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NFDA Urges House to Pass S Corporation Permanent Tax Relief Act of 2014

Posted: June 20, 2014

NFDA, along with 34 other associations, sent a letter to all members of the House of Representatives urging passage of the "S Corporation Permanent Tax Relief Act of 2014" (H.R. 4453).

H.R. 4453 would amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains of S corporations. According to the letter:

Enacting a permanent shorter recognition period would sustain the original intent of the rule while providing S corporations with much needed certainty. It would allow them to make decisions based on what is best for the company rather than the dictates of the tax code. At a time when our economy badly needs increased investment, allowing more companies to access their own, locked-up capital is an important step.

You can read the full letter here.

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