H.R. 3362 would amend the Internal Revenue Code of 1986 to allow 5-year amortization of goodwill and other section 197 intangibles that are acquired from a small business.

== Detailed Summary ==

<summary>
(Log inTax Fairness for Small Business Act of 2007- Amends the Internal Revenue Code to edit the wikiallow an accelerated five-year amortization period for goodwill and beother business intangibles acquired from certain small businesses (businesses whose average three-year gross receipts do not exceed $5 million) after December 31, 2006. Limits the firstamount eligible for such amortization to provide a detailed summary of the bill!)$5 million.
</summary>

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== Status of the Legislation ==

<status>
(Log inLatest Major Action: 8/3/2007: Referred to House committee. Status: Referred to edit the wikiHouse Committee on Ways and be the first to update the status of the bill!)Means.
</status>

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== Points in Favor ==

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== Points Against ==

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