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 (the greater of $50,000 or 5% of the organization's tax liability for the preceding calendar year not to exceed $1,000,000) to guarantee payment of employment taxes.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 19 May 2006

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 May 2006

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 19 May 2006

  Open at official source

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