A bill to amend section 280 of the Internal Revenue Code of 1954 to exclude from the application of such section expenses incurred by an author of a book or similar property in the writing of such book or property.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exempt an author's research and writing expenses from the requirement that the production expenses of a film, sound recording, book, or similar property be charged to capital account. Allows the period for filing a refund claim under this Act to run until one year following the date of enactment.…