A bill to repeal the contemporaneous record requirement for substantiating certain trade or business expenses adopted by the Tax Reform Act of 1984 and to reinstate the substantiation requirement in effect before the enactment of such Act.

Amends the Internal Revenue Code to repeal the requirement that contemporaneous records be kept to substantiate deductions with respect to: (1) business travel expenses, including automobile expenses; (2) business entertainment expenses; and (3) expenses for gifts.