Farm and Small Business Expensing Tax Relief Act

Summary

Farm and Small Business Expensing Tax Relief Act - Amends the Internal Revenue Code to allow a business taxpayer to expense up to $5,000 of the costs incurred to acquire or produce any item of tangible property if: (1) the taxpayer's average annual gross receipts during the preceding three taxable years do not exceed $10 million, and (2) the taxpayer has in effect written accounting procedures as may be prescribed by the Secretary of the Treasury.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 April 2014

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 April 2014

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• Introduced in Senate

  summary · EN · 10 April 2014

  Open at official source

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