PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1420-1421)
Congressional Research Service
Version 00 · Introduced in Senate · Mar 9, 2000
Small Business Tax Accounting Simplification Act of 2000 - Amends the Internal Revenue Code to permit certain small businesses to use cash accounting.Declares that a taxpayer: (1) (including certain C corporations or partnerships with a C corporation partner) shall not be required to use an accrual method of accounting for any taxable year by reason of using merchandise or inventory, if the taxpayer's (or any predecessor's) average annual gross receipts for the three-year period ending with such prior taxable year does not exceed $5 million; and (2) shall not be required to use inventories to determine income if merchandise costs for the preceding year were less than 50 percent of gross receipts for such year.
People & committees
Sen. Bond, Christopher S. [R-MO] · R–MO
Legislative record
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Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1420-1421)
Sponsor introductory remarks on measure. (CR S1419-1420)
Introduced in Senate
Primary sources
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Source last updated: Feb 10, 2026. Consult Congress.gov for the current record.
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Analyze S.2246 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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