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S Corporation Permanent Tax Relief Act of 2014
3/14/2024, 12:48 PM
Congressional Summary of HR 4453
S Corporation Permanent Tax Relief Act of 2014 - Amends the Internal Revenue Code, with respect to the taxation of S corporations, to make permanent: (1) the reduction of the period (10 to 5 years) during which the built-in gains of such corporations are subject to tax, and (2) the rule requiring an adjustment to the basis of an shareholder's stock in an S corporation that makes tax deductible contributions of appreciated property.
Prohibits the entry of the budgetary effects of this Act on any PAYGO (Pay As You Go) scorecard.
Read the Full Bill
Current Status of Bill HR 4453
Bill HR 4453 is currently in the status of Bill Introduced since April 10, 2014. Bill HR 4453 was introduced during Congress 113 and was introduced to the House on April 10, 2014. Bill HR 4453's most recent activity was Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 433. as of June 17, 2014
Bipartisan Support of Bill HR 4453
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
1Republican Cosponsors
1Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4453
Primary Policy Focus
TaxationPotential Impact Areas
- Accounting and auditing
- Business investment and capital
- Capital gains tax
- Securities
- Small business
- Tax administration and collection, taxpayers
Alternate Title(s) of Bill HR 4453
S Corporation Permanent Tax Relief Act of 2014
To amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains of S corporations.
Permanent S Corporation Built-in Gains Recognition Period Act of 2014
S Corporation Permanent Tax Relief Act of 2014
Comments
Sponsors and Cosponsors of HR 4453
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