HR 2466
112th Congress
House
Taxation
Accounting and auditing
Contracts and agency
Employment taxes
Licensing and registrations
Tax administration and collection, taxpayers
User charges and fees
Wages and earnings
Small Business Efficiency Act of 2011
Introduced: July 8, 2011
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 8, 2011
Referred to the House Committee on Ways and Means.
Jul 8, 2011
Introduced in House
Plain-English summary
Small Business Efficiency Act of 2011 - 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, up to $1 million, to guarantee payment of employment taxes. Limits the required bond amount to $50,000 for a newly created PEO during its three-year startup period.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1