Allows, under the Internal Revenue Code, a taxpayer who is on an accrual method of accounting to elect not to include in gross income for the taxable year the income attributable to the sale of any magazine or other periodical sold for display purposes which is returned not later than the 15th day of the third month after the close of the taxable year, or otherwise establishes in accordance with regulations established by the Secretary of the Treasury that the periodical has not been sold and will not be sold.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1354.
Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1354.
Measure called up under motion to suspend rules and pass in House.
Measure considered in House.
Passed/agreed to in House: Measure passed House, amended.
Measure passed House, amended.
Referred to Senate Committee on Finance.
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