Congress Issues Status on H.R. 4647 to Increase Alternative Tax Liability for Small P & C Companies

On Friday, May 9, 2014, the United States Congress issued a status update on H.R.4647 – To amend the Internal Revenue Code of 1986 to increase the alternative tax liability limitation for small property and casualty insurance companies. The Bill’s Sponsor is Rep. Erik Paulsen (R-MN-3). The Bill has been referred to the House Committee on Ways and Means. For more information click here.