A bill to amend the Internal Revenue Code of 1986 to provide that certain minimum tax and accounting rules (added by the Tax Reform Act of 1986) applicable to installment obligations shall not apply to obligations arising from sales of property by nondealers.

referredUnited States· United States Congress· EN

Introduced

11 March 1987

Last action

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Status

Read twice and referred to the Committee on Finance.

Summary

Amends the Internal Revenue Code to provide that specified minimum tax and accounting rules applicable to installment obligations shall not apply to obligations arising from sales of property by nondealers. Allows taxpayers to elect to have the amendments made by this Act regarding minimum tax not apply to dispositions made before January 1, 1987.

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Documents

1 official file

Introduced in Senate
summary · EN · 11 March 1987
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/100th-congress/senate-bill/719
Open data entity: https://api.congress.gov/v3/bill/100/s/719