Taxes

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  • Small Business Needs Big Tax Reform, Too
    Posted in Op-Eds on August 15, 2013 | Preview rr
    Tags: Taxes

    Small Business Needs Big Tax Reform, Too By Chairman Sam Graves Small businesses are important to our economy and to our economic recovery, so why should they be forgotten in tax reform plans? President Obama's proposal on July 30 for a corporate tax cut completely ignores small businesses. Many of them already pay higher taxes and faced a tax hike at the beginning of the year, yet the President's flawed and incomplete plan only increases that inequity. The fact is that comprehensive tax reform... Read more

  • The Hill: Chairman Graves Presses IRS Over Small Business Letters
    Posted in Articles on August 9, 2013 | Preview rr
    Tags: Taxes

    Small Business Panel Presses IRS Over Outreach By Bernie Becker The chairman of the House Small Business Committee is pressing the IRS over letters the agency is sending that he fears companies could find threatening. The IRS, Rep. Sam Graves (R-Mo.) says, is currently telling small business owners that they might have underreported their income, based on the reports the agency receives about a company’s debit and credit card receipts. In a letter to the agency, Graves suggests that the letters ... Read more

  • Committee Examines IRS Methods for Auditing Small Businesses
    Posted in Press Releases on July 17, 2013 | Preview rr
    Tags: Taxes, Oversight

    The House Small Business Committee, led by Chairman Sam Graves (R-MO), today held a hearing examining the methods the Internal Revenue Service (IRS) uses to audit small businesses. Acting IRS Commissioner Daniel Werfel testified. The purpose of the hearing was to identify how the agency selects and classifies the tax returns of small businesses, in light of revelations that the IRS used inappropriate criteria to unfairly target certain groups. “Congress has a responsibility to ascertain just how... Read more

  • Graves: Did IRS Target Small Businesses for Political Reasons?
    Posted in Press Releases on May 31, 2013 | Preview rr
    Tags: Taxes

    WASHINGTON, DC – House Small Business Committee Chairman Sam Graves (R-MO) today wrote to the IRS to inquire whether the agency also targeted small businesses for political reasons as they did with conservative nonprofit groups. Among many questions, Graves asks whether the tax returns of small businesses were selected for closer review and what criteria were used to select small businesses for audits. In 2011, Graves led a joint hearing with Oversight & Government Reform Chairman Darrell Issa ... Read more

  • Hearing Highlights Tax Reform’s Benefits to Small Businesses, Features Chairman Camp’s Testimony
    Posted in Press Releases on April 10, 2013 | Preview rr
    Tags: Taxes

    WASHINGTON, D.C. – The House Small Business Committee, led by Chairman Sam Graves (R-MO), today held a hearing that highlighted the benefits to small businesses from tax reform and simplification, and for the first time since 1979, the Committee heard testimony from the House Ways and Means Chairman. Ways and Means Chairman Dave Camp (R-MI) testified about his small business tax reform discussion draft, a part of the Committee’s effort to pursue comprehensive tax reform during the 113th Congress... Read more

  • Graves Applauds Camp’s Tax Reform Small Business Discussion Draft
    Posted in Press Releases on March 12, 2013 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today released the following statement on Ways and Means Committee Chairman Dave Camp’s release of a tax reform small business discussion draft: “I applaud Chairman Camp’s commitment to reforming our convoluted tax system, which small businesses dread. The average tax compliance cost per employee for small businesses is almost three times the per employee cost for the average large firm. In order to address this inequity, Washington must ... Read more

  • Statement by Chairman Graves on the Imperial Presidency Report
    Posted in Press Releases on October 23, 2012 | Preview rr
    Tags: Taxes, Regulatory Reform / Regulations

    House Small Business Committee Chairman Sam Graves (R-MO) today released the following statement on the Imperial Presidency Report: "This report exposes the Obama administration's pattern of relentless government expansion that creates harmful uncertainty for small businesses. As job creators, small businesses should be a real priority, not a regulatory target. From the unprecedented power of the Consumer Financial Protection Bureau to the costly health care law, employers face new burdens under... Read more

  • Chairman Graves Statement on Small Business Surveys
    Posted in Press Releases on October 4, 2012 | Preview rr
    Tags: Taxes, Regulatory Reform / Regulations

    House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement in response to the third quarter survey of small businesses by the U.S. Chamber of Commerce. The Chamber poll found that 89% say tax increases will hurt their small businesses, 83% will not hire over the next year and 23% expect to have fewer employees. Another survey of small business owners commissioned by the nonpartisan organization Common Good, was released earlier this week revealing that 69% of ... Read more

  • Graves & Ranking Member Snowe Challenge Sec. Geithner on Definition of Small Business
    Posted in Press Releases on September 6, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) and Senate Small Business and Entrepreneurship Committee Ranking Member Olympia J. Snowe (R-ME) today sent a letter to Treasury Secretary Timothy Geithner about the Department’s attempt to change the definition of a small business. In the letter, Graves and Snowe expressed concern about the legal authority, justification and purported use of new definitions outlined in a Department of Treasury’s Office of Tax Analysis report from last Aug... Read more

  • Chairman Graves Statement on the CBO Outlook and Fiscal Cliff
    Posted in Press Releases on August 22, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement on the Congressional Budget Office report that says a recession is likely next year if Congress fails to act on the fiscal cliff: “I don’t know what could be more convincing to the President and his liberal supporters than this CBO report that shows how tax increases are bad for the economy. On August 1st, the House acted to stave off a tax hike by passing an extension of current tax rates, with 19 Dem... Read more