A bill to amend the Internal Revenue Code of 1954 to limit the extension of the statute of limitations, in the case of an election by a taxpayer, to postpone a determination under the hobby loss rules, to the hobby loss issue alone and not to unrelated items on the taxpayer's return.

Summary

Extends under the Internal Revenue Code the statutory period for the assessment of any deficiency attributable to the disallowance of a deduction incurred in an activity not engaged in for profit.

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Documents

1 official file

• Introduced in House

  summary · EN · 6 June 1975

  Open at official source

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