Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012

[AI summary unavailable — showing source text] Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012 - Amends the Internal Revenue Code to extend temporarily: (1) the 100% exclusion from gross income of gain from the sale or exchange of small business stock, (2) the offset against the alternative minimum tax of general business tax credits, (3) the five-year carryback of tax credit amounts of eligible small businesses, (4) a reduction from 10 to 5 years in the recognition period for built-in gains of S corporations, (5) the increased expensing of depreciable business assets, (6) the special tax rule for long-term contract accounting, (7) the increased tax deduction for small business start-up expenditures, and (8) the tax deduction for health insurance premiums in computing self-employment taxable income. Defines "economic impact" with respect to a proposed or final regulatory rule to mean: (1) any direct economic effect of a rule on small entities, and (2) any reasonably foreseeable economic economic effect on such entities. Permits small entities to seek judicial review of initial regulatory flexibility analyses and to obtain an injunction of a proposed rule that is noncompliant with Regulatory Flex…