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HR 3318 114th Congress House Taxation Accounting and auditing Administrative law and regulatory procedures Business investment and capital Department of the Treasury Income tax deductions Internal Revenue Service (IRS)

Reducing Tax Preparation Burdens for American Investments and Repairs Act

Introduced: July 29, 2015 See on congress.gov
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2015
Referred to the House Committee on Ways and Means.
Jul 29, 2015
Introduced in House
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 Plain-English summary Congressional Research Service

Reducing Tax Preparation Burdens for American Investments and Repairs Act

This bill directs the Department of the Treasury to amend Treasury regulations relating to the election of a taxpayer to expense in the current taxable year certain depreciable business assets that would otherwise be capitalized and depreciated over a period of time. Current regulations provide for a safe harbor rule that allows expensing of such assets that do not exceed $500 per invoice for taxpayers without applicable financial statements. This bill would increase the safe harbor threshold to $2,500 per invoice for such taxpayers for taxable years beginning after 2015.

What's happening now July 29, 2015

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2
R
Grothman, Glenn
Wisconsin · Sep 25, 2015
 R
Cramer, Kevin
North Dakota · Jul 29, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3318: Reducing Tax Preparation Burdens for American Investments and Repairs Act. 114th Congress. Open America. https://openamerica.io/bill/114-HR-3318/
MLA
"H.R. 3318: Reducing Tax Preparation Burdens for American Investments and Repairs Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-3318/.
Bluebook (legal)
H.R. 3318, 114th Cong. (2026), https://openamerica.io/bill/114-HR-3318/.
Markdown link
[H.R. 3318: Reducing Tax Preparation Burdens for American Investments and Repairs Act](https://openamerica.io/bill/114-HR-3318/)
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