BIG (Built-In Gains) Day, Continued

Building on the oral testimony of Congressman Dave Reichert (R-WA) at the member’s hearing on tax extenders held by the Ways and Means Revenues subcommittee, Congressman Ron Kind (D-WI) also weighed in to support extending built-in gains relief this year.

An original author of the S Corporation Modernization Act, Kind, in his written comments to the subcommittee writes:

A provision of chief importance is the provision reducing the holding period for Built-In Gains from 10 years to five years for those small businesses known as S corporations. This provision allows our business community to create jobs in the United States.

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