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Category Archives: Tax legislation
For Many Small Businesses, Fall Filing Deadline Looms for Special Refund Claims
IRS has issued a news release to remind eligible small businesses (ESBs) that time may be running out for them to elect a longer net operating loss (NOL) carryback under the American Recovery and Reinvestment Act of 2009 (ARRA, P.L. … Continue reading
New bill would limit employment tax relief on misclassified workers
In another example of the intention by Congress and the IRS to crackdown on misclassification of workers as independent contractors, Rep. James McDermott (D-Wa) introduced legislation that would make it more difficult for employers to receive protection from a potentially … Continue reading
Posted in Payroll, Tax legislation, Uncategorized
Tagged employees, employment, independent contractor, penalties
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Health Bill Would Hit Small Business
Part of a new health-care bill introduced this week includes a provision requiring businesses with over $250,000 in payroll to provide insurance to its employees or pay a penalty of up to 8% of payroll. As I’m sure most small business … Continue reading
Posted in Payroll, Tax legislation
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House-passed “cash for clunkers” bill features tax-free up-to-$4,500 vouchers
Late on June 16, the House of Representatives by a vote of 226–202 passed H.R. 2346, the Supplemental Appropriations Act of 2009. Title XIII of H.R. 2346, the “Consumer Assistance to Recycle and Save Act” (colloquially known as the “cash … Continue reading