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Electronic Tax Filings for Startups: Simplifying Property Elections

This act simplifies the process for startups and individuals to file important tax documents related to company property electronically. It makes the process faster and less burdensome by removing the need for paper forms. Citizens receiving company shares for their services will find it easier to comply with tax obligations.
Key points
Allows electronic submission of tax elections for property received in connection with services.
The Treasury will send electronic confirmations for these elections.
Changes take effect 180 days after enactment, easing the burden on businesses and individuals.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_7090
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2022-03-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Eliminating Paperwork for Startups Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7090.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-03-15.

What are the main provisions?

Key points include:

  • Allows electronic submission of tax elections for property received in connection with services.
  • The Treasury will send electronic confirmations for these elections.
  • Changes take effect 180 days after enactment, easing the burden on businesses and individuals.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McHenry, Patrick T. [R-NC-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Informatization Economy