H.R.3508: To amend the Internal Revenue Code of 1986 to provide for a small partnership exception from certain requirements.

This bill amends the Internal Revenue Code to exempt small partnerships from certain requirements relating to tax returns. The exception applies to any partnership having 10 or fewer partners, each of whom is an individual (other than a nonresident alien), a C corporation, or an estate of a deceased partner. For the purpose of the exception, a husband and wife (and their estates) must be treated as one partner. The bill allows a partnership...

(Source: Library of Congress)