A bill to amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains for S corporations.
Latest action · Dec 18, 2013 Read twice and referred to the Committee on Finance.
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.
- IntroducedDec 18, 2013
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to reduce from 10 to 5 years the period during which the built-in gains of an S corporation are subject to tax and to make such reduction permanent.
Cosponsors 1
Members who signed on, in the order they did. All signed on Dec 18, 2013.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-KS | Pat Roberts | Original | Dec 18, 2013 |
Actions 2
Everything that happened, newest first.
- Dec 18, 2013Introduced in Senate
- Dec 18, 2013Read twice and referred to the Committee on Finance.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1 | Tax Reform Act of 2014 | Related bill | Dec 12, 2014 |
| HR 892 | S Corporation Modernization Act of 2013 | Related bill | Feb 28, 2013 |
| HR 4453 | S Corporation Permanent Tax Relief Act of 2014 | Related bill | Jun 17, 2014 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Dec 18, 2013Introduced in Senate
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.