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Searching...- Bills
- H.R.656
H.R.656: Cash Accounting for Small Business Act of 2001
About This Bill
- This bill was introduced in the 107th Congress
- This bill is primarily about taxation
- Introduced Feb. 14, 2001
- Latest Major Action Feb. 14, 2001
Bill Sponsor
Bill Cosponsors
19 (6 Democrats, 14 Republicans)
Bill Summary
Cash Accounting for Small Business Act of 2001 - Amends the Internal Revenue Code to prohibit an eligible taxpayer from being required to use an accrual method of accounting for a taxable year if the such taxpayer's average annual gross receipts for the preceding three-year period does not exceed $5 million (to be adjusted for inflation).States that eligible small business taxpayers shall not be required to use inventories, and that property...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
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Sponsor introductory remarks on measure.
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Referred to the House Committee on Ways and Means.
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| Feb. 14, 2001 |
Introduced in the House by Wally Herger (R-Calif.) |