S Corporation Permanent Tax Relief Act of 2014

House Bill 4453 - S Corporation Permanent Tax Relief Act of 2014: Overview, Status, and Impact

Hozzl · 2024-03-14T12:48:49Z

Explore the details of House Bill 4453 S Corporation Permanent Tax Relief Act of 2014 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

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.

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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