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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (1)

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

A bill to amend the Internal Revenue Code of 1986 to allow certain entities to elect not to make changes in their taxable years required by the Tax Reform Act of 1986, and for other purposes.


Actions Overview (1)

Date Actions Overview
07/21/1987Introduced in House

All Actions (3)

Date All Actions
12/22/1987See H.R.3545.
07/21/1987Referred to House Committee on Ways and Means.
Action By: House of Representatives
07/21/1987Introduced in House
Action By: House of Representatives

Cosponsors (191)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Schulze, Richard T. [R-PA-5]* 07/21/1987
Rep. McGrath, Raymond J. [R-NY-5]* 07/21/1987
Rep. Brown, Hank [R-CO-4]* 07/21/1987
Rep. Matsui, Robert T. [D-CA-3]* 07/21/1987
Rep. Dorgan, Byron L. [D-ND-At Large]* 07/21/1987
Rep. Daub, Hal [R-NE-2]* 07/21/1987
Rep. Chandler, Rod D. [R-WA-8]* 07/21/1987
Rep. Gregg, Judd [R-NH-2]* 07/21/1987
Rep. Frenzel, Bill [R-MN-3]* 07/21/1987
Rep. Anthony, Beryl, Jr. [D-AR-4]* 07/21/1987
Rep. Crane, Philip M. [R-IL-12]* 07/21/1987
Rep. Gekas, George W. [R-PA-17]* 07/21/1987
Rep. Lloyd, Marilyn [D-TN-3]* 07/21/1987
Rep. Weldon, Curt [R-PA-7]* 07/21/1987
Rep. Porter, John Edward [R-IL-10]* 07/21/1987
Rep. Johnson, Tim [D-SD-At Large]* 07/21/1987
Rep. Petri, Thomas E. [R-WI-6]* 07/21/1987
Rep. Barnard, Doug, Jr. [D-GA-10]* 07/21/1987
Rep. MacKay, Buddy [D-FL-6]* 07/21/1987
Rep. Bevill, Tom [D-AL-4]* 07/21/1987
Rep. Shaw, E. Clay, Jr. [R-FL-15]* 07/21/1987
Rep. Vander Jagt, Guy [R-MI-9]* 07/21/1987
Rep. DioGuardi, Joseph J. [R-NY-20]* 07/21/1987
Rep. Daniel, W. C. (Dan) [D-VA-5]* 07/21/1987
Rep. Gunderson, Steve [R-WI-3]* 07/21/1987
Rep. Skaggs, David E. [D-CO-2]* 07/21/1987
Rep. Pickett, Owen B. [D-VA-2]* 07/21/1987
Rep. Coyne, William J. [D-PA-14]* 07/21/1987
Rep. Frank, Barney [D-MA-4]* 07/21/1987
Rep. Duncan, John J. [R-TN-2]* 07/21/1987
Rep. Neal, Stephen L. [D-NC-5] 08/07/1987
Rep. Smith, Lawrence [D-FL-16] 08/07/1987
Rep. Darden, George (Buddy) [D-GA-7] 08/07/1987
Rep. Fazio, Vic [D-CA-4] 08/07/1987
Rep. Lightfoot, Jim [R-IA-5] 08/07/1987
Rep. Clinger, William F., Jr. [R-PA-23] 08/07/1987
Rep. English, Glenn [D-OK-6] 08/07/1987
Rep. Kanjorski, Paul E. [D-PA-11] 08/07/1987
Rep. Whittaker, Bob [R-KS-5] 08/07/1987
Rep. Owens, Wayne [D-UT-2] 08/07/1987
Rep. Bentley, Helen Delich [R-MD-2] 08/07/1987
Rep. Weber, Vin [R-MN-2] 08/07/1987
Rep. Saiki, Patricia [R-HI-1] 08/07/1987
Rep. Harris, Claude [D-AL-7] 08/07/1987
Rep. Gingrich, Newt [R-GA-6] 08/07/1987
Rep. Ford, Harold E. [D-TN-9] 08/07/1987
Rep. Hughes, William J. [D-NJ-2] 08/07/1987
Rep. Nichols, Bill [D-AL-3] 08/07/1987
Rep. Gibbons, Sam [D-FL-7] 08/07/1987
Rep. Gradison, Willis D., Jr. [D-OH-2] 08/07/1987
Rep. Smith, Virginia [R-NE-3] 08/07/1987
Rep. Jenkins, Edgar L. [D-GA-9] 08/07/1987
