HR 5818
114th Congress
House
Taxation
Administrative law and regulatory procedures
Business expenses
Business investment and capital
Income tax deductions
Mandated Expenses Tax Relief Act
Introduced: July 14, 2016
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 14, 2016
Referred to the House Committee on Ways and Means.
Jul 14, 2016
Introduced in House
Plain-English summary
Mandated Expenses Tax Relief Act
This bill amends the Internal Revenue Code to permit a taxpayer to elect to expense the cost of federal compliance property and deduct the cost for the taxable year in which the property is placed in service. "Federal compliance property" is any property that: (1) is of a character with respect to which depreciation (or amortization in lieu of depreciation) is allowable, and (2) is used by the taxpayer to comply with any federal law or regulation.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1