H.R. 3840 · 112th Congress
Narrowing Exceptions for Withholding Taxes Act of 2012
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
StarkSponsor6 cosponsors · 6 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Narrowing Exceptions for Withholding Taxes Act of 2012 - Amends the Internal Revenue Code and title II (Old-Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to require a shareholder of a subchapter S corporation engaged in a professional service business to include all items of income or loss attributable to such business in…
What it does: CRS summary · Introduced in House · Jan 31, 2012
Narrowing Exceptions for Withholding Taxes Act of 2012 - Amends the Internal Revenue Code and title II (Old-Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to require a shareholder of a subchapter S corporation engaged in a professional service business to include all items of income or loss attributable to such business in determining such shareholder's net earnings from self-employment for purposes of computing employment tax liability.
Defines a "professional service business" as any trade or business substantially all of the activities of which involve providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Narrowing Exceptions for Withholding Taxes Act of 2012
Latest action (Jan 31, 2012): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 31, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.