Rep. Callahan, Sonny [R-AL-1] 08/07/1987
Rep. Penny, Timothy J. [D-MN-1] 08/07/1987
Rep. Swift, Al [D-WA-2] 08/07/1987
Rep. Jontz, Jim [D-IN-5] 08/07/1987
Rep. Guarini, Frank J. [D-NJ-14] 08/07/1987
Rep. McMillan, J. Alex [R-NC-9] 08/07/1987
Rep. Wolf, Frank R. [R-VA-10] 08/07/1987
Rep. Mazzoli, Romano L. [D-KY-3] 08/07/1987
Rep. Lewis, Thomas F. [R-FL-12] 08/07/1987
Rep. Skeen, Joe [R-NM-2] 08/07/1987
Rep. Martin, David O'B. [R-NY-26] 08/07/1987
Rep. Morrison, Sid [R-WA-4] 08/07/1987
Rep. Hubbard, Carroll, Jr. [D-KY-1] 08/07/1987
Rep. Upton, Fred [R-MI-4] 08/07/1987
Rep. Thomas, William M. [R-CA-20] 08/07/1987
Rep. Andrews, Michael [D-TX-25] 09/16/1987
Rep. Livingston, Bob [R-LA-1] 09/16/1987
Rep. Donnelly, Brian J. [D-MA-11] 09/16/1987
Rep. Grandy, Fred [R-IA-6] 09/16/1987
Rep. Nowak, Henry [D-NY-33] 09/16/1987
Rep. Leach, James A. [R-IA-1] 09/16/1987
Rep. Morella, Constance A. [R-MD-8] 09/16/1987
Rep. Coble, Howard [R-NC-6] 09/16/1987
Rep. Ballenger, Cass [R-NC-10] 09/16/1987
Rep. Dowdy, Wayne [D-MS-4] 09/16/1987
Rep. Jones, Walter B. [D-NC-1] 09/16/1987
Rep. Boehlert, Sherwood [R-NY-25] 09/16/1987
Rep. Vento, Bruce F. [D-MN-4] 09/16/1987
Rep. Price, David E. [D-NC-4] 09/16/1987
Rep. Conte, Silvio O. [R-MA-1] 09/16/1987
Rep. Shumway, Norman D. [R-CA-14] 09/16/1987
Rep. Hawkins, Augustus F. [D-CA-29] 09/16/1987
Rep. Torricelli, Robert G. [D-NJ-9] 09/16/1987
Rep. Walker, Robert S. [R-PA-16] 09/16/1987
Rep. Kennelly, Barbara B. [D-CT-1] 09/16/1987
Rep. Kostmayer, Peter H. [D-PA-8] 09/16/1987
Rep. Yatron, Gus [D-PA-6] 09/16/1987
Rep. Natcher, William H. [D-KY-2] 09/16/1987
Rep. McDade, Joseph M. [R-PA-10] 09/16/1987
Rep. Gordon, Bart [D-TN-6] 09/16/1987
Rep. Derrick, Butler C. [D-SC-3] 09/16/1987
Rep. Montgomery, G. V. (Sonny) [D-MS-3] 09/16/1987
Rep. Mfume, Kweisi [D-MD-7] 09/16/1987
Rep. Oakar, Mary Rose [D-OH-20] 09/16/1987
Rep. Byron, Beverly B. [D-MD-6] 09/16/1987
Rep. Jacobs, Andrew, Jr. [D-IN-10] 09/16/1987
Rep. Anderson, Glenn M. [D-CA-32] 09/16/1987
Rep. Bartlett, Steve [R-TX-3] 09/16/1987
Rep. Combest, Larry [R-TX-19] 09/16/1987
Rep. Hefner, W. G. (Bill) [D-NC-8] 09/16/1987
Rep. Wise, Robert E., Jr. [D-WV-3] 09/16/1987
Rep. Smith, Denny [R-OR-5] 09/16/1987
Rep. Buechner, Jack [R-MO-2] 09/16/1987
Rep. Oxley, Michael G. [R-OH-4] 09/16/1987
Rep. Sawyer, Tom [D-OH-14] 09/16/1987
Rep. Roemer, Buddy [D-LA-4] 09/16/1987
Rep. Rinaldo, Matthew J. [R-NJ-7] 09/16/1987
Rep. Saxton, Jim [R-NJ-13] 09/16/1987
Rep. Gilman, Benjamin A. [R-NY-22] 09/16/1987
Rep. Espy, Mike [D-MS-2] 09/16/1987
Rep. Armey, Richard K. [R-TX-26] 09/16/1987
Rep. Hefley, Joel [R-CO-5] 09/16/1987
Rep. Roe, Robert A. [D-NJ-8] 09/16/1987
Rep. Durbin, Richard J. [D-IL-20] 09/16/1987
Rep. Borski, Robert A. [D-PA-3] 09/16/1987
Rep. McEwen, Bob [R-OH-6] 09/16/1987
Rep. Ravenel, Arthur, Jr. [R-SC-1] 09/16/1987
Rep. Lott, Trent [R-MS-5] 09/16/1987
Rep. Sharp, Philip R. [D-IN-2] 09/16/1987
