S. 1827: Small Business Tax Compliance Relief Act of 2015

114th Congress · introduced 2015-07-22 · Taxation · Latest: Committee on Small Business and Entrepreneurship. Hearings held.

federal

Follow this bill, step by step

Where it came from: introduced 2015-07-22 · official record
Who proposed it: Sen. Vitter, David [R-LA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Committee on Small Business and Entrepreneurship. Hearings held. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Small Business Tax Compliance Relief Act of 2015

Plain summary

Small Business Tax Compliance Relief Act of 2015 This bill amends provisions of the the Internal Revenue Code relating to the taxation of small businesses to: allow small business entities with gross receipts not exceeding $10 million (currently, $5 million) to use the cash method of accounting and an exemption from the requirement to use inventories; eliminate restrictions on the depreciation of computers or peripheral equipment; extend the tax deduction for the health insurance costs of self-employed individuals; allow small business entities to maintain pension plans designated as flexible retirement accounts; repeal provisions for simple pension plans and simple individual retirement accounts and special rules for top-heavy pension plans; require inflation adjustments after 2015 to the dollar amounts of specified tax exclusions and deductions; allow a reasonable cause exception to noncompliance penalties; modify return due dates for partnerships, C corporations, S corporations, and other entities; modifiy the application of tax rules for nonqualified deferred compensation plans; and reduce from 5 years to 3 years the required holding period for qualified small business stock and extend the rollover period for such stock. The bill directs: (1) the Department of the Treasury to modify Treasury regulations for the expensing of tangible property to increase from $500 to $2,500 the de minimis safe harbor amount for taxpayers without applicable financial statements; and (2) the Internal Revenue Service to implement procedures for the review of regulations affecting small business and report on uniform statutory definitions relating to small business and on improvements in customer service to small business.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

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What does this mean? (plain words)

Official text

Small Business Tax Compliance Relief Act of 2015

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Vitter, David [R-LA] · 0 cosponsors

Cost estimate: No cost estimate published yet.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (4)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Statute: A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114s1827.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>

Record fed-us-cong114-s1827 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114