There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (10/08/2004)

Qualified Personal Service Corporations Clarification Act of 2004 - Amends the Internal Revenue Code to modify the criteria for determining whether a corporation is a qualified personal service corporation. Includes within the definition of qualified personal service corporation a qualifying corporation substantially all of whose stock is held by certain former employees (thus permitting such corporation to use the cash method of accounting).