HR 3016 110th Congress House Taxation Barber and beauty shops Commerce Contractors Government Operations and Politics Government paperwork Income tax Labor and Employment Leases Self-employed Social Welfare Social security taxes Tax credits Tax returns Tipping

Small Business Tax Equalization and Compliance Act of 2007

Introduced: July 12, 2007 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 12, 2007

Referred to the House Committee on Ways and Means.

Jul 12, 2007

Introduced in House

Plain-English summary Congressional Research Service

Small Business Tax Equalization and Compliance Act of 2007 - Amends the Internal Revenue Code to extend the tax credit for social security taxes paid for employee cash tips to employers of cosmetologists.

Requires employers of cosmetologists to report income and tips of their cosmetologist employees and to provide income and tip information to self-employed cosmetologists to whom they pay more than $600 in the taxable year. Imposes similar reporting requirements upon individuals who rent chairs to cosmetologists. Requires such employers to provide their cosmetologist employees and self-employed cosmetologists with information on the tax and tip reporting obligations of employees and self-employed individuals.

What's happening now July 12, 2007

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1