Cash Accounting for Small Business Act of 2001

Summary

Cash Accounting for Small Business Act of 2001 - Amends the Internal Revenue Code to prohibit an eligible taxpayer from being required to use an accrual method of accounting for a taxable year if the such taxpayer's average annual gross receipts for the preceding three-year period does not exceed $5 million (to be adjusted for inflation). States that eligible small business taxpayers shall not be required to use inventories, and that property shall be treated as a material which is not incidental.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 14 February 2001

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 14 February 2001

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• Introduced in Senate

  summary · EN · 14 February 2001

  Open at official source

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