Skip to main content
HR 947 113th Congress House Taxation Accounting and auditing Small business Tax administration and collection, taxpayers

Small Business Accounting and Tax Simplification Act

Introduced: March 5, 2013 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 5, 2013
Referred to the House Committee on Ways and Means.
Mar 5, 2013
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now March 5, 2013

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1