Reducing Tax Preparation Burdens for American Investments and Repairs Act

Summary

Reducing Tax Preparation Burdens for American Investments and Repairs Act This bill directs the Department of the Treasury to amend Treasury regulations relating to the election of a taxpayer to expense in the current taxable year certain depreciable business assets that would otherwise be capitalized and depreciated over a period of time. Current regulations provide for a safe harbor rule that allows expensing of such assets that do not exceed $500 per invoice for taxpayers without applicable financial statements. This bill would increase the safe harbor threshold to $2,500 per invoice for such taxpayers for taxable years beginning after 2015.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 July 2015

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• Introduced in House (PDF)

  Introduced in House · EN · 29 July 2015

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• Introduced in House

  summary · EN · 29 July 2015

  Open at official source

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