A bill to amend the Internal Revenue Code of 1986 to clarify the employment tax treatment and reporting of wages paid by professional employer organization, and for other purposes.

Summary

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. 18 November 2011

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 18 November 2011

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 18 November 2011 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 November 2011

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 November 2011

  DownloadOpen at official source

• Introduced in Senate

  summary · EN · 18 November 2011

  Open at official source

Sponsors

• Rep. Grassley, Chuck [R-IA-3] · R · Sponsor
• Rep. Nelson, Bill [D-FL-11] · D · Sponsor
• Sen. Pryor, Mark L. [D-AR] · D · Cosponsor
• Sen. Portman, Rob [R-OH] · R · Cosponsor
• Sen. Bingaman, Jeff [D-NM] · D · Cosponsor
• Sen. Conrad, Kent [D-ND] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Small Business Efficiency Act of 2011