US HB6391 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on March 25 2020 - 25% progression, died in committee
Action: 2020-03-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 25 2020 - 25% progression, died in committee
Action: 2020-03-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allows certain small businesses (fewer than 250 employees) a 5-year carryback of net operating losses incurred in 2020 due to COVID-19 (i.e., the coronavirus disease 2019).
Title
To amend the Internal Revenue Code of 1986 to allow for a 5-year carryback of operating losses of small businesses, and for other purposes.
Sponsors
Rep. Bradley Schneider [D-IL] |
History
Date | Chamber | Action |
---|---|---|
2020-03-25 | House | Referred to the House Committee on Ways and Means. |
2020-03-25 | House | Introduced in House |
Subjects
Administrative law and regulatory procedures
Business expenses
Cardiovascular and respiratory health
Department of the Treasury
Emergency medical services and trauma care
Income tax deductions
Infectious and parasitic diseases
Small business
Taxation
Business expenses
Cardiovascular and respiratory health
Department of the Treasury
Emergency medical services and trauma care
Income tax deductions
Infectious and parasitic diseases
Small business
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/6391/all-info |
Text | https://www.congress.gov/116/bills/hr6391/BILLS-116hr6391ih.pdf |