The Senate approved the Small Business Jobs Act, which contains language removing wireless...
The Senate approved the Small Business Jobs Act, which contains language removing wireless devices from IRS “listed property” rules. If the change becomes law people with a business-provided mobile device are no longer required to record the amount of such…
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expense, the time and place of the use of the property, the business purpose of the expense and business relationship to the taxpayer of the persons using the property. The legislation, better known as the MOBILE Cell Phone Act, will provide relief for businesses and employees across the country, said CTIA President Steve Largent. “We hope the House will act soon so that wireless devices can be removed from the IRS listed property rules. The existing rule punishes productivity and raises compliance costs, and its permanent repeal is long overdue,” he said. “You can’t do business in the modern economy without a cellphone so it’s crazy to tax them like some executive perk,” said Sen. John Kerry, D-Mass.: “This law was long in need of modernization and I'm glad we've done right by businesses and abolished this silly and outdated law.” CTIA is pleased that the legislation has gained bipartisan support, a CTIA spokeswoman said. The administration also supports it, she said. The legislation was introduced by Kerry, and Sen. John Ensign, R-Nev., in 2008.