Rep. Coughlin, Lawrence [R-PA-13] 09/16/1987
Rep. Badham, Robert E. [R-CA-40] 09/16/1987
Rep. McCloskey, Frank [D-IN-8] 09/16/1987
Rep. Levin, Sander M. [D-MI-17] 09/16/1987
Rep. Barton, Joe [R-TX-6] 09/16/1987
Rep. Traxler, Bob [D-MI-8] 10/07/1987
Rep. Bunning, Jim [R-KY-4] 10/07/1987
Rep. Thomas, Lindsay [D-GA-1] 10/07/1987
Rep. Meyers, Jan [R-KS-3] 10/07/1987
Rep. Holloway, Clyde [R-LA-8] 10/07/1987
Rep. Robinson, Tommy F. [D-AR-2] 10/07/1987
Rep. Howard, James J. [D-NJ-3] 10/07/1987
Rep. Smith, Robert [R-OR-2] 10/07/1987
Rep. Stump, Bob [R-AZ-3] 10/07/1987
Rep. Grant, Bill [D-FL-2] 10/07/1987
Rep. Wolpe, Howard E. [D-MI-3] 10/07/1987
Rep. Young, C. W. Bill [R-FL-8] 10/07/1987
Rep. Boulter, Beau [R-TX-13] 10/07/1987
Rep. Lancaster, H. Martin [D-NC-3] 10/07/1987
Rep. Wyden, Ron [D-OR-3] 10/07/1987
Rep. Bilirakis, Michael [R-FL-9] 10/07/1987
Rep. Craig, Larry E. [R-ID-1] 10/07/1987
Rep. Emerson, Bill [R-MO-8] 10/07/1987
Rep. Hansen, James V. [R-UT-1] 10/07/1987
Rep. Ridge, Thomas J. [R-PA-21] 10/07/1987
Rep. Mollohan, Alan B. [D-WV-1] 10/07/1987
Rep. Fields, Jack [R-TX-8] 10/07/1987
Rep. Ray, Richard B. [D-GA-3] 10/07/1987
Rep. Wilson, Charles [D-TX-2] 10/07/1987
Rep. Slattery, Jim [D-KS-2] 10/07/1987
Rep. Hopkins, Larry J. [R-KY-6] 10/07/1987
Rep. Schaefer, Dan [R-CO-6] 10/07/1987
Rep. Pashayan, Charles, Jr. [R-CA-17] 10/07/1987
Rep. Hatcher, Charles [D-GA-2] 10/07/1987
Rep. Dreier, David [R-CA-33] 10/07/1987
Rep. Packard, Ron [R-CA-43] 10/07/1987
Rep. Bennett, Charles E. [D-FL-3] 10/07/1987
Rep. Schuette, Bill [R-MI-10] 10/07/1987
Rep. Wortley, George C. [R-NY-27] 10/07/1987
Rep. Richardson, Bill [D-NM-3] 10/07/1987
Rep. Perkins, Carl C. [D-KY-7] 10/07/1987
Rep. Miller, Clarence E. [R-OH-10] 10/07/1987
Rep. Dickinson, William L. [R-AL-2] 10/07/1987
Rep. Ritter, Don [R-PA-15] 10/07/1987
Rep. Rowland, J. Roy [D-GA-8] 10/07/1987
Rep. Cheney, Dick [R-WY-At Large] 10/07/1987
Rep. Pickle, J. J. [D-TX-10] 10/07/1987
Rep. Baker, Richard H. [R-LA-6] 10/29/1987
Rep. Chappell, Bill, Jr. [D-FL-4] 10/29/1987
Rep. Lehman, William [D-FL-17] 10/29/1987
Rep. Gray, William H., III [D-PA-2] 10/29/1987
Rep. Spratt, John M., Jr. [D-SC-5] 10/29/1987
Rep. Young, Don [R-AK-At Large] 10/29/1987
Rep. Horton, Frank J. [R-NY-29] 10/29/1987
Rep. Panetta, Leon [D-CA-16] 10/29/1987
Rep. Florio, James J. [D-NJ-1] 10/29/1987
Rep. Swindall, Patrick L. [R-GA-4] 10/29/1987
Rep. Price, Melvin [D-IL-21] 10/29/1987
Rep. Akaka, Daniel K. [D-HI-2] 10/29/1987
Rep. DeLay, Tom [R-TX-22] 10/29/1987
Rep. Tallon, Robert M. (Robin) [D-SC-6] 10/29/1987
Rep. Mrazek, Robert J. [D-NY-3] 10/29/1987
Rep. Dwyer, Bernard J. [D-NJ-6] 10/29/1987
Rep. Berman, Howard L. [D-CA-26] 10/29/1987
Rep. Cooper, Jim [D-TN-4] 10/29/1987
Rep. Coats, Daniel [R-IN-4] 10/29/1987
Rep. Davis, Jack [R-IL-4] 10/29/1987
Rep. Solomon, Gerald B. H. [R-NY-24] 10/29/1987
Rep. Walgren, Doug [D-PA-18] 10/29/1987
Rep. Bryant, John W. [D-TX-5] 10/29/1987

