Small Business Efficiency Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Mar 6, 2013)
Small Business Efficiency Act - Amends the Internal Revenue Code to treat professional employer organizations (PEOs), certified by the Internal Revenue Service (IRS), as employers for employment tax purposes (thus allowing such PEOs to pay wages and collect and remit payroll taxes on behalf of an employer).
Sets forth IRS certification requirements for PEOs, including financial review and reporting requirements. Requires a PEO to post a bond each year, up to $1 million, to guarantee payment of employment taxes.
What just happenedMar 6, 2013
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateMar 6, 2013
- Mar 6, 2013IntroReferral
Read twice and referred to the Committee on Finance.
- Mar 6, 2013IntroReferralB00100
Sponsor introductory remarks on measure. (CR S1234)
- Mar 6, 2013IntroReferral10000
Introduced in Senate