US HB6579 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 57-0)
Status: Introduced on April 21 2020 - 25% progression, died in committee
Action: 2020-04-21 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 21 2020 - 25% progression, died in committee
Action: 2020-04-21 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Makes permanent the limitation on excess business losses of noncorporate taxpayers and allows certain taxpayers a two-year carryback of net operating losses arising in 2020.
Title
To amend the Internal Revenue Code of 1986 to allow certain taxpayers a 2-year carryback of net operating losses and to restore and make permanent the limitation on excess business losses of non-corporate taxpayers.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2020-04-21 | House | Referred to the House Committee on Ways and Means. |
2020-04-21 | House | Introduced in House |
Same As/Similar To
SB3640 (Related) 2020-05-07 - Read twice and referred to the Committee on Finance.
Subjects
Agricultural prices, subsidies, credit
Business expenses
Income tax deductions
Small business
Tax administration and collection, taxpayers
Taxation
Business expenses
Income tax deductions
Small business
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/6579/all-info |
Text | https://www.congress.gov/116/bills/hr6579/BILLS-116hr6579ih.pdf |