Tax Records Law on Way Out
Congressional committees voted today to repeal a 1984 law that requires up-to-the-minute records on business use of cars for which a tax deduction is claimed and an hourly log for home-based computers used for business. Final action was expected by week’s end.
Congressional offices have been flooded with protest mail since the record-keeping requirements went into effect Jan. 1. “That little turkey’s on the way out,” Senate Majority Leader Robert Dole told reporters after the repeal measure was approved by the Senate Finance Committee and the House Ways and Means Committee.
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