HR 4061
117th Congress
House
Taxation
Accounting and auditing
Contracts and agency
Housing industry and standards
Tax administration and collection, taxpayers
Fair Accounting for Condominium Construction Act
Introduced: June 22, 2021
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 22, 2021
Referred to the House Committee on Ways and Means.
Jun 22, 2021
Introduced in House
Plain-English summary
Fair Accounting for Condominium Construction Act
This bill exempts certain residential construction contracts from the requirement to use the percentage of completion method of accounting. The percentage of completion method is a tax accounting method in which the revenues and expenses of long-term contracts are recognized as a percentage of the work completed in a particular period.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1