Narrowing Exceptions for Withholding Taxes Act of 2012
Official title: To amend the Internal Revenue Code of 1986 and the Social Security Act to provide for employment tax treatment of professional service businesses.
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Referred to the House Committee on Ways and Means.
Narrowing Exceptions for Withholding Taxes Act of 2012 - Amends the Internal Revenue Code and title II (Old-Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to require a shareholder of a subchapter S corporation engaged in a professional service business to include all items of income or loss attributable to such business in determining such shareholder's net earnings from self-employment for purposes of computing employment tax liability.
Defines a "professional service business" as any trade or business substantially all of the activities of which involve providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 3840: Narrowing Exceptions for Withholding Taxes Act of 2012. 112th Congress. Open America. https://openamerica.io/bill/112-HR-3840/
"H.R. 3840: Narrowing Exceptions for Withholding Taxes Act of 2012." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-3840/.
H.R. 3840, 112th Cong. (2026), https://openamerica.io/bill/112-HR-3840/.
[H.R. 3840: Narrowing Exceptions for Withholding Taxes Act of 2012](https://openamerica.io/bill/112-HR-3840/)