H.R. 3770 · 110th Congress
Qualified Personal Service Corporations Clarification Act of 2007
- Stage
- In committee
- Sponsor
- Allyson Schwartz
- Introduced
- 2007-10-04
- Latest action
- 2007-10-04 · Introduced in House
Summary
Qualified Personal Service Corporations Clarification Act of 2007 - 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).