Search Results for keywords:"align act"

Search Results: keywords:"align act"

H. R. 574 — To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made, and for other purposes.
January 21, 2025
Status:Introduced in House
Congress:119
Words:770
H.R. 574 proposes changes to the Internal Revenue Code of 1986 that would allow individuals and businesses to claim a tax deduction immediately when they invest in qualified property. Known as the “Accelerate Long-term Investment Growth Now Act” or the “ALIGN Act,” the bill aims to make this...
Simple Explanation
Congress wants to change the rules so that people and businesses can save money on taxes faster when they buy special things like machines or buildings for work. This new rule would let them get a tax break right away instead of waiting, starting from things they bought after September 27, 2017.
S. 187 — To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made.
January 22, 2025
Status:Introduced in Senate
Congress:119
Words:734
S. 187 aims to amend the Internal Revenue Code of 1986 to permanently allow full expensing for investments in qualified property. This means businesses can deduct the complete cost of certain property investments right away, instead of depreciating them over time. The bill...
Simple Explanation
S. 187 wants to change tax rules so businesses can quickly get money back when they buy special items, instead of waiting a long time. This idea is like when you buy a toy and can call it yours right away without waiting.

Showing 1 to 2 of 2 results