S. 2540 · 110th Congress
A bill to amend the Internal Revenue Code to provide expensing for certain property placed in service during 2008 and 2009.
- Stage
- In committee
- Sponsor
- Arlen Specter
- Introduced
- 2008-01-22
- Latest action
- 2008-01-22 · Introduced in Senate
Summary
Amends the Internal Revenue Code to allow a current year tax deduction of the cost of business equipment placed in service in 2008 and 2009 for which cost recovery periods of three, five, or seven years are currently allowed.