HR 947 · 113th Congress 2013–2015, ended

Small Business Accounting and Tax Simplification Act

Introduced Mar 5, 2013 Originated House Sponsor Aaron Schock R-IL

Fact sheet

Latest action · Mar 5, 2013 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedMar 5, 2013
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

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.

Cosponsors 1

Members who signed on, in the order they did. All signed on Mar 5, 2013.

SeatCosponsorSigned on
D-CAMike ThompsonOriginalMar 5, 2013

Actions 2

Everything that happened, newest first.

  1. Mar 5, 2013Introduced in House
  2. Mar 5, 2013Referred to the House Committee on Ways and Means.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
S 1085Small Business Tax Certainty and Growth Act of 2013Related billJun 3, 2013

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

  1. Mar 5, 2013Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.