To amend the Internal Revenue Code of 1986 to clarify that certain small businesses are permitted to use the cash method of accounting even if they use merchandise or inventory.

Summary

Amends the Internal Revenue Code to permit certain small businesses to use cash accounting. Declares that a taxpayer (including a C corporation or a partnership which has a C corporation as a partner) shall not be required to use an accrual method of accounting for any taxable year by reason of using merchandise or inventory, if the taxpayer's (or any predecessor's) average annual gross receipts for the three-year-period ending with such prior taxable year does not exceed $5 million.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 17 June 1999

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 17 June 1999

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 June 1999

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 June 1999 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 June 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 June 1999

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 17 June 1999

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Talent, Jim [R-MO] · R · Sponsor
• Rep. English, Phil [R-PA-3] · R · Sponsor
• Rep. Pickett, Owen B. [D-VA-2] · D · Cosponsor
• Rep. Manzullo, Donald A. [R-IL-16] · R · Cosponsor
• Rep. Kelly, Sue W. [R-NY-19] · R · Cosponsor
• Rep. Herger, Wally [R-CA-2] · R · Cosponsor
• Rep. Wolf, Frank R. [R-VA-10] · R · Cosponsor
• Rep. Terry, Lee [R-NE-2] · R · Cosponsor
• Rep. Souder, Mark E. [R-IN-3] · R · Cosponsor
• Rep. Myrick, Sue Wilkins [R-NC-9] · R · Cosponsor
• Rep. Biggert, Judy [R-IL-13] · R · Cosponsor
• Rep. Bryant, Ed [R-TN-7] · R · Cosponsor
• Rep. Andrews, Robert E. [D-NJ-1] · D · Cosponsor
• Rep. Velázquez, Nydia M. [D-NY-7] · D · Cosponsor
• · hswm00 · Standing

Related records

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