Small Business Accounting and Tax Simplification Act

Summary

Small Business Accounting and Tax Simplification Act - Amends the Internal Revenue Code to exempt certain small business taxpayers from the requirements of using the accrual method of accounting and of using inventories. Allows such taxpayers to use a cash method of accounting if they meet the gross receipts test and are not engaged in farming as a corporation. Increases the amount of the gross receipts test to $10 million (currently, $5 million) and permits an annual inflation adjustment of that amount.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 March 2013

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• Introduced in House (PDF)

  Introduced in House · EN · 5 March 2013

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• Introduced in House

  summary · EN · 5 March 2013

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