US Congress House Bill 4643 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 12-6)
Status: Introduced on April 25 2012 - 25% progression, died in committee
Action: 2012-04-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Small Business 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.

Small Business Tax Simplification Act

Rep. Rick Berg [R-ND]	Rep. Francisco Canseco [R-TX]	Rep. Anna Eshoo [D-CA]	Rep. Jim Gerlach [R-PA]
Rep. Colleen Hanabusa [D-HI]	Rep. Wally Herger [R-CA]	Rep. Lynn Jenkins [R-KS]	Rep. Billy Long [R-MO]
Rep. Jeff Miller [R-FL]	Rep. Sue Myrick [R-NC]	Rep. Richard Neal [D-MA]	Rep. Charles Rangel [D-NY]
Rep. Peter Roskam [R-IL]	Rep. Aaron Schock [R-IL]	Rep. Adam Smith [D-WA]	Rep. Mike Thompson [D-CA]
Rep. Tim Walberg [R-MI]	Rep. Kevin Yoder [R-KS]

Date	Chamber	Action
2012-04-25	House	Referred to the House Committee on Ways and Means.
2012-04-25	House	Sponsor introductory remarks on measure. (CR H2108)

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/4643/all-info
Text	https://www.congress.gov/112/bills/hr4643/BILLS-112hr4643ih.pdf