There is 1 version of this bill. View text

Click the check-box to add or remove the section, click the text link to scroll to that section.
Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Title(s) as Introduced

Fixing the Income Ramifications for Small Businesses and Tax Relief Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To clarify for purposes of the Internal Revenue Code of 1986 that receipt of coronavirus assistance does not affect the tax treatment of ordinary business expenses.

Actions Overview (1)

Date Actions Overview
05/15/2020Introduced in House

All Actions (2)

Date All Actions
05/15/2020Referred to the House Committee on Ways and Means.
Action By: House of Representatives
05/15/2020Introduced in House
Action By: House of Representatives

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Phillips, Dean [D-MN-3] 06/04/2020

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 Related Documents
House Ways and Means05/15/2020 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.

Latest Summary (1)

There is one summary for H.R.6884. View summaries

Shown Here:
Introduced in House (05/15/2020)

Fixing the Income Ramifications for Small Businesses and Tax Relief Act or the FIRST Act

This bill amends the Coronavirus Aid, Relief, and Economic Security Act to provide that tax deductions for ordinary business expenses and other tax incidents shall not be affected by the exclusion from gross income of amounts related to loan forgiveness received in response to COVID-19 (i.e., coronavirus disease 2019).