A bill to amend section 280 of the Internal Revenue Code of 1954 to exclude from the application of such section expenses incurred by an author of a book or similar property in the writing of such book or property.

Amends the Internal Revenue Code to exempt an author's research and writing expenses from the requirement that the production expenses of a film, sound recording, book, or similar property be charged to capital account.

Allows the period for filing a refund claim under this Act to run until one year following the date of enactment.