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S 1758 98th Congress Senate Taxation Accounting Depreciation and amortization Income tax Tax deductions Tax reform

Accounting Cost Recovery Simplification Act of 1983

Introduced: August 3, 1983 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 24, 1984
Subcommittee on Taxation and Debt Management. Hearings held.
Aug 22, 1983
Committee on Finance requested executive comment from OMB, Treasury Department.
Aug 3, 1983
Read twice and referred to the Committee on Finance.
Aug 3, 1983
Introduced in Senate
 Plain-English summary Congressional Research Service

Accounting Cost Recovery Simplification Act of 1983 - Amends the Internal Revenue Code to establish a recovery account system for calculating the depreciation deduction under the accelerated cost recovery system for three and five year personal property. Determines the recovery deduction each year by computing a percentage of the amount in the recovery account.

Sets forth rules and guidelines for the maintenance and operation of the recovery accounts.

What's happening now February 24, 1984

Subcommittee on Taxation and Debt Management. Hearings held.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1