House Bill 6391
116th Congress(2019-2020)
To amend the Internal Revenue Code of 1986 to allow for a 5-year carryback of operating losses of small businesses, and for other purposes.
Introduced
Introduced in House on Mar 25, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6391
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
This bill allows certain small businesses (fewer than 250 employees) a 5-year carryback of net operating losses incurred in 2020 due to COVID-19 (i.e., the coronavirus disease 2019).
March 25, 2020
03/25/2020
Referred to the House Committee on Ways and Means.
03/25/2020
Introduced in House
Public Record
Record Updated
Feb 8, 2022 11:17:25 PM