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- H.R.947
H.R.947: Small Business Accounting and Tax Simplification Act
About This Bill
- Introduced March 5, 2013
- Latest Major Action March 5, 2013
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsor
Bill Summary
Small Business Accounting and Tax Simplification Act - Amends the Internal Revenue Code to exempt certain small business taxpayers from the requirements of using the accrual method of accounting and of using inventories. Allows such taxpayers to use a cash method of accounting if they meet the gross receipts test and are not engaged in farming as a corporation. Increases the amount of the gross receipts test to $10 million (currently, $5...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| March 5, 2013 |
Referred to the House Committee on Ways and Means.
|
| March 5, 2013 |
Introduced in the House by Aaron Schock (R-Ill.) |