H.R. 3508 · 115th Congress
To amend the Internal Revenue Code of 1986 to provide for a small partnership exception from certain…
Full title
To amend the Internal Revenue Code of 1986 to provide for a small partnership exception from certain requirements.
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RenacciSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Jul 27, 2017
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to provide for a small partnership exception from certain requirements.
Latest action (Jul 27, 2017): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 27, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.