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means07/21/1987 Referred to

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.


Subjects (13)


Latest Summary (1)

There is one summary for H.R.2977. View summaries

Shown Here:
Introduced in House (07/21/1987)

Amends the Internal Revenue Code to permit a partnership, S corporation, or personal service corporation, unless it is part of a tiered structure, to elect to have a taxable year other than the required one, but generally only if the deferral period of the taxable year elected is three months or less. (Current law requires partnerships, S corporations, and personal service corporations, in most cases, to conform their taxable years to the calendar years used by their owners.)

Subjects the principals of a partnership or S corporation electing to change taxable years to additional estimated tax requirements to offset any tax deferral resulting from such election. Imposes deduction limitations on a personal service corporation that changes taxable years.

Provides that an election with respect to taxable year shall be made by the partnership, S corporation, or personal service corporation and shall be binding on all partners and shareholders.

Sets forth the formula for determining the additional tax requirement when a taxpayer: (1) is a partner or shareholder in at least one such entity during any applicable election years of the entity that end within the taxpayer's taxable year; and (2) has an aggregate deferred tax exceeding $200 with respect to the entity. Describes payment procedures.

Requires the inclusion of specified information on returns filed by partnerships and S corporations that elect to use a non-required taxable year.

Limits the tax deduction permitted to a personal service corporation for amounts paid or incurred with respect to employee-owners when such a corporation: (1) elects to have a taxable year other than the required one; and (2) fails to meet certain minimum distribution requirements regarding non-dividend amounts paid to owners.