To amend the Internal Revenue Code of 1986 to allow for a 5-year carryback of operating losses of small businesses, and for other purposes.

Summary

This bill allows certain small businesses (fewer than 250 employees) a 5-year carryback of net operating losses incurred in 2020 due to COVID-19 (i.e., the coronavirus disease 2019).

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

Timeline

1. 25 March 2020

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 25 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 25 March 2020 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 March 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 March 2020

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 March 2020

  Open at official source

Sponsors

• Bradley Schneider · D · Sponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.