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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.
2/8/2022, 11:17 PM
Congressional Summary of HR 6391
This bill 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).
Read the Full Bill
Current Status of Bill HR 6391
Bill HR 6391 is currently in the status of Bill Introduced since March 25, 2020. Bill HR 6391 was introduced during Congress 116 and was introduced to the House on March 25, 2020. Bill HR 6391's most recent activity was Referred to the House Committee on Ways and Means. as of March 25, 2020
Bipartisan Support of Bill HR 6391
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 6391
Primary Policy Focus
TaxationPotential Impact Areas
- 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
Alternate Title(s) of Bill HR 6391
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.
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.
Comments
Sponsors and Cosponsors of HR 6391
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