H.R.163 - To amend the Internal Revenue Code of 1986 to place the burden of proof on the Secretary to prove that the cash method of accounting does not clearly reflect income.105th Congress (1997-1998)
|Sponsor:||Rep. English, Phil [R-PA-21] (Introduced 01/07/1997)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 01/07/1997 Referred to the House Committee on Ways and Means. (All Actions)|
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Text: H.R.163 — 105th Congress (1997-1998)All Information (Except Text)
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Introduced in House (01/07/1997)
[Congressional Bills 105th Congress] [From the U.S. Government Printing Office] [H.R. 163 Introduced in House (IH)] 105th CONGRESS 1st Session H. R. 163 To amend the Internal Revenue Code of 1986 to place the burden of proof on the Secretary to prove that the cash method of accounting does not clearly reflect income. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 7, 1997 Mr. English of Pennsylvania introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to place the burden of proof on the Secretary to prove that the cash method of accounting does not clearly reflect income. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. BURDEN OF PROOF ON SECRETARY TO PROVE CASH METHOD OF ACCOUNTING DOES NOT CLEARLY REFLECT INCOME. (a) In General.--Subsection (b) of section 446 of the Internal Revenue Code of 1986 (relating to general rule for methods of accounting) is amended by adding at the end the following new sentence: ``In the case of a taxpayer not otherwise precluded under section 447 or 448 from using the cash receipts and disbursements method of accounting, in any proceeding involving the issue of whether such method clearly reflects income, the burden of proof in respect of such issue shall be upon the Secretary.'' (b) Effective Date.--The amendment made by subsection (a) shall apply to proceedings commenced after the date of the enactment of this Act. <all>