Small Business Tax Accounting Simplification Act of 2000

Small Business Tax Accounting Simplification Act of 2000 - Amends the Internal Revenue Code to permit certain small businesses to use cash accounting.

Declares that a taxpayer: (1) (including certain C corporations or partnerships with a C corporation partner) shall not be required to use an accrual method of accounting for any taxable year by reason of using merchandise or inventory, if the taxpayer's (or any predecessor's) average annual gross receipts for the three-year period ending with such prior taxable year does not exceed $5 million; and (2) shall not be required to use inventories to determine income if merchandise costs for the preceding year were less than 50 percent of gross receipts for such year.