages (a) In general Gross income shall not include so much of the eligible tips received by an individual during the taxable year as does not exceed $20,000. (b) Eligible tips For purposes of this section, the term eligible tips means amounts received while performing services which constitute employment in a position which generally relies on tips as part of wages, including cosmetology, hospitality, and food service. (c) Denial of double benefit (1) In general Except as provided in paragraph (2), any amount which is excluded from gross income under this section shall not be taken into account in determining any deduction or credit under this chapter. (2) Exception for child tax credit