S.2540 - A bill to amend the Internal Revenue Code to provide expensing for certain property placed in service during 2008 and 2009.

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  • Official: A bill to amend the Internal Revenue Code to provide expensing for certain property placed in service during 2008 and 2009. as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
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01/22/08
 
 
 
 
 
 
 

Official 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.




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