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S 2246 106th Congress Senate

Small Business Tax Accounting Simplification Act of 2000

Official title: A bill to amend the Internal Revenue code of 1986 to clarify that certain small businesses are permitted to use the cash method of accounting even if they use merchandise or inventory.

Introduced: March 9, 2000 See on congress.gov
Taxation AccountingBusiness income taxCommerceFinance and Financial Sector
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Income taxInventoriesService industriesSmall businessTax administration
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 9, 2000
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1420-1421)
Mar 9, 2000
Sponsor introductory remarks on measure. (CR S1419-1420)
Mar 9, 2000
Introduced in Senate
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 Latest action March 9, 2000

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1420-1421)

 Plain-English summary Congressional Research Service
Small Business Tax Accounting Simplification Act of 2000 - Amends the Internal Revenue Code to permit certain small businesses to use cash accounting.

Declares that a taxpayer: (1) (including certain C corporations or partnerships with a C corporation partner) shall not be required to use an accrual method of accounting for any taxable year by reason of using merchandise or inventory, if the taxpayer's (or any predecessor's) average annual gross receipts for the three-year period ending with such prior taxable year does not exceed $5 million; and (2) shall not be required to use inventories to determine income if merchandise costs for the preceding year were less than 50 percent of gross receipts for such year.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Mar 9, 2000
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2246: Small Business Tax Accounting Simplification Act of 2000. 106th Congress. Open America. https://openamerica.io/bill/106-S-2246/
MLA
"S. 2246: Small Business Tax Accounting Simplification Act of 2000." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-S-2246/.
Bluebook (legal)
S. 2246, 106th Cong. (2026), https://openamerica.io/bill/106-S-2246/.
Markdown link
[S. 2246: Small Business Tax Accounting Simplification Act of 2000](https://openamerica.io/bill/106-S-2246/)
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