Small Business Efficiency Act

Summary

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.

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Timeline

1. 21 November 2013

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 21 November 2013

   Introduced

   Introduced in House

   Source: IntroReferral

3. 21 November 2013

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 21 November 2013 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 21 November 2013

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 21 November 2013

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 21 November 2013

  Open at official source

Sponsors

• KEVIN BRADY · R · Sponsor
• Rep. Thompson, Mike [D-CA-4] · D · Sponsor
• Erik Paulsen · R · Cosponsor
• Rep. Nugent, Richard B. [R-FL-11] · R · Cosponsor
• LAMAR SMITH · R · Cosponsor
• Rep. Jolly, David W. [R-FL-13] · R · Cosponsor
• Rep. Amodei, Mark E. [R-NV-2] · R · Cosponsor
• Todd Young · R · Cosponsor
• Sen. Schiff, Adam B. [D-CA] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to → Tax Reform Act of 2014
• related to ← Small Business Efficiency Act