US Congress House Bill 3508 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on July 27 2017 - 25% progression, died in committee
Action: 2017-07-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

To amend the Internal Revenue Code of 1986 to provide for a small partnership exception from certain requirements. This bill amends the Internal Revenue Code to exempt small partnerships from certain requirements relating to tax returns. The exception applies to any partnership having 10 or fewer partners, each of whom is an individual (other than a nonresident alien), a C corporation, or an estate of a deceased partner. For the purpose of the exception, a husband and wife (and their estates) must be treated as one partner. The bill allows a partnership to elect to have deficiency procedures apply to the assessment or collection of any underpayment of tax attributable to certain adjustments involving a change in a partner's distributive share of the amount of any partnership item shown on the partnership return.

To amend the Internal Revenue Code of 1986 to provide for a small partnership exception from certain requirements.

Rep. James Renacci [R-OH]

Rep. Warren Davidson [R-OH]

Date	Chamber	Action
2017-07-27	House	Referred to the House Committee on Ways and Means.
2017-07-27	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/3508/all-info
Text	https://www.congress.gov/115/bills/hr3508/BILLS-115hr3508ih.pdf