A bill to amend the Internal Revenue Code of 1954 to exclude from gross income any employee achievement award to the extent that a deduction is allowable to the employer for such award.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income the value of tangible personal property which is awarded to an employee by his employer by reason of length of service, productivity, or safety achievements. Limits the amount of such exclusion to the amount which would be allowable as an income tax deduction to the employer. Requires employers to make informational returns relating to employee achievement awards.…