Small Business Efficiency Act of 2006

Summary

Small Business Efficiency Act of 2006 - 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.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 16 March 2006

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• Introduced in House (PDF)

  Introduced in House · EN · 16 March 2006

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• Introduced in House

  summary · EN · 16 March 2006

  Open at official source

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