H.R. 2447 · 111th Congress
Small Business Efficiency Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
6 cosponsors · 3 D, 3 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Efficiency Act of 2009 - 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).
What it does: CRS summary · Introduced in House · May 14, 2009
Small Business Efficiency Act of 2009 - 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Efficiency Act of 2009
Latest action (May 14, 2009): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 14, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.