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United States · Bill · HR

H.R. 2860 (97th)

A bill to amend the Internal Revenue Code of 1954 with respect to the limitation on the acceleration of the accrual of taxes.

openUnited States· United States Congress· EN

Introduced

25 March 1981

Last action

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Status

Other Measure H.R.4961 Forwarded by Subcommittee to Full Committee in Lieu.

Sponsors

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Subjects

Discovery layer

Source updated

7 February 2024

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to permit accrual basis taxpayers to exempt themselves from the application of tax rules limiting the acceleration of accrual of taxes by a taxing jurisdiction if they so elect or if such taxpayers were not liable for any tax prior to the effective period of acceleration. Sets forth rules for the accounting of accruals in the case of taxpayers who make such an election.

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Documents

1 official file

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Sources

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